CoinBase and the expert opinions about it
The first day for the new cryptocurrency Coinbase started at $381 for a single share. This price was nearly 52% more than its reference price. After the initial trading and completing its first day in the stock market, the per-share value of Coinbase closed at $328.
Most people are looking towards the experts to hear their reviews and predictions about this new cryptocurrency. Read the point of view of the experts to get an insight regarding this currency.
Sarah Kunst’s point of view
According to Sarah, the debut of a cryptocurrency is an important market to predict its growth. Sarah is the managing director of Cleo Capital. In an interview, she pointed towards the bigger picture of the start of Coinbase. In her opinion, this is the first major IPO in the cryptocurrency world that will impact the overall use of cryptocurrency and its flow in the market. This IPO is bound to change the exchange of cryptocurrency in the US. The price of the stocks of Coinbase does not matter as the cryptocurrencies are bound to stay in the public markets whether the stocks rise or plummet.
Michael Bucella’s point of view
Another expert Michael Bucella stated that the overall revenue model of Coinbase is as interesting as the launched cryptocurrency. The fee revenue model works on crypto itself. This means that all the fees that are related to handling this currency are also dealt with in cryptocurrency. The main point here arises that if the costs increase and the increase in the fees are combined with the increase in the price of this cryptocurrency, this will be almost levered beta to this space.
While there are a lot of opportunities and future prospects for the newly launched cryptocurrency, the challenges are also present that this currency will have to face to have a sustainable future with growth.
Emily Parker’s point of view
Emily Parker pointed some such challenges that this cryptocurrency will have to face in its starting phase. She said that the Coin base would have to adapt constantly with time to keep its first-mover advantage. Currently, you can use Coinbase to buy cryptocurrency, but as the world progresses further, the banks may even allow you to purchase cryptocurrency directly from your bank deposits. In such cases, the use of Coinbase may become irrelevant. Coinbase will need to constantly adapt and move with the changing trends to keep its value where it stands today and also to increase it.
Bobby Cho’s point of view
With the challenges and the constant need for adaptation, there are several opportunities that Bobby Cho mentioned. He is a partner at CMS Holdings. According to him, Coinbase can access all the traditional products. He pointed that two years ago, Coinbase bought Keystone, and work on it is still in progress, but Coinbase has not gotten into monetization. He presented some ideas related to market data and explained the huge potential that Coinbase has in revenue streams. Overall, Coinbase has tons of opportunities in different sectors, and we may see its expansion in the coming years.