"COIN"- Coinbase IPO- Opens today- Thoughts?

[ChiBitCTy]

Well the day has finally come that the largest bitcoin exchange and one of ( if not the ) largest cryptocurrency exchange in the world, goes public.  If you aren't aware, IPO stands for Initial Public Offering.  There's a TON of hype about this IPO, not only in the "crypto space" but just overall.  I have had CNBC ( financial news channel ) on all morning and it's been a huge topic all week.

The estimates right now are that it will open at $340 per share.  So with that said, are you a buyer? Where do you think the price will end up at the close of today? 

Regardless of how you feel about Coinbase ( I personally despise the company ), this is good news for bitcoin and a big reason behind the recent surge.  Should be fun!

[DeathAngel]

It should bring more attention & mainstream exposure to crypto. I know it’s a fiat based stock but what do you go to CB for? To buy crypto of course. Long term it’s another ingredient in the recipe for moon. Hopefully short term we get a pump once COIN launches.

[LUCKMCFLY]

Well Coinbase's COIN referral price has been set at $250 because 1700 employees have been given free shares, it has been set lower than pre-sale with low volume so far, roughly less than $4M, though The reference price should not be confused with the opening price, here they clarify it:

“Please note that the reference price is NOT an offering price and nobody has purchased or sold shares at that price. The opening public price will be determined based on buy and sell orders in the opening auction on Nasdaq.”

Source: https://cointelegraph.com/news/coinbase-s-coin-stock-reference-price-set-at-just-250-as-1-700-staff-get-free-shares

The listed price is expected to increase as it faces market movements, it is all a matter of waiting. At least many hope that it can hit the $340 price quickly and raise its market cap.

[BrewMaster]

this is a very big news because this is yet another step in putting bitcoin on everyone's radar as a legitimate currency that exist. this excellent because after years of lies about bitcoin that have misled millions of people we need things that makes them think twice before believing the next lie.
eventually this will all help adoption grow with much bigger ease than before.

[Fortify]

The estimates right now are that it will open at $340 per share.  So with that said, are you a buyer? Where do you think the price will end up at the close of today?  

It's very tempting to pick up a few shares, it could be like the early days of Amazon but they are certainly pricing it very high. To see coinbase switch from a $45 million loss to a $409 million profit in the space of a year is pretty remarkable. Their fortunes are definitely tied in with the future of Bitcoin and that seems to be a runaway train right now. If the government can start taking a cut in taxes from these legitimized businesses in the cryptocurrency space it is very possible that they will impose much milder forms of legislation and avoid disastrous actions like an outright bitcoin ban. It is such a high margin business but it really needs to hold on to market share in future or it might get displaced and lose value. You have to wonder how much of a unique "moat" it has around the business because it feels like a lot of people will be trying to take their customer base in future. The price might hold in the $250-$350 region for a little while, because people have already dropped a lot of money into the market during the Covid recovery.

You have to remember that Coinbase won't want the price to move that far on the opening day, because it'll mean that they undersold their company effectively and other traders made profits due to their miscalculation.

[kryptqnick]

Will there be a Coinbase crypto that eventually becomes available on various exchanges? If yes, I think that it's worth to keep an eye on it and maybe invest shortly after the initial hype is over and people get their time to dump the coins. With such a high initially set price, there's a chance it drops significantly shortly after it appears on exchanges and starts to actually be traded by people. So I think that investing right now would be premature and just following the overall hype which is unjustified. But perhaps investing a little later after seeing how it performs on exchanges is a good idea because strong coins backed by big companies tend to do well in terms of their prices.

[Poker Player]

I am not going to buy but I think that:

1) Price swings, especially at the beginning, can affect the price of Bitcoin.
2) If it goes well, we may see a boom of IPOs of crypto related companies.

[BrewMaster]

2) If it goes well, we may see a boom of IPOs of crypto related companies.

i don't think so. we are not talking about the altcoin market or even the penny stocks that anyone just sells their shit there. we are talking about the stock market and the entry and success in there depends on the company itself.
of course if we have anything as big as coinbase that can prove some potential they can and will enter.

[avikz]

Well the day has finally come that the largest bitcoin exchange and one of ( if not the ) largest cryptocurrency exchange in the world, goes public.  If you aren't aware, IPO stands for Initial Public Offering.  There's a TON of hype about this IPO, not only in the "crypto space" but just overall.  I have had CNBC ( financial news channel ) on all morning and it's been a huge topic all week.

The estimates right now are that it will open at $340 per share.  So with that said, are you a buyer? Where do you think the price will end up at the close of today? 

Regardless of how you feel about Coinbase ( I personally despise the company ), this is good news for bitcoin and a big reason behind the recent surge.  Should be fun!

That's a historic incident for bitcoin in all true sense! A coin that has started its journey from 2009, can created so much impact in the financial world that a company based around this coin is listed in one of the most notable stock markets. Isn't that awesome!

Coinbase is definitely not a great choice of many. But I would rather see this event as an important milestone in bitcoin's history. The market has also responded in a positive way as you can all see now!

[c_atlas]

I don't like the current valuation, it feels extremely inflated. Coinbase might be worth 40-50 billion, and I think in the next 2-3 years it'll trend towards that range. Short term, it will rise with bitcoin, medium term it'll fall, very long term I am bullish that Coinbase will be worth well over 1T.

[omone1]

I saw it at $585 on coingecko, I am thinking is very high because of the hype. Seems not have followed the regular crypto starting launch and pricing. Let me see if it retracts in price, if it doesn't, I find a safe entry. I saw rumour that there could airdrop for coinbase traders.

[AllGoodNamesAreTaken]

Crazy!

[sunsilk]

The estimates right now are that it will open at $340 per share.  So with that said, are you a buyer? Where do you think the price will end up at the close of today? 

Nah, I'm not a buyer but I'm like those people who would love such as good news as this. The mainstream media are on it and it's also the day when bitcoin reached another all time high.

Regardless of how you feel about Coinbase ( I personally despise the company ), this is good news for bitcoin and a big reason behind the recent surge.  Should be fun!

Yes! It's another exposure for bitcoin as those stock investors have to research and learn that this company's business is pure into cryptocurrencies and with main crypto of all, bitcoin.

[Lorence.xD]

My thoughts would be that if we could get in it, we should get in because this is the lowest price that their stock will be and overtime, I am sure that it will grow exponentially and  I don't like missing out on something that can make me huge amounts of money.

[ranochigo]

I'd say that it is a pretty good news. It has given cryptos in general a huge exposure in the stocks market as well as in the public. Their financial are actually quite pretty but you have to keep in mind that their stocks would probably be closely related to the trend of cryptos, especially Bitcoin.

I personally wouldn't get into their stocks, they don't have especially crypto-friendly business practices and I'd rather just purchase Bitcoins directly than purchasing a stocks that would probably be following the trend.

[Lucius]

I had no doubt that this news will have a positive effect, but some seemed to expect the price of BTC to react in a much stronger way than it actually did. In that sense, this news is not as strong as, say, PayPal or Tesla, but at least it helped us finally break the strong resistance that existed at $60k and keep the price above that level.

I’ve never been someone who buys stocks, and so it will be this time around - although I think a company like this has a pretty good chance of continuing to grow in the future. No matter what anyone thought of Coinbase, we can’t escape the facts that say they are currently the largest crypto exchange with around 1 million BTC in their wallets.

We all know how important it is to be your own bank when it comes to crypto, but it will take time for people to understand the difference between a bank and a crypto exchange - until then it is to be hoped that Coinbase will not become the next Mt.Gox.

[Gozie51]

I won't be a buyer not because I don't wish to but because of the price. But sure it will create more fire in the market because CB isn't a small exchange and it create huge volume for coins so I know it will have a huge market for its IPO.

[bobyhodob]

I am really waiting for this project from Coinbase and it is clear that I will definitely become a buyer, because I am sure that the Coinbase project is definitely not bad to buy

[NeuroticFish]

So with that said, are you a buyer? Where do you think the price will end up at the close of today? 

Regardless of how you feel about Coinbase ( I personally despise the company ), this is good news for bitcoin and a big reason behind the recent surge.  Should be fun!

I don't like Coinbase either, but business is business.
This being said, I won't be a buyer, at least not now.

Imho Coinbase is not a normal company and this is not a normal IPO. When Bitcoin price will fall and especially when a new crypto winter will come, I expect (I may be wrong though) that the shares will also fall.
If so, why shouldn't I just keep bitcoin instead, especially as I don't afford to diversify much.

Maybe during the next crypto winter Coinbase shares could be a good investment, at least until bitcoin new bull run will start. But that's speculation, hence it doesn't matter. Now, imho keeping bitcoin is better.

[The Cryptovator]

Definitely, this is a good move for the overall crypto industry. But I am not really familiar with the stock market, so I wouldn't invest in coinbase shares, unfortunately. I don't know why, but I am not interested to enter the stock market as well. Coinbase one of the largest crypto exchange we know, and that's the reason we have seen an impact on Bitcoin price last day. Most probably due to coinbase stock HYIP Bitcoin price has been moving upward. Anyway, this is good news for stock market traders who are interested to take shares from a crypto exchange. We can say it's a crypto adaption since many stockholders now familiar with a crypto exchange stock.