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.