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Business Cryptocurrency Tech

Coinbase Very Close to Acquiring Brazils Largest Crypto Exchange – Mercado Bitcoin

Report came out today that Coinbase (COIN) is currently in talks to acquire 2TMM, owner of Mercado Bitcoin, Brazil’s largest crypto exchange.

Mercado Bitcoin has reached 3.2 million customers in 2021, of which 1.1 million were added last year, with a trading volume of $7.1 billion in 2021.

Why it matters:

This gives Coinbase a very strong position in a market in which they have been struggling to gain traction. Brazil and South America overall is going to be a very important market in future for cyptocurrencies.

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Business Tech

No Dogecoin on Coinbase to Trade – Why?

DOGEcoin has increased by more than 6,000% year to date – but you can’t trade the popular coin on Coinbase.

WHY???

Well – its because Dogecoin is just really a joke / meme coin with no underlying utility, but it is fun to see it rise!

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Business Finance Tech

Coinbase Goes Public – I Expect it to Drop to $30 billion Valuation then Rise Again!

Coinbase went public the other day on the NASDAQ. Coinbase have a very exciting business and I have been trying to learn as much as possible about the Crypto world for the past year or so (but feels like I’m barely scratching the surface).

At one point Coinbase hit $100 billion in valuation, but I suspect that will drop below half over the next few months as the froth from the initial trades die down.

It will be very interesting to see how Coinbase performs over the long term, but it does seem to be a good hedge if you expect cryptocurrencies to be strong in the next 10 years or more.

Prediction – it drops below $30 billion in market cap and then it starts to climb again.

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Business Tech

Coinbase Valued at Over $100 billion – You Have to Be Kidding Me (From $8 billion to $100 billion in a year)

Coinbase is looking to go public very soon and its valuation in the secondary markets has just gone over $100 billion.

Coinbase’s valuation over the years:

  • 2016 — $500M
  • 2017 — $1.6B
  • 2018 — $8B
  • 2020 — $100B

Coinbase reported revenue of $530M for 2019 and $691M for the first nine months in 2020. The company posted a net income of $141M between January-September 2020, up from a loss of $30M in overall 2019. Notably, these numbers don’t include 2021, when the Bitcoin price surged more than 90% YTD.