Coinbase’s Finances

bitcoin coinbase ipo nasdaq Mar 02, 2021

Coinbase is on its way for a direct listing on the Nasdaq exchange under ticker COIN. It has filed a S-1 registration statement that serves as an important hallmark before it goes public. It also provides a treasure trove to investors about Coinbases’s finances. 

Here are some notable quotes from the S-1:

“As of December 31, 2020, the total value of crypto assets on our platform represented 11.1% of the total market capitalization of crypto assets, increasing from 8.3%…[from 2019]”.

“We have grown quickly and in a capital-efficient manner since our founding. For the years ended December 31, 2020 and December 31, 2019, we generated total revenue of $1.3 billion and $533.7 million, respectively, net income (loss) of $322.3 million and $(30.4) million, respectively, and Adjusted EBITDA of $527.4 million and $24.3 million, respectively”

The centralized exchange helped cater to both Microstrategy and Tesla in buying...

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Morgan Stanley’s Chief Global Strategist Ruchir Sharma’s Push for Bitcoin

bitcoin morgan stanley news Feb 15, 2021

Morgan Stanley’s head of emerging markets and chief global strategist, Ruchir Sharma, published a report on "Why Crypto Is Coming Out of the Shadows". In the report, he mentions how cryptocurrency is becoming more established and for those who don't adapt, to "risk being left behind". The report cites that 20% of all U.S. dollars in circulation were printed in 2020 and how that inflationary risk is fueling the rush to cryptocurrencies. Bitcoin is up 200% in the year, compared to the S&P 500 Index* that only rose 16%. 

Moreover, U.S. debt to other countries surpassed 50% of its GDP in 2019. In 2020, given COVID-19, that debt rose to 67% of GDP, a big warning sign that the U.S. dollar may lose dominance as its liabilities rise. 

As Bitcoin gains market share, the volatility has gone down from an annual average of over 400% to 69%, compared to "27 percent for silver, 13 percent for gold, and around 20 percent for stocks." According to a recent survey mentioned...

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Tesla Buys $1.5 billion of BTC

bitcoin news Feb 09, 2021

Bitcoin sits at $47,000 thanks to Tesla. The newly published 10-K filing reveals that in January 2021, the company bought $1.5 billion dollars worth of bitcoin. Honestly, it was inevitable after Elon Musk tagged #bitcoin in his Twitter Bio on January 29. Moreover, Tesla may soon accept crypto payments with a likelihood of holding even more Bitcoin rather than cashing out once payment is received. 

Bitcoin is here to stay. Like Alexander Lorenzo always says, “Get with it or get left behind”. 

Picture source from Rohail Saleem

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