Richard
A gentle push back on your bullish thoughts re Coinbase:
Agreed re your current figures and you could say that with shares now sitting
at $251 versus the $357 of early November it would be a good time to buy. The
margins at 57% are extraordinary
My thoughts would be that:
* We are well exposed to crypto already
* Coinbase follows the crypto markets and has not shown its ability to be
an antidote to the volatility
* It is dependant on trading volumes to increase and they have fallen for
the last 2 quarters - the company makes money by taking a % of the trades
* The experts believe that trading volumes in 2022 will be lower than 2021
* Some pundits have earnings down by 50% next year
We are in for an interesting debate
Simon