Zach Light 🛡️
@ZachLight16
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$GOOG 2005-2023 $TSLA 2014-2021 $ETH since 2017 $COIN since 2022. Crypto and stocks investor. Retired early.
Joined July 2021
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Pinned Tweet
Bought another 3000 $COIN for ~35$. I now hold 10,000 $COIN at ~47$ average price. Will stop buying here as it meet my goals. The bull case for Coinbase is obvious as I highlight in the thread below.
The bullish case for Coinbase thread.
Disclaimer: I own 4000 $COIN stocks at an average price of ~59.5.
Coinbase is in deep value territory if you believe in the future of crypto. Here are some reasons why 1/
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Some ask me about my $COIN trading strategy. But there is no strategy. I have 10,000 $COIN at ~47$ from Dec 16 2022 (~470,000$ investment see pinned tweet) and I plan to cash out with at least 5M$ without trading. I have a strong conviction in the business like I had with $TSLA
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Coinbase was valued at 8B at the end of 2018(crypto winter). Bitcoin price was ~4000$ and $ETH ~100$. Crypto had very few applications back then. Coinbase now at ~10B MC with 2.7B net cash (cash - debt). So real valuation lower than 2018. $COIN an easy generational buy.
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I just spoke with a friend who is a big investment manager in NYC. it's the first time he has shown genuine interest in Ethereum. Before the $ETH ETF, regulatory barriers made it impossible for them to invest in $ETH. Ethereum has now entered the mainstream, but institutions are
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A few understand this in Wall Street but Coinbase is in much stronger position than it was on Nov 8 2021 when $COIN was traded ~350$ a share. Here are 5 key reasons:
1. Different revenue streams. Now above 50% of revenue is not from trading volume and is from key applications of
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Proof of reserves is bullshit. We don't know Binance liabilities and no audited balance sheet. They showed a very small amount of BTC / ETH so far. On the other hand, Coinbase 10-Q has all this information. Funds are 1:1 safe. I would use only Coinbase currently.
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Coinbase's 24hr trading volume is almost 10% of all Coinbase's trading volume Q3 2023. With this insane trading volume before $BTC 6 digits, $ETH 5 digits, alt season, dog/cat season, etc, I should adjust $COIN price target.
500$ $COIN target looks very bearish.
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TLDR: I've never been more Bullish on $ETH and I think $ETH 5 digits is inevitable.
Despite noise, Ethereum's future looks brighter than ever. Here is why (long post warning):
- There's a narrative that Ethereum is technologically behind, especially when compared to newer
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$COIN and $ETH bears are doomed. You thought US will lose to Singaproe or others in blockchain innovation because of Gary? think again. Coinbase will be the leading blockchain company in the world and Ethereum the leading blockchain. US will lead. God bless America.
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My position in $COIN has increased from 350K to 1.75M USD year-to-date from just holding.
This is despite that the huge growth I foresee in 2024 in Layer 2 Base, staking, and international derivative exchange is not priced in.
$COIN to 500$ in 2-3 years very possible.
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Wife just said Valentine's day vacation is expensive, she does not know that net worth is up 7 fig just from $COIN since Dec 2023. When I sell $COIN, $ETH, etc net worth will hopefully be up 8 fig
Never tell before you sell. Happy Valentine's Day to everyone except Dan Dolev.
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The short take on Coinbase vs. SEC:
-Judges may favor SEC on issues, imposing fines on Coinbase. However, they'll query the lack of regulatory clarity and ability to register, pushing SEC for solutions. It will be bullish for Coinbase.
-Big victory for Coinbase Wallet & DeFi.
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Coinbase Q1 numbers and valuation thread. Why 500$ $COIN is a FUD:
- At 35-50$ $COIN was a generantiaoal buy as I claimed here many times. Now at ~60B MC it is a cheap stock but Wall Street does not know this yet.
- I estimate 1.4B-1.65B revenue for Q1 with 950-1.1B trading
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Coinbase was valued ~8B in the end of 2018 ($ETH price 100-200$). This was way before $USDC , Coinbase prime, staking, and many other key products. Then it was valued ~60B in June 2021 when $ETH price was ~2000$. This was with many competitiors around. Competition is dead with
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@brian_armstrong
@SenWarren
@SECGov
Obvious but needs to said. Warren has no idea what she is talking about in crypto (and in general). Sad that this is our politicans
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Many think there is no main character this cycle but there is. It is called Coinbase.
- Fighting hard for all the crypto space in DC
- Going to court with the SEC at huge costs for the space when Kraken and others gave up.
- Shipping incredible products like Base L2, int.
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$ETH is starting to look as one of the best assets to hold. Very few understand that high L1 fees on Ethereum are becoming a feature, not a bug. They ensure top security & 'ultrasound' monetary policy, as stakers grow their market share in the Ethereum network. The flexibility of
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I am bullish on $ETH and its future. Ethereum is somewhat misunderstood in the crypto community. Here's why:
-Contrary to what some proponents of $SOL and $AVAX suggest, Ethereum is not lagging in technology.
Ethereum has strategically chosen Layer 2 (L2) solutions for
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China and Jump are dumping $ETH on us. We have seen many times what happens after big dumps like that. Up strongly.
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No one is bullish enough $COIN.
Bitcoin ETF approved. Coinbase main custodian.
Retail trading volume up huge, staking revenues. sequencer fees, int derivative market, venture portfolio, wallet, WaaS, Coinbase cloud, payments, $USDC and we are just beginning.
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EIP-4844 finalized. Bullish for $ETH, bullish for
@base
, bullish for $USDC (Base - $USDC can now compete with TRON - $USDT). Bullish for the Ethereum ecosystem. Bullish for Coinbase.
This is only the beginning for blockchain tech.
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The real bull market starts when $ETH / $BTC bottoms which happened probably last week. Many are still severely under allocated $ETH and $COIN here..
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Coinbase VERY strong Q1 results. Earnings are at the top range of my estimates below (~1.6B revenues, 1.075 transaction revenue, ~1B adj. EBITDA).
This means that 500$ $COIN is a pure FUD as I outline below.
I will provide more thoughts on the earnings after the call.
Coinbase Q1 numbers and valuation thread. Why 500$ $COIN is a FUD:
- At 35-50$ $COIN was a generantiaoal buy as I claimed here many times. Now at ~60B MC it is a cheap stock but Wall Street does not know this yet.
- I estimate 1.4B-1.65B revenue for Q1 with 950-1.1B trading
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$OHM now owns 25,000+ $ETH after Liquidity pools $LUSD liquidations. Essentially $OHM bought the forced selling dip with a discount. $OHM owns ~10K more $ETH in liquidity pools.
Assuming ~105K $gOHM total supply every $gOHM is backed ~1/3 $ETH, ~1520 $DAI, 550$ $FRAX + other
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At 2021 profits, Coinbase's P/E is now ~16.
Coinbase has now much less competition, much more revenue generating products, Base season upcoming, derivative trading increasing fast, many more retail token listed.
Choose wisely. $COIN
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What if $ETH and $BTC will be back to 3000$+ and 60000$+ soon after Iran attack and Coinbase just made tons of $$ from trading after an amazing Q1 + Q2 and before rate cuts. Now $COIN trading at a serious discount given Q2 results. Looks bullish
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Yeah, $COIN is up ~5.5X since my pinned tweet buy, but it’s still a VERY strong buy now. So much has changed since 2022. Here are the 5 main things imo:
1. Competition’s basically dead—FTX gone, Binance seriously struggling, Kraken/Gemini losing ground.
2. Coinbase built solidly
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Ethereum is in a very strong position now.
- Major selling by bankrupt players mostly over after 2 years of pressure.
- $ETH will be regulated as a commodity and ETF is a matter of time. Institutions are severely underexposed. Structural buying incoming.
- EIP-4844 on the way.
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Up ~1.5M and it is only the middle. 500$ $COIN is my bearish target.
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$BTC almost ATH. $COIN still far away even that
-Dog coins volume ~1.5B 24hr more than 2021 peak
-S&S revenues gonna skyrocket in Q1
-Volumes and prices are gonna be way higher if this cycle resembles last cycles
-Base L2, int. exchange gainning traction
$COIN still undervalued
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Last chance to grab some $COIN before the Street understads in a few days the new math behind Coinbase earnings numbers.
Imagine the rally if $ETH and $BTC are also close to local bottoming as I expect.
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This $COIN valuation will be remembered as one of the biggest generational buys of this decade imo. Amazing that many comments were actualy negative on Coinbase back then despite the ridiculous valuation.
Coinbase was valued at 8B at the end of 2018(crypto winter). Bitcoin price was ~4000$ and $ETH ~100$. Crypto had very few applications back then. Coinbase now at ~10B MC with 2.7B net cash (cash - debt). So real valuation lower than 2018. $COIN an easy generational buy.
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If you held $COIN you didn't miss $SHIB , $DOGE , $BONK, etc pump. Trading volume ~10B 24hr (Q3 23 TOTAL 75B)! Coinbase's coustody fees, staking, even interest income will be way up for Q1.
Wall Street gonna have a big surprise. $COIN 500$ starting to look realistic for 2024
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A few comments on Coinbase's earnings numbers.
$COIN had STRONG Q1 results, as many have discussed.
- Let's unpack how how Wall Street sees these numbers.
- Subscription and Services (S&S) revenue hit $511 million, while expenses, excluding stock-based compensation and
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Coinbase's revenue:
2017: 1B, 2018: 520M, 2019: 533M
2020: 1.28B, 2021: 7.7B, 2022: 3.1B
2023: (close to 3B estimated).
So last bear market 500M revenue turned to 3B this bear. 6x.
The company trades at P/S ~6 in a bear.
Imagine the possible valuation next bull market
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$COIN strong earnings.Numbers are similar to tweet below (revenue slightly above 950M).Strong guidance for Q1 while expenses remain flat. Huge numbers and this is before the impact of Coinbase's new product (figure below). I will discuss other features after the call
Some numbers to understand why I thnik $COIN is going to have a big year.
-For Q4, I estimate 900-950M revenues and operating expenses without SBC ~600M.
-This is before major revenues from new promising products and an upcoming bull market.
-Valuation of less than 30B looks
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Imgaine not being long $COIN here.
- Coinbase is profitable and trailing 3 months trading volume up big compared to Q1, Q2, and Q3 2023.
- $USDC market cap stabilizing.
- Crypto regulation looks more favorable than ever after Bitcoin ETF approved.
- Staking and custdoy revenues
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My take on Coinbase earnings Q3 2023 after looking on the shareholders letter and earnings call. It was another strong quarter for Coinbase despite the bad market. First, the financial numbers are very similar to Q2 (see my thread below) so I won't provide all the details.
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Many ask me what is my target for $COIN and if I took profits.
My bearish target is 500$ $COIN so I DIDN'T take any profits (target looks somewhat outdated now).
It does NOT matter that my 10K $COIN stocks position is now worth more than 2.3M USD (pinned tweet).
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I wasn't bullish enough on
@base
. Coinbase's smart wallets and account abstraction gonna move huge amount of retail onchain. $USDC will gain from it too.
Onchain activity is extremely cheap after EIP-4844.
This is in addition to skyrocketting volumes.
Plan accordingly. $COIN
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$COIN is holding strong compared to other growth stocks that are dumping big oday. The problem for $COIN bears is that ~$2.5 billion in positive adjusted EBITDA this year for Coinbase is a conservatie estimate. Even at $250 per share, it’s hard to argue that the stock is
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$COIN 69% gain in Q1 2024. Given crypto meme-driven dynamics, Coinbase's stellar Q1, $COIN $690 target looks programmed.
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Almost 2 years since my first $COIN purchase!
Overall I accumlated 10,000 $COIN (see pinned) and didn't sell even 1 share. Saw many downturns but as I said here: below 500$ $COIN is a huge FUD.
Coinbase's earnings tomorrow will make it clearer.
Bought 1000 $COIN at ~52.5$.
Market cap ~12B with 6B shareholders' equity.
Plan to hold this one a long time
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"Coinbase is only for trading" is the new "NVIDIA is only for gaming" in Wall Street. NVIDIA provides the infrastructure for AI. Coinbase provides the infrastructure for blockchain tech. The two most important tech in the upcoming decade.
$NVDA MC 3B $COIN MC 55B. Invest wisely
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Still hard to digest how bullish the last few weeks were for $COIN and $ETH and the blockchain space.
- The first $ETH ETF approval signals massive Wall Street inflows & a deep dive into the Ethereum ecosystem by the Street. Ethereum will be the backbone and oil of the new
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If you are long blockchain tech / crypto or want exposure to this space you have only one strong investment option: $COIN. Wall Street still don't digest this: Coinbase will benefit from ANY positive development in the space: meme coins pumping ( $BONK and $SHIB trading volume),
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Bitcoin maxis hate this ofc but the guy has a point.
Imo $COIN and $ETH are the main assets to hold long-term for the upcoming blockchain economy:
- Bitcoin's 21 million supply cap will become a serious security concern.
- Bitcoin is the ultimate memecoin with narratives such
"When will the Fed put Bitcoin on its balance sheet?
You already said on record that you have an unlimited supply of dollars, doesn’t it make sense to trade some of them for a currency with a hard cap?"
Incredible clip
Kashkari's answer will be studied by future historians
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Ethereum is the top blockchain by FAR for major dapps/serious money with a bright future. Why $ETH underperforms lately? Rumors that the SEC might label it a security soon, not because it's uncool as some degens in CT claim. Regulatory uncertainty is at its peak. God candle for
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I see a very strong $COIN rebound.
$BTC already 60000+ $ETH following strongly.
$USDC MC up. Trading volume up. Base still very new and becoming the main L2 (Arb still leads in trading).
Adj. EBITDA on pace for 3B positive. Cash position is strongest ever. Pump is inevitable
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Timeline discusses inflows and outflows to $ETH ETF and recent PA. Ethereum is one of the most innovative assets of the last decade, with a superior monetary policy compared to any other, already supports 100B+ digital dollars, digital ownership, DeFi,
Layer system L2s that is
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Some Sundy thoughts:
Each crypto cycle, there is an L1 that significantly outperforms $BTC and $ETH. $XRP in 2017 and $BNB in 2021 are prime examples. Both were marketed as the future of payments ($XRP) or Ethereum killers such as $BNB and others. This cycle, it is Solana's
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As I said here many times since mid 2022 Coinbase was severely undervaled by Wall Street (only 8B MC at some point!!).
The street can't ignore the numbers anymore.
Operating cash flow 300M positive Q423. It looks much higher for 2024. 50B MC for $COIN is just the first stop
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$META. Amazing ride from two digits to 480$ in 5 quarters. I think it is a great day to take profits. I sold all my position today.
Wall Street shows again the lack of understanding it has in tech stocks.
$COIN severely undervalued will be clear to many soon.
Did you buy $META at two digits anon? A company at 270B market cap and ~120B sales with very low costs for revenue? Or you are too afraid that they invest a lot in R&D like Wall Street investors that don't have any clue in tech?
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Coinbase trading volume surges and it is driven by retail led tokens such as $SOL, $SHIB, $LINK, and today
$BIGTIME. This will boost Coinbase's revenue so Wall Street likes it as evidenced by the $COIN pump to $140. Imagine what will happen when the Street understands that
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Re earnings: This post is tailored for the hardcore $COIN holders There were five major topics that dominated the discourse around Coinbase during 2023, and in my opinion, the company navigated these challenges and opportunities in an incredible way. I will briefly delve into
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At this stage, regardless of whether you are skeptical of crypto or a bommer investor, $COIN represents a compelling BUY. Three key points:
-Valuation: Coinbase's adjusted EBITDA stands at $1 billion in Q1, and current MC of $55B. This is very undervalued compared to other
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This is only the FIRST crypto cycle for Wall Street in evaluating Coinbase. At 8B MC they basically traded as if $COIN goes to 0. Now that the Street is starting to realize that crypto is going way up in prices, utilities, usage, etc the pump is going fast and big .
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Bullish at this point:
- $ETH ETF decline is now fully priced in.
- With Russia war in Ukraine, China / Taiwan issues, and Gaza / Israel / Iran war, elections between crazy Trump and rapidly declining Biden will cause major chaos (with the help of Iran/Russia), as we already see
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The bullish case for Coinbase thread.
Disclaimer: I own 4000 $COIN stocks at an average price of ~59.5.
Coinbase is in deep value territory if you believe in the future of crypto. Here are some reasons why 1/
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Great post by
@brian_armstrong
. Imagine dumping your $COIN because $BTC down a few % when
-Blockchain tech enters utilities stage,
-Coinbase trading volume's looks like 2021 and more
-Int. derivative record volume
-Base DAUs skyrocketing
- $USDC > 30B MC again
- Smart wallets
For 5+ years, the industry's been hard at work building the infrastructure to update the financial system.
Today, the use cases for crypto are no longer future promises. They're already here.
→
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gm. Mizuho's senior "fintech analyst" Dan Dolev past recommendations regarding Coinbase. Hold $COIN from 350$ to 35$. Sell at 35$.
Imagine being still employed by Mizuho... disparaging for all
@MizuhoAmericas
consumers.
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Some numbers to understand why I thnik $COIN is going to have a big year.
-For Q4, I estimate 900-950M revenues and operating expenses without SBC ~600M.
-This is before major revenues from new promising products and an upcoming bull market.
-Valuation of less than 30B looks
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Viewing $ETH chart, $3500 looks as a strong resistance, correction to $2800-$3000 likely. But it is crypto. In Dec 2020, selling half my $BTC massive longs at the then-ATH of $19,000 made me miss the surge to $40K. This cycle I'm holding my main long position $ETH, to 5 digits.
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Coinbase Earnings This Week!
I've been providing my estimates for the past two years, and here are my estimates + thoughts for this week earnings (see also amazing sources like
@cbduck
for last few quarters).
-Revenue Estimate: I estimate Coinbase will report total revenue of
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gm
It is expected that we are going to see strong earnings and guidance today from Coinbase. Just one data point: we have ~35 tokens now with 10M+ trading volume past 24 hours for Coinbase. This is insane even comparable to 2021. It is going to be an epic bull for $COIN.
Some
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Very techincal chart in $COIN right now. Very little support from $180 to strong support range 110-132$ together with tax sell-off and Cathie (and others) rebalancing by selling $COIN and buying shit stocks. I see this price action as a needed correction before the next leg up.
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This is an incredible setup for $ETH after the first big up only move of this cycle (~2200$ to ~4100$). ~50% correction and up only possible especially that Ethereum is now being dunked on in CT
Study August-September 2020.
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If you want to add some $COIN I think this Iran dump to ~53B valuation is a good opportunity given the numbers below. April so far looks strong so a bad guidance isn't a concern. The Street will have to reevaluate UP $COIN after the earnings unless $BTC dumps back to 30-40K.
Coinbase Q1 numbers and valuation thread. Why 500$ $COIN is a FUD:
- At 35-50$ $COIN was a generantiaoal buy as I claimed here many times. Now at ~60B MC it is a cheap stock but Wall Street does not know this yet.
- I estimate 1.4B-1.65B revenue for Q1 with 950-1.1B trading
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$COIN 10% down tax sell off today will be remebered as a buying opportunity very soon imo.
Coinbase adj. EBITDA for 2023 until Q3 was positive ~659M and Q4 will be much better. This was during the lowest crypto market volatility since 2016 and while shipping amazing new and
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"God candle for $ETH given good news next is also possible imo." God candle incoming. Many don't understand how much institutions are under-exposed to $ETH because of regulatory uncertainty. $ETH ETF is MUCH bigger deal than the $BTC one in terms of inflows.
Ethereum is the top blockchain by FAR for major dapps/serious money with a bright future. Why $ETH underperforms lately? Rumors that the SEC might label it a security soon, not because it's uncool as some degens in CT claim. Regulatory uncertainty is at its peak. God candle for
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VERY strong Q2 for Coinbase. $COIN beat my estimates ~780M Transcation revenue were I estimate ~700. ~600M S&S were I estimate 550-600.
A lot of important discussion on topics I raised below, regulation clarity, new products, etc. I will post more details later.
Coinbase Earnings This Week!
I've been providing my estimates for the past two years, and here are my estimates + thoughts for this week earnings (see also amazing sources like
@cbduck
for last few quarters).
-Revenue Estimate: I estimate Coinbase will report total revenue of
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I wrote 1000s of posts regarding $COIN but the one below exactly 2 months ago is most crucial for next year (Only 71$ $COIN back then). Coinbase is in a strong poisition for the upcoming bull market. Happy holidays all. Many of my followers made a lot of money this year and I am
A few understand this in Wall Street but Coinbase is in much stronger position than it was on Nov 8 2021 when $COIN was traded ~350$ a share. Here are 5 key reasons:
1. Different revenue streams. Now above 50% of revenue is not from trading volume and is from key applications of
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Imagine posting this near the generational bottom for $COIN at possibly the most ridiculous low valuation Wall Street has ever seen, only to get dunked on by almost all the comments.
Coinbase was valued at 8B at the end of 2018(crypto winter). Bitcoin price was ~4000$ and $ETH ~100$. Crypto had very few applications back then. Coinbase now at ~10B MC with 2.7B net cash (cash - debt). So real valuation lower than 2018. $COIN an easy generational buy.
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$ETH dumping just because traders know that Mt. Gox Bitcoin dump is coming + $ETH is historically very correlated with $BTC (it will change in the future). I see a major $ETH rally after Gox dump + $ETH ETF is officaly in.
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Coinbase is very robust to high interest rates for longer periods (possible given today's CPI).
-Coinbase's income from interest, including from $USDC is significant.
-People investing in crypto are looking for big returns, so they won't switch to 4-5% bonds.
-High rates mainly
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You thought 2021 was crazy anon? 2024-2025 can be crazier
- $BTC and $ETH not even at ATH and 3 dog coins $DOGE, $BONK, $SHIB trading volume together more than 240M !! at Coinbase last 24hr. MTUs is going to the roof.
- Election between unstable won't accept any lose Trump to
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Coinbase earnings thread. TLDR: an incredible Q1 for Coinbase - Adj. Ebitda 286M POSITVE is an incredible number during a long bear market. Coinbase beat my estimates (and of others). Here are my thoughts after looking at data+earnings call. 1/
The things that I will look at Coinbase's earnings today a thread. Hint IT'S not revenues/income but $COIN earnings today is about US regulatory pressure, international expansion, $USDC problems. 1/
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Trade update: $COIN still in the support range since Jan 12 (see below). Chart may be forming a double bottom here so it looks like a good entrance point for bulls.
Disclosure: I still hold 10,000 $COIN and didn't made any changes since December 2022 (pinned tweet).
Still true. $COIN is in the support range since this tweet 2 weeks ago trading very technical. This is despite $ETH and $BTC dropping big. Sellers starting to look weak, tax sell-off and rebalancing are over, strong earnings around the corner. Next leg up is brewing.
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Coinbase's victory in the wallet case is a significant achievement. However, when it comes to staking, the SEC has unfortunately managed to sow confusion in the courts. Many tech companies, from Salesforce to Google Ads with their campaign management features, offer services that
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Big volatility means big gains for Coinbase. $COIN had positive adj. EBITDA in the worst volatility environment since 2015. Coinbase is going to have a very big year, especally as we see many retail driven coins trading with high volume this cycle.
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Gary understood that Warren is a losing card. Biden understood that Democrats better approve $ETH ETF for elections. Approval means $ETH god candle that we never saw in history
Update:
@JSeyff
and I are increasing our odds of spot Ether ETF approval to 75% (up from 25%), hearing chatter this afternoon that SEC could be doing a 180 on this (increasingly political issue), so now everyone scrambling (like us everyone else assumed they'd be denied). See
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People ask why $ETH outpreforms despite deflation. Well $ETH had HUGE structural selling from so many liquidations of major firms in the last 20 months that had to dump $ETH. This is almost over and Ethereum fundamentals have improved significantly. Pump is coming soon imo.
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Coinbase's Trading volume keeping going up.
~half of the trading volume is not $BTC, $ETH, $USDT in the last few days. Meaning retail is back after absence from Q1 2022.
$COIN 3 digit is incoming imo
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Coinbase adj. EBITDA for 2023 (Q1+Q2+Q3) is positive 659M during the lowest crypto market volatility since 2016. Q4 looks much better with trading volume going up. Short interest still high (~13%).
When Wall Street understands their valuation mistake the pump will be massive.
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At this point it is hard not to be bullish on Ethereum.
- L2's becoming massive ( $ARB / $OP , and soon Base).
-CFTC declares it IS a commodity.
-Best monetary policy of any token by far.
-Best short-term and long-term security design.
-dApps continue to massively grow.
$ETH
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Wall Street requires a 3% $BTC to move $COIN by 3%, with a $50 billion MC, even after posting $1 billion adj. EBITDA in Q1. In contrast, consider $UBER with a $1.4 billion Q1 adj. EBITDA and $135 billion MC despite issues in its adj. EBITDA from "separate changes and settlements
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Recent weeks have been incredible for $COIN investors with $BTC and $ETH's high volatility, daily shitcoin pumps/dumps, rising $USDC market cap, Coinbase's strategic moves in bear, including L2 Base and Derivative Exchanges looking good, venture portfolio surges.
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Study Gary. To advance in DC rejecting $ETH ETF is a big mistake after recent support across politicians.
Coinbase deserves most of the credit for impacting DC and evetually the SEC. Many in CT won't admit this.
Bitcoin ETF is coming. Gary isn't against crypto but a self-centered guy that wanted to advance in DC by pleasing crazy Warren. Gary now understands that Warren is a losing card and rejecting Bitcoin ETF applications would cause him trouble.
$ETH ETF is coming too after.
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As opposed to some views in CT, Bitcoin ETF is very bullish for Coinbase. Coinbase is listed as a custodian and in charge of trading execution for some of the major ETFs (e.g., BlackRock). This means that trading revenues will be essentially split between BlackRock and Coinbase
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A few understood the impact of structural $ETH buying instead of structural $ETH selling in Jan 30.
- ETF still to come
- Meme narrative now changing to utility narrative
- L2s exploding in usuage
$ETH to 5 digits looks programmed at this point
Ethereum is in a very strong position now.
- Major selling by bankrupt players mostly over after 2 years of pressure.
- $ETH will be regulated as a commodity and ETF is a matter of time. Institutions are severely underexposed. Structural buying incoming.
- EIP-4844 on the way.
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Lots of chatter about custody fees, but the real win for Coinbase with the Bitcoin ETF is HUGE reputation boost on Wall Street and in DC. This will have serious implications. Coinbase is playing the long game but $COIN price reflects only recent trading volume.
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gm.
Already ~40% gain from the post below. FTX, Celsius, 3AC, and other bankrupt entities dumped huge amounts of $ETH over the past 2 years. This month offers a glimpse into the impact of positive institutional inflows to $ETH.We are going to see a continued explosive rally imo
Ethereum is in a very strong position now.
- Major selling by bankrupt players mostly over after 2 years of pressure.
- $ETH will be regulated as a commodity and ETF is a matter of time. Institutions are severely underexposed. Structural buying incoming.
- EIP-4844 on the way.
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@cburniske
@solana
Bought 1000 $SOL at 10$. A very small amount compared to my $ETH bag but it is my first (non $ETH) alt for this season. I was very skeptical of Solana and actually shorted it before but I really like the reaction of the community to recent events.
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Trade update: It was indeed a good entrance point for bulls. Double bottom confirmed and $COIN broke the support up.
$BTC and $ETH going up and $USDC market cap recovering fast.
It is going to be a big week with earnings next week.
Trade update: $COIN still in the support range since Jan 12 (see below). Chart may be forming a double bottom here so it looks like a good entrance point for bulls.
Disclosure: I still hold 10,000 $COIN and didn't made any changes since December 2022 (pinned tweet).
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Cathie sold ~5.5 million $COIN shares over the past year to invest in shit stocks. She's finally offloading $ZOOM. $QQQ has always been a much better choice. It's disappointing to see $ARKK performing so poorly, despite $COIN's 7X since this post.
BTW, $ZOOM looks better valued
@CathieDWood
But Cathie there is much more innovation in $MSFT, $GOOG and $META (leading in AI / Microsoft big investor in openAI, etc) than Zoom / Roku. Actually teams is doing pretty well and it is not even considered an innovative product in Microsoft. Why such a big holding in $ZOOM?
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GM. Update: $ETH touched the 50% correction last night trading ~3100$ (down ~1000$ from 4100$) and is pumping back. Setup looks even better than yesterday. In addition, we are seeing tons of volatility.
$COIN Q1 results gonna be massive.
This is an incredible setup for $ETH after the first big up only move of this cycle (~2200$ to ~4100$). ~50% correction and up only possible especially that Ethereum is now being dunked on in CT
Study August-September 2020.
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gm. It's December 2022, Dan Dolev spreads false news on Coinbase, "Smart money" has ~40M $COIN stock short at 35$. Now Coinbase is still undervaled at 280$ imo. Strong conviction is key if you want to hold your asset all the way up.
Why Dan Dolev always spread false information to oppress Coinbase stock price? Well many in Wall Street are short now and analysts typically controlled by hedge funds. We saw a very similar situation with Tesla for many years. 3/
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