Coinbase Conundrum
This is going to be a relatively (for me) short post today. I am still getting caught up from being out of the state this past weekend and this morning has been pretty crazy at work. Tons of emails to sift through on my work account and a server to build. All in a days work I guess...
I must have put the stock ticker for Coinbase on my watch list a while ago because I keep getting alerts on my phone about it.
I remember before it went public, I had plans to buy a handful of shares and see what happened. Then they started projecting the price to be in the $300 to $400 per share range and I realized that I probably should just hold off.
Quite glad I did as I am looking at the price right now.
The stock of Coinbase Global Inc. has went from a starting price of $342 (or so) when it went public to an all time high of about the same price in November of 2021 and now the current price of right around $132.85
Sure, when it comes to stocks and crypto, everything is down across the board, so it shouldn't be too shocking that Coinbase has taken such a fall. It's basically both of those things combined right?
My question is... given that I held off buying earlier, is now the better time to buy some Coinbase stock?
I know a lot of people that commented on my earlier posts were in the "pass" camp back then, but these are different times now.
I know we all have certain feelings for centralized exchanges. That being said, Coinbase still remains to be one of the biggest players in the crypto space. Everyone pretty much hates Binance, but for better or worse, millions(?) of people continue to use it.
The same can be true of Coinbase. Like it or not, it is an easy on-ramp for people into the world of crypto. People that want to make some of their own decisions about what they hold versus just investing in a fund.
I'm not saying I am going to buy some, but I am definitely thinking about it. If the price were to fall below $100 I might be thinking about it even harder than I am now.
What about you? Still a pass? Are you on the fence? Did you buy in earlier and are just holding on for some kind of recovery now?
I look forward to hearing from you in the comments!
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