Unconfirmed: Is Coinbase Stock a Good Buy? This Analyst Says Yes - Ep.217
Gil Luria, director of research at D.A. Davidson, talks about the upcoming Coinbase direct listing and his recent research note, “Introducing Crypto’s Amazon Moment.” In this episode, Gil discusses:
- his crypto background, including his experience as the first Wall Street analyst to cover Bitcoin back in 2013 (1:27)
- why the Coinbase IPO is going to be an inflection point for the crypto industry (3:02)
- why he gave Coinbase's upcoming stock a “buy” rating (4:14)
- who Coinbase's biggest competitors are (5:13)
- why Gil believes Coinbase is the “gold standard” in crypto (6:29)
- how investing in Coinbase stock compares to investing in actual crypto assets (8:13)
- how he came to $195 price target for COIN (10:39)
- why a $2 billion revenue estimate for Coinbase in 2021 might be conservative (12:01)
- how Coinbase is generating money outside of transaction fees (14:19)
- whether he expects the institutional adoption trend to grow (15:49)
- what his expectations are for the price of COIN on the day it opens (17:20)
- why GBTC is no longer trading at a premium to the spot price of bitcoin (18:20)
- whether Gil will continue to cover crypto (20:05)
- crypto News Recap (20:53)
Thank you to our sponsor!
Crypto.com: https://bit.ly/3jzkTAD
Download the Crypto.com app here: https://crypto.onelink.me/J9Lg/laurashinpodcasttesla
Episode links:
Gil Luria’s Twitter profile: https://twitter.com/gilluria
Crypto’s Amazon Moment: https://markets.businessinsider.com/currencies/news/coinbase-direct-listing-public-coverage-stock-price-amazon-cryptocurrency-dadavidson-2021-3-1030150896
Introducing Crypto’s Amazon Moment: https://unchainedpodcast.com/wp-content/uploads/2021/03/DA-Davidson-Coinbase-Initiation-20210302.pdf
Coinbase S-1 Filing: https://www.sec.gov/Archives/edgar/data/1679788/000162828021003168/coinbaseglobalincs-1.htm
2013 Quote from Gil on Bitcoin: https://www.streetinsider.com/Analyst+Comments/Bitcoin+Could+Be+Worth+10-100x+Current+Price+-+Analyst/8936836.html
Link to the Crypto News Recap:
https://unchainedpodcast.com/the-irs-clarifies-its-position-on-crypto-purchases/
Learn more about your ad choices. Visit megaphone.fm/adchoices
Available Results
Generated results are saved to your library for reuse and search.
Choose Template
Pick the result you want. You can review provider and model before generating.
A concise first-pass summary for understanding the episode quickly.
A comprehensive, source-grounded extraction of the reusable knowledge in an episode.
A comprehensive extraction focused on opportunities, strategy, markets, and company building.
Explicit actions, next steps, habits, recommendations, and things to avoid.
Repeatable methods, frameworks, mental models, processes, and systems.
A dedicated inventory of concrete resources named in the episode.
A concise first-pass summary for understanding the episode quickly.
A detailed readable summary organized by chapter or topic.
A navigable map of subjects, topic flow, and suggested chapters.
A comprehensive, source-grounded extraction of the reusable knowledge in an episode.
Reusable atomic knowledge units extracted from the episode.
A comprehensive extraction focused on health practices, protocols, claims, and safety caveats.
A comprehensive extraction focused on opportunities, strategy, markets, and company building.
Explicit actions, next steps, habits, recommendations, and things to avoid.
A dedicated inventory of concrete resources named in the episode.
A dedicated analysis of warnings, limitations, trade-offs, weak evidence, and uncertainty.
A concise first-pass summary for understanding the episode quickly.
A detailed readable summary organized by chapter or topic.
A navigable map of subjects, topic flow, and suggested chapters.
A comprehensive, source-grounded extraction of the reusable knowledge in an episode.
Reusable atomic knowledge units extracted from the episode.
A comprehensive extraction focused on health practices, protocols, claims, and safety caveats.
A comprehensive extraction focused on opportunities, strategy, markets, and company building.
Scientific findings, mechanisms, studies, hypotheses, and the limits of the evidence discussed.
Technologies, AI models, technical methods, capabilities, limitations, and adoption implications.
Investment theses, assets, catalysts, valuation reasoning, time horizons, and risks.
Chronologies, actors, causes, consequences, turning points, and competing historical interpretations.
Policies, proposals, stakeholders, arguments, implementation constraints, and predicted effects.
Career paths, skills, hiring signals, workplace decisions, transitions, and limitations of the advice.
Behavioral mechanisms, biases, motivation, habits, emotions, interventions, and evidence limitations.
Economic mechanisms, incentives, indicators, market structure, forecasts, and uncertainty.
Leadership principles, team systems, organizational design, culture, feedback, and failure modes.
Audience, positioning, messaging, acquisition, retention, experiments, metrics, and failed approaches.
Teaching methods, learning strategies, practice, feedback, assessment, and effectiveness evidence.
Theses, premises, arguments, objections, values, thought experiments, and unresolved questions.
Communication patterns, conflict, boundaries, expectations, repair methods, and contextual limitations.
Books, papers, authors, courses, and other learning resources mentioned in the episode.
Repeatable methods, frameworks, mental models, processes, and systems.
Explicit actions, next steps, habits, recommendations, and things to avoid.
Memorable statements and important claims with attribution and source context.
A dedicated inventory of concrete resources named in the episode.
A dedicated analysis of warnings, limitations, trade-offs, weak evidence, and uncertainty.