Should I Buy Coinbase (COIN)? Finance YouTuber Analysis

Hoium recommends Coinbase as a contrarian bet, asserting that its business is more diversified than just crypto trading, with significant and growing non-transactional revenue streams like stablecoin revenue ($1.35 billion) and blockchain rewards. He highlights its disruptive potential in finance, offering higher rewards than traditional banks. Despite volatility tied to crypto prices, the current valuation (22x price to free cash flow) is seen as attractive for accumulating a disruptive company.

“But, this is a long-term play. And typically, Coinbase's stock is going to be pretty volatile depending on what prices are doing. But, you can see that this is much more than just a crypto trading business. And right now, the valuation is getting pretty attractive.”

The analyst argues that the market is misinterpreting the impact of the proposed stablecoin act. He believes that if the act passes, preventing Coinbase from paying out rewards on USDC, it will actually increase Coinbase's profitability by reducing expenses, despite management's desire to use rewards for ecosystem growth. He sees the current stock drop as a buying opportunity due to this mispricing and the company's long-term potential in the blockchain ecosystem.

“If the market is going to give us a good discount, maybe time to be a buyer of these stocks.”

The analyst is long-term bullish on Coinbase, not primarily for its transaction revenue, but for its potential to disrupt the financial ecosystem through stablecoins, blockchain, and other non-transactional services. He notes the growing non-transaction revenue and potential for operating leverage, stating that a price around $100 per share would make it a very attractive buy.

“But if we start get to $100 a share later in 2026, now you're starting to get to a really attractive price for Coinbase.”

The analyst considers Coinbase a 'never sell' stock, believing blockchain will disrupt financial institutions and that Coinbase is the clear leader in this space. He highlights the growth in non-transaction revenue sources like stablecoins, blockchain rewards, and custodial fees, arguing that Coinbase is building essential blockchain infrastructure that will keep it relevant long-term, despite transaction revenue volatility.

“Coinbase is clearly the leader here. Now, we're still in that disruptive phase, but Coinbase, I don't think, is going anywhere and Bitcoin's going going nowhere.”

The analyst sees Coinbase as a high-growth stock with 10x potential, despite its current high valuation, due to its role in disrupting traditional financial institutions through blockchain technology. He highlights its diverse revenue streams beyond transaction fees, including stablecoin revenue and its Base blockchain, positioning it as a platform for future blockchain innovation. The long-term vision is for Coinbase to become a trillion-dollar company by facilitating the shift of various asset ownership and financial transactions to the blockchain.

“This could absolutely be a trillion dollar company 10 years from now. That's why Coinbase is one of the biggest holdings in the asymmetric portfolio and a stock I still think has 10x potential today.”

The YouTuber recommends Coinbase as a long-term investment, viewing it as a profitable 'money-making machine' that is building the infrastructure for the future of the internet, similar to AWS in its early days. He highlights its diversified revenue streams beyond transactions, including USDC stablecoin and blockchain rewards from the Base blockchain, and anticipates explosive growth from its subscription and services segment as stablecoins become a more efficient payment method.

“This is the infrastructure layer for the future of the internet. I think that's where the ultimate opportunity is. This is like investing in AWS in the 2000s. Coinbase is building that level of infrastructure.”

The YouTuber is holding Coinbase, having bought it in the $60s. He cites regulatory clarity, increased utility, and stablecoin usage as tailwinds that will drive the company's fundamentals and stock performance.

“There was a huge run up in Coinbase stock and crypto in general late in 2024, but in 2025, we've actually gotten a little bit more regulatory clarity, and we're seeing a lot more utility, a lot more stable coin usage.”

The YouTuber believes Coinbase can reach $1,000 per share by 2030 due to anticipated 4x revenue growth driven by infrastructure services (like 'AWS of blockchain'), significant and growing stablecoin revenue (especially USDC), continued strong trading business, and the optionality provided by the Base blockchain. He also expects margin and multiple expansion, noting the company's current valuation is attractive given its growth prospects.

“Yes, I think Coinbase stock can get to $1,000 per share by 2030.”

The analyst believes Coinbase is a long-term leader in blockchain technology, expanding its ecosystem through strategic acquisitions like Derivet, and diversifying its revenue beyond volatile trading. Despite a non-spectacular quarter, the company's strong balance sheet and the vision of its founder, Brian Armstrong, position it well for future growth as blockchain adoption increases, even if it's a 'lumpy' growth path.

“I continue to think Coinbase is the leader in blockchain technology. There's a lot of things that are in the works.”

The analyst believes Coinbase is making strategic moves, such as partnering with PayPal for stablecoin adoption and providing Bitcoin-backed loans to Riot Platforms, which will drive non-transaction revenue and disrupt the traditional financial system. These steps are seen as increasing Coinbase's addressable market and long-term value by leveraging blockchain technology for more efficient payments.

“If they can do that, if they can pull off that kind of disruption, there is massive potential for Coinbase.”

Travis Hoium argues that Coinbase is significantly undervalued, citing its current price-to-earnings multiple of 17 and price-to-free cash flow of 15.6. He highlights the company's strong balance sheet with $4 billion net cash and its growing non-transaction revenue streams, particularly from stablecoins and blockchain rewards, which provide stability. Hoium believes Coinbase has asymmetric upside potential as it aims to modernize the financial system, potentially generating tens of billions in revenue.

“I think the valuation is just too good to pass up. As I'm recording late in the day on Tuesday, price to earnings multiple for Coinbase is just 17. Enterprise value to sales is under six.”

The analyst believes Coinbase is a compelling buying opportunity due to its strong balance sheet with significant cash, growing non-trading revenues (like stablecoin and custodial fees), and an attractive valuation with a trailing P/E of 16.9. He argues that the market is underestimating its profitability and long-term tailwinds from blockchain infrastructure development.

“I think the tailwinds behind Coinbase are going to last decades and so $40 billion market cap that we're getting it at today the flexibility that management has with over $8 billion worth of cash on the balance sheet this is going to be one of those stocks that I think we're going to look back in a few years and see this as a phenomenal buying opportunity.”

The YouTuber suggests accumulating Coinbase on pullbacks, noting its current valuation (P/S below 10, P/E of 18) after a 50% drop from highs. He emphasizes the long-term growth driver of stablecoins, particularly USDC, and Coinbase's role in building blockchain infrastructure, envisioning it as a future 'AWS or JP Morgan of the blockchain' with potential for 20x upside.

“I think this is going to be one of those companies you want to accumulate on these pullbacks.”

Travis Hoium argues that Coinbase's long-term growth potential lies not in crypto trading, but in its infrastructure for tokenizing securities. He believes that if regulatory hurdles are cleared, Coinbase could become a key intermediary in moving traditional assets like stocks and bonds onto the blockchain, making financial transactions more efficient, transparent, and liquid. This innovation could significantly boost Coinbase's non-transaction revenue over the next 5-20 years.

“I think this is one of the ways that coinbase could help update the financial system this is something that Brian arm strong talks about all the time this is fundamentally what the company is trying to do and this is a great example of how they could do it”

The analyst is bullish on Coinbase due to the recent SEC lawsuit dismissal, which provides more regulatory clarity and reduces pressure on the company. He highlights the growth in non-transaction revenue, particularly from stablecoins like USDC, and views Coinbase as a key infrastructure provider for the blockchain. He believes the company has significant long-term potential despite current valuation metrics.

“I think the future for coinbase is getting brighter... I'm the most bullish on is the use cases for the stable coins in particular usdc token I think that can be ultimately very disruptive.”

The analyst is bullish on Coinbase long-term due to its potential to become the infrastructure layer for the future of finance, particularly through tokenized securities and stablecoin adoption. While the current valuation is high, he would consider buying more shares during a market downturn, focusing on the growth in subscription and services revenue as a key indicator of its progress.

“If there is some sort of downturn that's when I would like to buy more shares of coinbase at 10 times sales not necessarily the kind of stock I'm going to be adding aggressive although haven't bought in a while but it's getting more intriguing as the results are getting better and better”

The analyst believes Coinbase is a strong buy due to its growing stablecoin revenue, particularly from USDC, and increasing transaction volume on its exchange. He highlights the company's shift towards becoming a financial services infrastructure provider, with new revenue streams like Bitcoin-backed loans and the Base blockchain, which he argues are underappreciated by current analyst estimates. He also praises Coinbase's management for focusing on utility and avoiding speculative trends.

“I continue to think that this is likely the best play in in crypto today”

The analyst sees Coinbase as a disruptive fintech player, driven by the transformative potential of blockchain technology. Its non-trading revenue, including stablecoin revenue (USDC), blockchain rewards, and custodial fees, is growing and offers significant scalability. Coinbase's role in making money movement faster and more efficient, along with its Base blockchain and developer tools, positions it to capitalize on the long-term growth of the cryptocurrency and blockchain market.

“coinbase is going to be much more of a disruptive player in fintech and isn't really thought of as a fintech company it's thought of more as a cryptocurrency company but I want to take the fintech angle with coinbase and the reason is I think the blockchain itself is going to be a disruptive force in technology and in the and in financial services.”

Travis Hoium argues that Coinbase is a strong buy due to its significant, often overlooked, growth driver: the USDC stablecoin. He explains that Coinbase, as a 50/50 partner with Circle in the creation of USDC, generates substantial revenue from the stablecoin's market cap growth, which has seen rapid expansion. This growth also fuels Coinbase's 'other subscription and services' revenue, as increased USDC utility drives demand for Coinbase's underlying blockchain infrastructure, wallets, and developer tools, positioning it as more than just an exchange.

“I think there's a lot of momentum and I think that will continue don't know how high that market cap is going to go but I definitely think it's going higher.”

The YouTuber bought Coinbase when it was trading at $60 per share, noting its market cap was $14.6 billion with $5.3 billion in cash, meaning over a third of its value was cash. Despite the crypto winter and cost-cutting, the potential for the company to disrupt the financial system offered 10x to 100x upside from that price point, making it a high-conviction buy at the right valuation.

“I was not buying coinbase at $300 per share I was buying coinbase when it was $60 a share the spotlight article which I'll put a link to in the show notes this goes back to June 1st 2023 the company's market cap was $14.6 billion and they had $5.3 billion in cash and equivalence on the balance sheet.”

The YouTuber is extremely bullish on Coinbase, viewing it as a foundational company for the Web3 future beyond just crypto trading. They highlight the significant growth in non-trading revenue, particularly from stablecoin revenue, custodial fees, subscriptions, and staking rewards. The company's infrastructure, wallets, and developer tools position it to benefit from the tokenization of traditional assets and increased blockchain transactions, representing a multi-decade tailwind.

“I think of coinbase as having the potential to be the JP Morgan the AWS and the Google identity of the web 3 future.”

Travis Hoium is bullish on Coinbase due to a significant surge in trading volume in Q4, which could lead to substantial revenue and cash flow. He also highlights the growth in non-trading revenue (stablecoins, staking) and the long-term potential for blockchain disruption, with Coinbase positioned to benefit from institutional adoption and tokenization of assets.

“I continue to be bullish on the future of the company because I think the blockchain can be so disruptive.”

The analyst is bullish on Coinbase for the long term, viewing it as a leader in the crypto industry that is building essential infrastructure for the future of digital finance, particularly in stablecoins and blockchain technology. Despite recent earnings showing a dip in transaction revenue, the company's growing subscription and services revenue, strong balance sheet with significant cash, and a new share repurchase authorization are positive indicators. The analyst believes that while the stock might be volatile in the short term, its long-term potential for growth is substantial as blockchain adoption increases.

“I continue to be bullish but maybe not a great time to be buying shares because they may continue to slip over the next few months but let me know what you think about the results from coinbase”

The analyst is bullish on Coinbase due to its significant involvement in stablecoins, particularly USDC, and its role in providing infrastructure for the blockchain industry. He argues that as stablecoins become a more common transaction medium, Coinbase will benefit from increased assets backing these stablecoins, leading to more interest revenue, and from its staking and custodial fees. The potential acquisition of Bridge by Stripe is seen as a positive catalyst for the broader stablecoin ecosystem, indirectly benefiting Coinbase.

“The best way right now as a public investor is to invest in coinbase and watch those segments grow.”

The YouTuber is bullish on Coinbase due to several factors: political rhetoric becoming more crypto-friendly, the growth of the USDC stablecoin's market cap which benefits Coinbase's stablecoin revenue, and the significant traction of Coinbase's Base blockchain. He views Coinbase as an infrastructure play for the growing crypto industry, with both subscription/services and transaction revenues on the rise, indicating strong operational momentum.

“continue to be bullish on coinbase and I'm going to be back here when they report earnings late in October October 30th is when that comes out”

Travis Hoium is bullish on Coinbase, citing its central role in enabling stablecoin payments for major businesses like PayPal, Google, and Ernst & Young. He highlights Coinbase's Prime Solutions acting as a crypto bank for B2B transactions and its significant revenue generation from USDC stablecoin holdings, which is growing. This indicates a maturing industry and Coinbase's strong position in the future of digital payments.

“so love what I'm seeing here from coinbase and I'll be covering this more when they do release their third quarter earnings results”

The YouTuber argues that Coinbase's future lies beyond being just a crypto exchange, focusing on its foundational role in the blockchain ecosystem. He points to growing non-exchange revenues from services like blockchain rewards, custodial fees (for Bitcoin ETFs), stablecoin revenue (USDC), and smart contracts for illiquid assets. Despite a current P/E of 33, he sees it as a reasonable price for a company with potential to be 10x larger in a decade, driven by future blockchain innovation and regulatory clarity.

“I think this is a company that can grow well into double digits for the foreseeable future it's not going to necessarily be driven by The Exchange business it's going to be driven by all these other ancillary services that are starting to make money but are only going to get bigger and bigger over time.”

The YouTuber argues that Coinbase is well-positioned to disrupt traditional credit card networks due to the efficiency and lower transaction costs of blockchain technology. He highlights Coinbase's Base blockchain and Wallet as a Service, especially with Apple allowing in-app NFC transactions, as key drivers for future adoption and profitability. The increasing credit card surcharges for businesses and consumers will incentivize a shift to cheaper blockchain-based payments, benefiting Coinbase.

“this has been one of my cases for the blockchain and coinbase specifically as a stock is it's actually much more efficient to transfer money on the blockchain than it is to transfer it through traditional debit card and credit card networks”

Travis Hoium is bullish on Coinbase, viewing it as a blockchain infrastructure company rather than just a crypto exchange. He highlights its role in stablecoin transactions, particularly USDC, and its potential in the future of payments through innovations like NFC access for crypto transactions and efficient cross-currency transfers. Despite a high valuation, he believes it's time to start accumulating due to its strong positioning in the evolving digital economy.

“I still like coinbase stock and I'm much more interested in adding to my position which I haven't done for quite a while than I have been in at these prices than I was when the stock was a little bit higher.”

Travis Hoium is bullish on Coinbase due to its strategic shift towards subscription and services revenue, aiming to become the 'AWS of crypto.' He highlights the consistent growth in these non-transaction revenues, strong balance sheet, and potential for long-term growth as blockchain adoption and regulatory clarity increase. He believes this foundation-building will lead to significant returns over the next decade.

“It's one of the reasons that I'm bullish on coinbase stocks so let's go through the earnings and show exactly why this is a company that you look should look at very differently today than the way that you were looking at it a year ago.”

The analyst is bullish on Coinbase due to its foundational role in the crypto ecosystem. Key reasons include its financial benefit from the stablecoin USDC, its strategic stake in Circle (which is preparing for an IPO), improved market share in its exchange business, its role as a custodian for new crypto ETFs, and the growing activity on its Base blockchain. These factors position Coinbase as a critical infrastructure provider for the future of blockchain.

“I think over the next 5 to 10 years this is going to be a phenomenal stock for investors.”

The analyst is very bullish on Coinbase long-term, viewing it as a disruptive company in the financial space leveraging blockchain technology. He highlights its diverse revenue streams beyond just trading, such as stablecoin revenue (USDC), staking, and custodial services for new Bitcoin ETFs, which provide more stable growth. He believes Coinbase is well-positioned to lead the next generation of financial instruments as blockchain adoption increases for various use cases like financial transactions and digital asset ownership.

“I think this is a very well-positioned company very well positioned leadership and a stock that I'm very bullish on longterm as a result”

Travis Hoium is bullish on Coinbase long-term, viewing it as an infrastructure and identity company rather than just a crypto trading platform. He believes their new smart wallet initiative, which simplifies crypto onboarding, eliminates network fees for users, and integrates with multiple blockchains, is a significant step towards disrupting traditional finance and making blockchain technology more accessible to a billion people. This strategic move positions Coinbase as a leader in building the foundational tools for the future of the blockchain ecosystem.

“I still think coinbase is more of an infrastructure and identity company than it is just a cryptocurrency trading company.”

The YouTuber is bullish on Coinbase due to the recent approval of Ethereum ETFs, which will increase Coinbase's custodial revenue and drive broader crypto adoption. He believes this could open the door for more crypto ETFs, further benefiting Coinbase's exchange business and overall ecosystem growth, despite the current high valuation multiples.

“I think this is phenomenal news for the company continues to push the stock higher I am a happy shareholder in coinbase and just happy to let this ride higher in the asymmetric portfolio”

The analyst plans to hold Coinbase for the long term, seeing it as more than just a crypto exchange. He emphasizes its significant revenue from stablecoins like USDC, generating nearly a billion dollars annually, and its role in building blockchain infrastructure for the financial system. He believes Coinbase could evolve into an identity, financial institution, and cloud services company as blockchain adoption grows.

“I think coinbase will ride that wave and so that's why it's one of the companies that I plan on holding for at least the next decade or two”

The YouTuber is bullish on Coinbase due to the fundamental disruption occurring in payments, driven by major institutions like Stripe adopting blockchain technology. He argues that Coinbase is a primary beneficiary as the 'adult in the room' providing essential infrastructure and custody solutions for this shift, despite its current high valuation. The increased adoption of stablecoins, facilitated by Stripe's integration, is expected to significantly boost Coinbase's revenue streams.

“This is one of the reasons that I was so bullish on coinbase a year ago and why it continued to be bullish despite the fact that shares are up 250 or 300% just a crazy Run for the stock but there's still a long Runway of growth if the company's able to get some of these products adopted on on a wider level.”

The analyst is bullish on Coinbase due to its integral role in the evolving blockchain financial system, particularly with the increasing adoption of USDC stablecoin. Higher interest rates are boosting Coinbase's stablecoin revenue, and BlackRock's new blockchain initiatives are validating the technology, which Coinbase is positioned to benefit from as an infrastructure provider.

“I think are going to be a phenomenally profitable tools long term so don't overlook these developments that are happening on the blockchain today because a decade from now this is what's ultimately going to drive these companies value”

The analyst is bullish on Coinbase due to its growing custodial revenue from Bitcoin ETFs, which he believes will significantly increase in Q1 2024 and beyond. He also anticipates future growth from Ethereum and other altcoin ETFs, positioning Coinbase as a key infrastructure provider in the crypto space. He notes that analyst estimates might be too low, potentially leading to significant earnings beats.

“I think this is still the opportunity for coin bases to be the infrastructure company the bank the identity company the cloud services company I didn't even get into staking here today but staking is another major Revenue source for coinbase and that is one of the things that helps the blockchain run so a lot of opportunity for coinbase and this is one I think we should be paying attention to because ETFs is a huge reason that the crypto Market is as is up as much as it is in 2024”

The analyst is bullish on Coinbase due to multiple tailwinds, including its role as custodian for Bitcoin ETFs, generating consistent revenue. He also points to benefits from the USDC token, potential value unlock from its stake in Circle, and increased trading volume. Long-term, he sees significant potential in the shift of financial products onto the blockchain, which will benefit Coinbase as the financial marketplace moves on-chain.

“Coinbase is the custodian for a vast majority of the Bitcoin ETFs so they're going to benefit generating consistent ongoing revenue from that custodian position so I think that's going to be a Tailwind.”

The YouTuber is bullish on Coinbase due to its emerging role as a blockchain service and infrastructure provider for major financial institutions like BlackRock. He believes the company's long-term growth will be driven by its technology and infrastructure offerings, rather than just its centralized exchange, as evidenced by BlackRock's recent tokenized fund built on Ethereum and Coinbase's Project Diamond.

“This is one of the reasons that I'm so bullish on coinbase the stock has run up tremendously over the last 6 to 12 months a lot of that is because trading of cryptocurrencies is starting to improve on coinbase centralized exchange but I think longterm what you're going to want to look at with coinbase is that this becomes an infrastructure company a technology company and these are the kind of deals that show that that progress and it's happening I think at a really rapid rate”

The YouTuber suggests Coinbase is making fundamental improvements, including a strategic debt offering to repurchase higher-interest debt, which is a conservative move by management. Additionally, Coinbase is positioning itself as a player in the artificial intelligence space by leveraging blockchain for data security, provenance, and micropayments, which could provide significant optionality for future growth, even if the financial impact isn't immediate.

“I don't know if this is going to be a financial driver for the company over the next couple of years but if there is a need for something like blockchain use with artificial intelligence that could be another piece of optionality for the company.”

The YouTuber argues that Coinbase stands to benefit significantly from the approval of an Ethereum ETF. As a major centralized exchange and custodian for many crypto ETFs, increased crypto trading volume and custodial fees would provide a substantial tailwind for Coinbase's revenue and operational performance. This event could lead to a multi-fold increase in assets under Coinbase's custody.

“if it is approved that would absolutely be a bullish sign for coinbase and for crypto values in general”

The YouTuber believes Coinbase is a long-term buy and hold due to several tailwinds. These include increased trading volume from Bitcoin's rise and ETF inflows, growing revenue from the USDC stablecoin, and the potential for blockchain innovation to disrupt traditional finance, creating new revenue streams for Coinbase. He acknowledges the high valuation but points to historical revenue peaks to suggest it's not 'crazy' given the growth potential.

“I think this is long-term the kind of business you want to just buy and hold.”

Travis Hoium argues that Coinbase is a better investment than Bitcoin due to its real utility and cash generation. He highlights Coinbase's role as a custodian for Bitcoin ETFs, its significant revenue from crypto trading transactions, and growing subscription and services revenue, particularly from stablecoins and blockchain rewards. He believes Coinbase offers more potential and optionality as a company that reinvests cash to grow its business long-term, benefiting from the overall growth of the crypto ecosystem.

“I want to give a few reasons why I think coinbase is actually a better bet today than Bitcoin it's up more over the past year than Bitcoin and I think that performance will continue long term.”

The analyst is bullish on Coinbase due to increased crypto trading volume, its role as custodian for Bitcoin ETFs, and growing stablecoin revenue from USDC. He also anticipates future growth from potential Ethereum/Solana ETFs, international expansion, and eventual regulatory clarity in the US, which would enable broader utility for its blockchain infrastructure.

“I'm really excited about coinbase in the future and think that 2024 could be a much much better year than 2023.”

The YouTuber, a shareholder, is holding Coinbase due to strong financial results, including net income and reduced debt, indicating a recovery from the crypto winter. He highlights future revenue streams from ETF custodianship and potential for growth in crypto payment rails, positioning Coinbase as a well-capitalized leader in a consolidating industry.

“stock at own for a while up a ton over the past year but I think I still think there's a lot of room to run higher maybe volatile over the next couple of years that's just the way this stock has been and that's what growth and that's what typically happens with growth stocks but definitely not one I am selling right now”

Travis Hoium argues that Coinbase is well-positioned as the leading centralized crypto exchange and a trusted custodian for new Bitcoin ETFs, which will drive significant revenue. He also highlights their strategic involvement with the USDC stablecoin, generating substantial interest income, and their long-term potential as an infrastructure partner for web3 and blockchain financial products. Despite recent gains, he believes the company is just scratching the surface of its potential.

“I think coinbase is going to play a central role that's why this is a company that I still think has a ton of upside despite the fact that shares are up 315 from their lows in early 2023.”

The YouTuber is bullish on Coinbase due to its potential to disrupt traditional financial institutions through innovations like its wallet's increased utility for sending money via text and Project Diamond, which demonstrated debt instruments on the blockchain. These initiatives, combined with the recovery in the crypto market, position Coinbase for significant growth beyond just being a centralized exchange.

“I think there's a lot of reasons to be bullish on coinbase heading into 2024 a lot of ways that they can disrupt the traditional financial institution and if the momentum continues in cryptocurrencies and blockchains people keep building things including coinbase I think that's going to be great for the company Long Term this is a stock that I own and intend to hold for a very long time”

The YouTuber believes Coinbase is well-positioned to capitalize on the tokenization of debt instruments, a market significantly larger than equities. Project Diamond, Coinbase's initiative to bring debt instruments onto the blockchain, could disrupt traditional opaque debt trading by offering transparency, efficiency, and liquidity, potentially making Coinbase a major player in this evolving financial landscape.

“coinbase could play a major role in those institutions in the future so something to keep an eye on”

The analyst is bullish on Coinbase due to increased trading volume across the crypto market, especially in altcoins, and Coinbase's solidified market share after competitors like FTX collapsed. He also highlights the significant growth in subscription and services revenue, particularly from stablecoin operations and custodial fees, which provides a more diversified revenue stream. The company's strong balance sheet and long-term potential in Web3 and blockchain integration further support the buy thesis.

“coinbase continues to have tremendous upside as an investment if you are bullish on the blockchain cryptocurrency and all the utility that can be built there.”

Travis Hoium argues that Coinbase is the best stock to own in the cryptocurrency space due to its competitors' collapse (FTX, Binance), its strong regulatory compliance, and significant cost-cutting measures. He believes these factors position Coinbase for substantial profitability and market share gains as the crypto market potentially recovers, especially given its operating leverage and new growth avenues like institutional services and ETFs.

“I still think this is the best stock to own in the cryptocurrency space it has the reputation that both institutions and Regulators want to work with that is a positive especially as we move to a more digital future so definitely a company that I own and I'm looking to add more of in the future”

The YouTuber expresses strong interest in Coinbase as a growth stock, highlighting the growth in its services and products revenue, including stablecoins, cloud services, and custodial services for crypto ETFs. He believes Coinbase is well-positioned for long-term growth as blockchain technology becomes more integrated into the digital future, noting its recent free cash flow positivity.

“long-term just a phenomenal growth stock to growth stock related to the cryptocurrency and blockchain technology”

The analyst is bullish on Coinbase for the long term, citing its ability to increase cash reserves and cut costs during a crypto bear market. He believes the company is well-positioned to benefit from future blockchain adoption through its subscriptions and services revenue, and has emerged as a solid and critical partner in the industry after recent market turmoil.

“I'm bullish on this stock is if they can do this well in this kind of Market how are they going to do when things are even more active”

Coinbase is positioned as a technology company building infrastructure for the maturing blockchain industry, moving beyond crypto volatility. It has a strong cash position ($5.2 billion) and is cash flow break-even. The long-term trend involves major companies adopting stablecoins and smart contracts, for which Coinbase provides essential services. Potential near-term catalysts like Bitcoin ETF approvals could further boost the stock, which has pulled back 30% from its summer peak.

“I think this is going to be a long-term growth Trend the stock has pulled back about 30% from its summer Peak and I think we may have some near-term Catalyst if we get things like Bitcoin ETFs approved which may even happen in the next few weeks”

Travis Hoium is bullish on Coinbase due to its strategic partnership with Circle regarding the USDC stablecoin. He highlights that Coinbase will continue to share revenue from USDC holdings and interest generated from its backing assets, which is significant given rising interest rates. Additionally, Coinbase will gain an equity stake in Circle, benefiting from the wider adoption of USDC by companies like Visa and Mercado Libre for transaction settlements.

“I want to get to a couple of news items over the past few months that I think are very good for coinbase base and the crypto industry in general”

The analyst is bullish on Coinbase due to its significant stake in the USDC token consortium and its infrastructure development for using USDC and other blockchains. He believes that the increasing adoption of stablecoins, particularly USDC, will benefit Coinbase as a key player in this evolving financial landscape.

“I think the usdc token is going to ultimately be used in a lot more places that's one of the reasons that I'm very bullish on a company like coinbase and the infrastructure that they're building for using the uscc token and other blockchains”

The YouTuber is encouraged by Coinbase's long-term strategy, specifically highlighting the successful launch and early momentum of its Base mainnet. He notes the rapid asset migration to Base, increasing user activity, and initial revenue generation from sequencer fees, indicating progress in making blockchain technology more accessible and usable for developers and consumers.

“for coinbase this is the kind of thing that we want to see as investors so so look for more progress on base but early on I'm very encouraged what's with what's going on”

The analyst highlights several red flags for Coinbase, including a significant drop in transaction revenue, particularly from high-margin consumer trading, and a 50% decline in the market cap of the USDC token, which impacts interest income. Additionally, high stock-based compensation is diluting shareholders. While acknowledging its long-term potential in blockchain, these issues suggest caution.

“I want to go through some of the negatives today because there are some things to criticize coinbase for some other some of them are in the company's control and some of them aren't.”

The analyst views Coinbase as the best way to play the crypto market, citing strong Q2 2023 financial results that exceeded low expectations. Key positives include significant cost-cutting, growing subscription and interest revenue (now matching transaction revenue), and a robust cash position. He believes the company is well-positioned to capitalize on the future growth of blockchain technology.

“I think this is still the best way to play the crypto market today.”

Hoium suggests Coinbase as a buy for those interested in blockchain technology, emphasizing its growing subscription revenue, which provides a more stable income source than trading fees. He also points to the company's strong balance sheet with significant cash reserves, which should help it navigate the current 'crypto winter' and capitalize on future blockchain adoption.

“great balance sheet they've just got to get through the next couple of years and see what that upside is so a stock that I still really like right now”

The analyst argues that the SEC lawsuit against Coinbase, while seemingly negative, will ultimately benefit the company long-term by providing regulatory clarity. This clarity will allow Coinbase to innovate and settle into its role providing cloud and identity services for blockchain technology, which he believes is the future of the company beyond just token trading. He also notes the company's recent debt repurchase at a discount as a positive financial move.

“I have argued here on this channel that this may actually be good news for coinbase long term.”

The YouTuber owns Coinbase shares and maintains a hold stance despite the SEC lawsuit. He believes the company has global growth opportunities outside the US, particularly in its high-margin subscription services, and could benefit if it wins the legal battle, potentially weakening competitors like Binance. However, he acknowledges significant risk due to the ongoing regulatory uncertainty.

“I'm bullish on that technology being valuable in the future and that's the reason that I own shares of coinbase but there's absolutely risk involved in that.”

Travis Hoium believes Coinbase is a good long-term investment due to its significant cost reductions, which are helping it navigate the crypto winter, and the substantial interest income it's generating from its USDC holdings. He argues that if one believes in the future of blockchain technology, Coinbase is well-positioned to play a major role, and its potential reward outweighs the risks.

“if you think the blockchain is going to be a piece of our future like I do I think coinbase is going to play a big role and that's why I think the potential reward outweighs the potential risk with coinbase that's why I stay invested in this stock”

Travis Hoium believes Coinbase has a bright future despite regulatory pressures in the US. He predicts the company will successfully navigate legal challenges, benefit significantly from USDC stablecoin revenue due to rising interest rates, and potentially acquire an NFT marketplace. He also expects growth from international markets and anticipates the company's cash levels to stabilize due to cost reductions and increased Bitcoin value.

“This is one that I own and continue to see a bright future in”

The analyst is a long-term shareholder in Coinbase and believes the company is making the right moves despite regulatory challenges. He argues that the current regulatory crackdown, particularly from the SEC and banking regulators, ironically strengthens Coinbase's value proposition by highlighting the need for alternative financial systems. While acknowledging short-term concerns about free cash flow and net income, he remains invested due to the company's global reach and its fight against what he perceives as inconsistent regulation.

“I'm a shareholder in coinbase I think they're making All the Right Moves... long term I really like where this company is headed and that's why I continue to stay invested.”

The YouTuber believes Coinbase is a strong long-term investment due to its strategic moves in building foundational infrastructure for the Web3 era, including its new Layer 2 blockchain 'Base,' the acquisition of One Digital River for institutional asset management, and the 'wallet as a service' offering. These initiatives position Coinbase as a trusted partner and a key player in expanding the crypto ecosystem, despite current market downturns and profitability challenges.

“This is the kind of company that I want to bet on long term because I think 10 or 20 years from now they will be a name that's synonymous with the blockchain.”

The analyst believes Coinbase is becoming a sustainable business despite the crypto downturn, citing growth in subscription and services revenue (especially interest income from USDC reserves) and significant reductions in operating expenses. He argues that if blockchain and crypto become a significant part of the digital future, Coinbase is well-positioned to be a leader. He is adding to his position based on the recent earnings report.

“This is a downtime in the market but that's when you want to buy these disruptive companies and these disruptive stocks that's why I own shares of coinbase and I'm looking to add more based on what I think was a pretty good earnings report for the fourth quarter”

The analyst believes Coinbase is a good long-term investment due to its strengthened position as a leading crypto exchange after FTX's collapse, its significant market share in Ethereum staking which provides a new revenue stream, and its 50% ownership of the USDC token's Center Consortium, which generates substantial interest income from backing assets, especially with rising interest rates.

“I want to go into three reasons that I think that coinbase is actually a good long-term investment.”

The YouTuber sees strong parallels between Coinbase and early Amazon, particularly in the CEO's long-term vision and strategy of trying many ventures. They believe if the crypto/web3 space has a future, Coinbase is positioned to be a dominant player, similar to Amazon's rise in e-commerce, but advises waiting for the company to navigate the current 'crypto winter' and demonstrate profitability from its diverse business lines before investing.

“I want to make sure that they can get past it because so that I know that they're the Amazon and not the you know pick your pets.com type comparison in the e-commerce business so that's a totally fair way to think about this investment right now is I'm interested but it's not time yet”

The analyst believes Coinbase is undervalued given its $8.6 billion market cap and over $5 billion in cash. He highlights two key overlooked revenue streams: windfall profits from its 50% ownership in USDC, which could generate up to $800 million in revenue, and significant income from Ethereum staking, where Coinbase holds an estimated 15% of all staked ETH. Additionally, recent layoffs are expected to reduce costs and improve profitability.

“I think there are two things that investors are missing with this company that could make it really valuable long term.”

Travis Hoium argues that Coinbase is a compelling value stock due to its strong balance sheet, holding $5.6 billion in cash, and a significant, under-recognized income stream from its 50% stake in the USDC stablecoin consortium. He estimates this passive income could be worth $8 billion, effectively making the core exchange business and other ventures free at the current market capitalization. The rising interest rates further enhance the profitability of this USDC income.

“I think that makes this a really compelling Value stock. We may not be thinking about crypto companies in value terms right now, but Coinbase is maybe a company that we should.”

The analyst views Coinbase as a compelling investment due to its strategic partnership with Google for crypto payments, which highlights its role in building out corporate infrastructure for Web3. He believes Coinbase is positioning itself as a financial and identity solution provider, making blockchain easier for businesses and consumers, and enabling companies to save on transaction fees.

“I think this is a notable partnership for Coinbase specifically and is another reason to put cryptocurrency on your radar even if you're not interested in buying tokens yourself.”

The analyst is very bullish on Coinbase, viewing it as a combination of JPMorgan, Google, and AWS for the crypto and Web3 space. Despite recent losses and a 'crypto winter,' the company has a strong cash position ($6.2 billion) relative to its market cap ($17.8 billion) and continues to see demand for its services, indicating long-term growth potential in Web3 infrastructure and identity solutions.

“That's why I'm very bullish on Coinbase stock. I own shares and I think this is a company that has a really bright future.”

The analyst believes Coinbase stock is a good long-term investment despite recent losses. He argues that the reported $1.1 billion loss is misleading due to non-cash charges, with the actual cash loss being much lower. Key growth drivers include a partnership with BlackRock, potential revenue from Ethereum staking after the merge, and the new in-app MPC wallet feature, positioning Coinbase as a leader in Web3.

“I think coinbase is really positioned well to be a leader in web 3. ... I think this is a really well positioned company.”

The YouTuber suggests Coinbase is an attractive play for those who believe in the cryptocurrency theme, noting its current valuation is relatively cheap compared to its historical trading multiples. He highlights a price-to-sales ratio of 6.1x and a P/E of 21x, which are significantly lower than past investor willingness to pay.

“This is a relatively cheap stock. And if you believe in that cryptocurrency theme and that cryptocurrency development over the next few years, Coinbase would be an attractive play into its earnings here.”

The YouTuber recommends Coinbase (COIN) as the dominant player in the US cryptocurrency market. Despite recent declines from post-election highs and harsh comparables, the company is expected to show strong double-digit revenue growth in the current and next year. The average analyst price target is $350, suggesting 66-67% upside, with even the lowest target indicating positive returns.

“Folks, this is the dominant player in the US market with $295 billion in quarterly trading trading volume and 516 billion half a trillion dollars in assets on that platform.”

The YouTuber likes Coinbase as the de facto crypto platform in the US, benefiting from the push for looser crypto regulation and a digital dollar framework. He highlights its involvement with the USDC stablecoin and its position as a primary exchange for cryptocurrencies.

“Within this cryptocurrency theme, I do like Coinbase here, ticker CO IN as really the de facto crypto platform in the US.”

The YouTuber is buying Coinbase, viewing it as the de facto regulated US crypto platform. He notes its current discount from highs (down 25% from $400 to $320) offers a second chance to buy. Coinbase benefits from fees on crypto transactions and is an early investor in Circle Internet Group, gaining a percentage of USDC profits and yield.

“Coinbase here really the de facto US crypto platform. It's regulated. It has shares. So, it's regulated by the SEC. So, very much a a safer and more stable crypto platform than a lot of these other ones that that have frankly been burned before.”

The analyst suggests adding to Coinbase regularly, especially on dips, despite its high price-to-sales valuation. The company's aggressive move into new products, its core market exchange as a competitive advantage, and its role as co-founder of Circle (a stablecoin issuer) are seen as strong growth drivers that could lead to upside surprises.

“So, this is one I would be adding to regularly, especially on any dips.”

The YouTuber suggests Coinbase as an indirect way to invest in the stablecoin theme. He notes that Coinbase co-founded the USDC stablecoin with Circle and generates revenue from interest on reserves and transaction fees, positioning it to benefit from the growth of stablecoins.

“Now, there are other indirect ways to invest in this theme, like with shares of Coinbase, ticker CON, which is setting itself up to thrive in the stable coin era.”

The YouTuber is bullish on Coinbase Global, noting its recent surge and the potential for a more favorable regulatory environment under a new administration, which has shifted its stance on cryptocurrencies. As the largest platform in the US, Coinbase could see easier product growth without SEC interference.

“Coinbase is by far the largest platform in the United States and now could have an easy Runway to product growth like option trading and without having to deal with SEC chair guinsler.”

The analyst strongly advises against investing in Coinbase, arguing it's not competitive due to high fees and its stock performance is too closely tied to crypto prices, underperforming Bitcoin itself. He believes the business model is unsustainable in the current environment, with high dependence on retail transactions and significant risk of total loss for assets held on the platform.

“My point is just Why take the additional risk of loss on a platform and why invest in a platform that is likely going to underperform crypto.”

The YouTuber advises avoiding Coinbase stock due to a new risk disclosure in their 10-Q report, which states that customer crypto assets could be treated as general unsecured creditors in the event of bankruptcy. This, combined with recent poor earnings, declining users, and high debt, suggests significant risk for investors.

“The company added a new risk disclosure in its quarterly 10Q report buried deep on page 84 of the 142-page document here it says we held 256 billion dollars in custodial fiat currencies and cryptocurrencies on behalf of customers okay so nothing new nothing surprising coinbase is holding the crypto and the money that you have in your account but now look at what it says later in that same paragraph in the sentences before here it's talking about the financial risks and even bankruptcy of the company and it says because custodial held crypto assets may be considered to be the property of the bankruptcy estate in the event of a bankruptcy the crypto assets we hold in custody on behalf of our customers could be subject to bankruptcy proceedings and such customers could be treated as our general unsecured creditors”

The analyst suggests Coinbase is well-positioned to facilitate the exchange of digital assets in the Web 3.0 ecosystem, similar to how traditional exchanges operate for stocks. While revenue growth is slowing and the stock is still somewhat expensive on a price-to-sales basis, the company's transition to products beyond crypto trading, such as NFTs and Web 3.0 assets, could drive significant returns. Analysts have an average target price of $317, indicating an 83% upside.

“Coinbase is one of the best position to fill that role and to be honest here the company needs to transition to products outside of that cryptocurrency trading as soon as possible.”

The YouTuber sees Coinbase as a strong buy, expecting significant growth from its expansion into NFTs and other digital assets beyond crypto trading fees. Despite uncertain sales and earnings forecasts due to crypto volatility, he notes its high sales growth (364% last year) and 42% net margin, with analysts giving a 75% upside to a $400 price target.

“coinbase ticker coin is one that we've talked about on the channel before and another where i think the revenue generation is just getting started”

Despite preferring direct cryptocurrency investments, the YouTuber believes Coinbase can perform well as a platform. He includes it as one of the largest investments in the ARK Fintech Innovation ETF.

“and while i do like to invest directly in cryptocurrencies instead of on the platform i think the coinbase here can do really well”

The YouTuber suggests Coinbase (COIN) as a technical play with potential for a quick turnaround. He notes that unlike Strategy (MicroStrategy), Coinbase has different factors that can help it propel higher, making it a good short-term opportunity.

“Guys, this is more of a technical situation that this came across my radar with. And you guys know I'm a technician. Matter of fact, I am a surgeon. So, I like to play a play that I see can have a quick turnaround for you all, a blastoff.”

The YouTuber suggests buying Coinbase, especially if its price drops further, in anticipation of future crypto market rallies. He views it as a key asset to hold when Bitcoin and other cryptocurrencies start to perform well again.

“They're getting pummeled this year. So while they're down, beating down low, sitting at 177, if they go down lower, you want to make sure you are all over this in an anticipatory way.”

The YouTuber recommends Coinbase as an alternative or complement to Bitcoin in a portfolio, but offers no specific analytical reasoning for this choice.

“You guys need to have Bitcoin in your portfolio but if you don't have Bitcoin or lateral to Bitcoin you need to have coinbase okay coinbase needs to be in your mix all right.”

The YouTuber recommends Coinbase as a way to gain exposure to the crypto market, especially Bitcoin, suggesting it will 'take off' under the new political regime. He emphasizes not being left behind as Bitcoin potentially reaches $100,000.

“For those of you that want to play Bitcoin or another way maybe a cheaper way maybe you don't want to pay $5,000 for one Bitcoin I want you guys to have coin as part of the in terms of something that's going to take off under this new regime that we have in office.”

The YouTuber highlights Coinbase as a way to play Bitcoin's potential upside, noting its recent strong performance and high trading volume. He suggests keeping it on the radar as a stock that can 'fly' when it takes off.

“I told you guys yesterday in terms of stocks that's going to explode stocks that's going to fly was Bitcoin but Bitcoin another way to play Bitcoin is coinbase okay and look at this one absolutely busy today put this on your radar because these are some of the things that sometimes get overlooked but has the ability to fly when it takes off okay”

The YouTuber suggests buying Coinbase on any pullback, viewing it as a dip-buying opportunity. He believes it will ride back up to $205-$207 and eventually reach all-time highs at $212, offering exposure to the crypto market without directly trading cryptocurrencies.

“if it pulls back that's a dip and buy the dip opportunity for you to get in to ride it back up to 205 207 and eventually alltime Highs at 212”

Coinbase is seen as a significant disruptor to traditional banking by offering compelling yield products on USDC, directly competing with checking and savings accounts. The analyst argues that Coinbase's transparency, public trading status, and focus on building a franchise make it a more legitimate threat than previous crypto yield offerings, attracting wealth from digitally native generations.

“Coinbase much more coming for core banking business now.”

The analyst acknowledges Coinbase as a leader in the crypto space, excelling in both retail and institutional offerings. While recognizing its strength in crypto, they note it lacks the equity offerings of Robinhood, suggesting a competitive but distinct market position. They cover Coinbase and own it in various funds, indicating a neutral to positive stance.

“But you have a company like Coinbase that was bred, you know, and born in the crypto space. They obviously I think it's fair to say understand it a bit better than a company like a Robin Hood.”

The speaker argues that Coinbase is strategically positioning itself to be the 'front door' to the emerging on-chain economy. By building platforms like Base and products like Coinbase Wallet and USDC, Coinbase aims to vertically integrate and capture value from the anticipated 'Cambrian explosion' of on-chain applications. This strategy is expected to make Coinbase incredibly lucrative by owning the user interface for a vast array of future on-chain activities.

“if we can build a platform that can support those thousands of apps millions of apps to emerge and then we can work really closely with coin coinbase to make it so all of those apps work best on coinbase and that the default when people are going to you know use their app whatever it is is coinbase that's going to be incredibly lucrative because we're going to own like coinbase is going to own the eyeballs”

Cathie Wood mentions holding Coinbase in portfolios where direct Bitcoin exposure is not possible. She sees it as a key player in the crypto ecosystem, representing the 'crypto angle' in the search for the next digital wallet or 'everything app' that will disrupt traditional financial services.

“in portfolios where we cannot hold um AR KB or uh you know hold uh that's really the only instrument or gbtc um uh we hold coinbase”

Cathie Wood believes Coinbase will benefit significantly from a pro-crypto regulatory environment and increasing institutional adoption of cryptocurrencies. Despite past volatility, the company is diversifying its revenue streams beyond retail trading, making it a key player in the growing crypto ecosystem.

“El fallo de la SEC a favor de Coinbase desatará una gran cantidad de innovación en torno al Bitcoin y en general dentro del ecosistema cripto.”

The YouTuber recommends Coinbase as a 'pickaxe factory' for the crypto gold rush, noting its strong momentum and significant trading volume. He emphasizes that Coinbase profits from market volatility, whether crypto prices rise or fall, by taking a slice of every trade across retail, institutional, DeFi, and NFT services. Growing institutional adoption further supports his bullish stance.

“Volatility equals volume. Volume equals revenue. So, every time the market pumps or dumps, Coinbase makes more money.”