RE: Coinbase IPO Fundamentals
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Coinbase is well positioned for continued growth as one of the only platforms that conforms willingly with all the US laws and has an ever growing market as more kids turn 18 each year.
Now sure about how they are positioned for international growth or if they can compete for the global market. They also have name recognition like bitcoin, first mover has a lot of advantage and will be the easy first sign up for many as they exposed to crypto, but keeping people engaged and using their services as they get more comfortable will be their biggest struggle.
I will be watching the IPO, but if it keeps getting valued as a tech company and not as a payment/investment company I doubt I will find an entry point.
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Interesting points! conforming to US laws and regulations is a big plus, allows for on ramp for institutions which is important for crypto obviously but also good a good client base to have!
There are competitors, significant ones. I was considering talking about this in the post but didn't. They face competition from other exchanges like Binance and Kraken, but also new platforms like robinhood and wealth simple which offer both traditional securities and are beginning to offer crypto. First mover advantage will help for sure, and like mention user retention will be a battle in the future.
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