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Blockchain technology is about to transform every trust-based interaction of our lives, from financial services to identity, from health care to our Internet of Things devices. In this podcast, host Laura Shin talks with industry pioneers across tech, financial services, health care, government and other sectors about how the blockchain and cryptocurrency will open up new opportunities for incumbents, startups and everyday people to interact more efficiently, directly and globally.

Apr 16, 2021

Gil Luria, director of research at D.A. Davidson, talks about Coinbase’s performance on its first day as a public company. In this episode, Gil discusses:

  • the significance of Coinbase going public (1:05)
  • why doing a direct listing was a risky move (1:31)
  • why he revised his price target for COIN from $440 to $650 (3:17)
  • how investing in COIN as a “pure play” crypto company compares to buying stock in companies like MicroStrategy and Square (5:06)
  • why some people are disrupting Coinbase’s actual market cap (7:11)
  • whether Coinbase can smooth out revenue over the long term and not be so correlated to the crypto markets themselves(10:45)
  • what sort of statistics Gil is looking for in valuing Coinbase (13:08)
  • why Gil thinks Coinbase can meet its goal of growing non-transaction revenue from 4% to 50% in five to ten years (15:32)
  • how Coinbase could navigate the compression of fees that will occur as competition increases among exchanges (17:33)
  • whether Coinbase’s stance as an apolitical company could affect the stock price in an era in which companies are getting involved in issues like voting rights (19:45)
  • whether the Bitcoin price and COIN stock price will always be highly correlated (21:18)
  • which other crypto companies are good candidates for going public as well (22:35)
  • weekly news recap (24:03)


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Gil Luria


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