I bought a *very small* starter position in Coinbase $COIN this morning at ~$240, and am willing to buy more if it continues dropping from here.
Here's my rationale:
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There's also the Coinbase user growth angle to consider, which has been strong as of late. Top position on the app store gives us clues:https://twitter.com/goodalexander/status/1392917656160833546?s=20 …
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Can it keep going down? Absolutely. Could volumes dry up? Absolutely. Is it cheap enough now to take the risk? I believe so. Questions/feedback welcome.
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Underrated: less visible fees on other platforms. BlockFi doesn’t charge commissions but take vicious spreads.
$COIN commissions aren’t that bad in nominal terms but LOOK worse by being more visible at moment of trade/purchase.Thanks. Twitter will use this to make your timeline better. UndoUndo
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$COIN and other charge a spread on each crypto trade. Shouldn't these spreads compress overtime, perhaps significantly? How are you modeling this? Thx and good luck. -
This is a good call out & is $COIN’s primary long term risk. Potential scenarios: 1) strong volumes balance/outweigh fee pressure 2) A strong retail brand can come with pricing power for a while 3) institutional biz grows & comes w/higher fees
End of conversation
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Options might give some decent plays here too. Surface is fairly flat
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I like your rationale, in particular around diversification across coins, but am just not confident enough in crypto in general to take more than tiny position.
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I agree with this. To me it is a "cheaper" option on the crypto space (and with a company that makes a health profit).
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