Coinbase Experiences Brisk User Growth Ahead of IPO


Have to take a minute to go over coin basis. Insane q one numbers. We've always even spending a lot of time here this week. On coin base. They announced the date of their ipo last week. And it is slated for april fourteenth. Now part of the reason they delayed their ipo until q two was so that they could release their q. One numbers and boy were they. Monster in total coin base has over fifty six million verified users. Compare that for example to robin hood's thirteen million active users went from two point. Eight million in q four two thousand twenty to six point one million in q one twenty twenty one trading volume in q one was three hundred and thirty five billion compared to one hundred ninety three billion for all of two thousand twenty and total assets on coin base went from ninety billion to two hundred twenty three billion a one hundred and fifty percent jump quarter over. Quarter the craziest part of that one. And certainly validation of the institutional narrative was that one hundred and twenty two million of that two hundred and twenty three billion overall came from institutions. Now the number that people were most focused on was revenue. Revenue was one point eight billion for the quarter compared to one point three billion for all of last year and something that will be absolutely shocking to wall street. The company actually had a net income of seven hundred and thirty million to eight hundred million. Basically this is exactly what the crypto kids knew was coming but still caught. Many wall street analysts off guard. Da davidson raised their price. Target from one hundred ninety five dollars a share to four hundred forty that price target is a twenty x multiple on twenty twenty one revenue. They had previously estimated six hundred and fourteen million in q one revenue which was obviously about a billion dollars off this price target would put coin bases valuation at a whopping. One hundred and forty-four billion dollars

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