Company: Coinbase Global, Inc. (SYM: COIN) With Bitcoin expected to rally even more, Coinbase stands to do well. We also have to consider that President Trump wants to make the U.S. the “crypto capital of the planet.” As noted by USA Today, “Trump – who campaigned as the ‘crypto president’ – passed the order on Thursday night. It calls for the creation of a cryptocurrency working group to propose new digital asset regulations and to look into the creation of a national cryptocurrency stockpile. As a result, cryptocurrencies like Bitcoin will likely become more mainstream and possibly used for payment just like credit and debit cards.” All of which adds legitimacy to cryptocurrencies by the federal government. |
Behind the Markets
We recommended Palantir in 2021, now we’re recommending this…
This one investment could soon impact $85 trillion in economic activity.
That’s 13-times bigger than oil…
6-times bigger than the digital economy…
7-times bigger than healthcare.
And ONE firm – currently trading for only $20 a share – holds all the cards in this sector.
The US SEC also announced the formation of a new crypto task force dedicated to developing a comprehensive and clear regulatory framework for crypto assets. Plus, once new regulation is in place and executive orders are executed, we could easily see crypto transactions multiply quickly. Not only would that be beneficial to cryptocurrencies, but also to companies like Coinbase Global. In addition, according to Coinbase CEO Brian Armstrong, the “floodgates are opening” for digital currencies, as noted by DailyHodl.com. In short, there’s a lot to like about crypto stocks, like Coinbase Global. |
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Helping, analysts at Mizuho Securities just upgraded COIN to a neutral rating from underperform, noting that, “Growing global enthusiasm surrounding the finite number of bitcoins and a more favorable political environment under Trump are likely sufficient catalysts for price appreciation,” as quoted by Seeking Alpha. Analysts at Oppenheimer added that “sentiment and momentum for crypto has gone through the roof after Trump won the election and Republicans secured the majority of both House and Senate.” In addition, they said the recent sell off is a buy opportunity and that the fourth quarter will be a “very good” quarter. Again, with Bitcoin set to rally to higher highs, Coinbase should easily benefit. |