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Coinbase yahoo finance11/24/2023 ![]() With this context in mind, here is our list of 10 best crypto, bitcoin stocks to buy instead of the overvalued Coinbase. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox. That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to. We have been tracking and sharing the list of these stocks since February 2017 and they lost 13% through November 16th. We were also able to identify in advance a select group of hedge fund holdings that significantly underperformed the market. Our stock picks outperformed the market by more than 124 percentage points (see the details here). Between March 2017 and February 26th 2021 our monthly newsletter’s stock picks returned 197.2%, vs. On the other hand, Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 124 percentage points since March 2017. Its reputation has been tarnished in the last decade, during which its hedged returns couldn’t keep up with the unhedged returns of the market indices. The entire hedge fund industry is feeling the reverberations of the changing financial landscape. The higher valuation of Coinbase seems a little confusing in this context. These banks have trillions of dollars worth of assets under their care and have years of experience of how to turn them into profits. ![]() Coinbase, on the day it went public, was valued near the market cap of investment bank HSBC Holdings plc (NYSE: HSBC ) and larger than other traditional names in the banking industry like UBS Group AG (NYSE: UBS ) and Banco Santander, S.A. The numbers would seem to back this opinion. Peter Cohan, an American businessmen and financial expert, has termed the firm not worth the price. ![]() Coinbase was valued at over $85 billion when it listed, a capitalization that stock experts believe is overvalued. However, there is reason to exercise extreme caution as reckless finance advisors bully investors into betting on crypto. News media has described the public listing of Coinbase as a watershed moment for the crypto industry that will usher in the crypto gold rush and make the new technology mainstream. It has so far hosted transactions worth more than $335 billion from more than a hundred countries. On the back of increasing trade, the firm generated more than $1 billion in annual revenue last year, up more than 135% compared to the preceding year as the pandemic boosted cryptocurrency-linked platforms. The platform has more than 56 million users internationally out of which more than 6 million use the exchange every month. The company was founded by Armstrong in 2012 and is one of the largest crypto exchange platforms globally and facilitates the buying, selling, and storage of digital currencies, including giants like bitcoin and ethereum. Coinbase CEO Brian Armstrong became one of the richest men in the world after the listing, with some 40 million shares he owns in the firm equating to almost $16 billion in value. (NASDAQ: COIN ) went public on April 15 with a market capitalization of $86 billion. San Francisco-based cryptocurrency exchange platform Coinbase Global, Inc. ![]() ![]() You can skip our comprehensive analysis of the crypto industry and go directly to the 5 Best Crypto, Bitcoin Stocks to Buy Instead of Overvalued Coinbase. In this article we will take a look at the 10 best crypto, bitcoin stocks to buy instead of overvalued Coinbase. ![]()
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