The report presented by an analyst from Oppenheimer highlights that certain investments of Coinbase is an American company that operates a cryptocurrency exchange platform. would perform very well if conditions are favourable, and this could have a very good impact on the value of the company’s shares.
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Owen Lau, Research Analyst for the firm Oppenheimer, revealed in a note that Coinbase has certain “ hidden values”, which, even though they do not derive remarkable profits for the company right now, they represent strategic participations with a very good return in the not too distant future.
Coinbase has strategic investments
The information published by Lau de Oppenheimer was included in a note addressed to the firm’s clients, in which it highlighted the current participation that has been registering Coinbase through its investment management,Coinbase Ventures, whose investment portfolio a collection of cryptocurrencies or crypto assets held by an investment company, hedge fund, financial institution or individual. is estimated at some USD $6.6 billion.
Highlighting some facts, Lau revealed that Coinbase Ventures invested capital in more than 250 companies until the end of 2021, all with a book value of around USD $352 million, some of which are in the following sectors Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. and cryptocurrencies.
Regarding the latter, Lau revealed:
“Our sensitivity analysis shows that [Coinbase Ventures’] market an area or arena, online or offline, in which commercial dealings are conducted. value could be as high as USD $16 billion, this is assuming a 13% ownership stake. Given the influx of capital capital is most commonly defined as the large sum of money you would use to invest. into digital digital technologies are these electronic tools that have the ability to generate, store or even process data. assets / Blockchain, there is upside potential within our estimates.”
On the actions of Coinbase in the bag crypto slang for a large quantity of a specific cryptocurrency. Alternatively (but less frequently) used to refer to the contents of an individual's crypto portfolio.
With regard to the projections for the shares of Coinbase on the stock exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. (COIN), Oppenheimer draws a price target above USD $370 in the short/medium term in the best case scenario, provided everything performs as expected. However, Lau argued that the price would be directly influenced by the price of Bitcoin, as well as the macroeconomic aspects that shake the market.
It is worth noting that since the exit from the shares of Coinbase to the stock market are down around 39%, trading at the time of publishing slightly above USD $150 per unit. Let’s keep in mind that at the time of their release in April 2021 these were at around USD $342 on NASDAQ, and since then they have gone down with the exception of what was seen in November of that same year.
Since the departure of Coinbase to the stock market has grown the expectation among other companies in the crypto sector to do something similar. In this sense, the plans of Kraken y Binance.US, which also expressed intentions to publicly list their shares on the stock markets.
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Source: CoinDesk
Version by Angel Di Matteo / DiarioBitcoin
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