Coinbase was founded in 2012 and a leader in housing crypto currency accounts and crypto currency exchange. Crypto currency is created by using blockchain technology to create a form of currency that is not back by a country or a central bank. Block chain technology is being used as a currency and a whole host of other uses such as agriculture and digital art (NFTs).
Coinbase recently went public on April 14, 2021 and the IPO skyrocketed to $409 per share and a valuation of 47 billion dollars. The price per share has dropped dramatically, but still a force to be reckoned with. The value of Coinbase during its high note was in the Top 100 most valuable US companies. The current share price today is hovering close to $321 dollar per share.
Personally, I find that crypto currency is interesting and may have lots of value in the future, but I cannot find myself investing in it now. The crypto markets are highly volatile and could have wild swings and crashes at any moment. The slightly popular Doge Coin bounced from roughly 1 cent to 40 cents just from a tweet from Elon Musk. There are over 4000 different types of crypto currency and Coinbase is a way to keep and trade a lot of them. We will see what the future holds but for right now I’m going to wait and see on crypto and Coinbase.
Do you trade crypto currency? Do you think Coinbase is over/undervalued as a company?