Gil Luria, director of research at D.A. Davidson, talks about the upcoming Coinbase direct listing and his recent research note, “Introducing Crypto’s Amazon Moment.” In this episode, Gil discusses:

  • his crypto background, including his experience as the first Wall Street analyst to cover Bitcoin back in 2013 (1:27)
  • why the Coinbase IPO is going to be an inflection point for the crypto industry (3:02)
  • why he gave Coinbase’s upcoming stock a “buy” rating (4:14)
  • who Coinbase’s biggest competitors are (5:13)
  • why Gil believes Coinbase is the “gold standard” in crypto (6:29)
  • how investing in Coinbase stock compares to investing in actual crypto assets (8:13)
  • how he came to $195 price target for COIN (10:39)
  • why a $2 billion revenue estimate for Coinbase in 2021 might be conservative (12:01)
  • how Coinbase is generating money outside of transaction fees (14:19)
  • whether he expects the institutional adoption trend to grow (15:49)
  • what his expectations are for the price of COIN on the day it opens (17:20)
  • why GBTC is no longer trading at a premium to the spot price of bitcoin (18:20)
  • whether Gil will continue to cover crypto (20:05)
  • crypto News Recap (20:53)

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Episode links:

Gil Luria’s Twitter profile: 

Crypto’s Amazon Moment: 

Introducing Crypto’s Amazon Moment:

Coinbase S-1 Filing: 

2013 Quote from Gil on Bitcoin:

Link to the Crypto News Recap: