Coinbase would have earned $2B just buying Bitcoin with its seed money
The largest cryptocurrency’s 200% CAGR presents a serious challenge to even the most successful crypto business strategies. The United States’ biggest crypto exchange would have made more money by simply buying and holding Bitcoin (BTC) in 2013. Data circulating on social media reveals that despite Coinbase’s $800-million profits in Q1, the company would still be richer had it used its seed funding cash to buy BTC.Coinbase profits lose out to 2013 hodlersAhead of its initial public offering on April 14, Coinbase reported bumper revenue this week. At $1.8 billion, Q1 outperformed the....
Related News
Data shows the Bitcoin Coinbase Premium Index has declined towards neutral values recently, implying buying pressure may be running out. Bitcoin Coinbase Premium Index Has Gone Down Recently An analyst in a CryptoQuant Quicktake post explained that the Coinbase Premium Index has been decreasing recently. The “Coinbase Premium Index” here refers to the percentage difference […]
Timothy Draper, co-founder of VC firm DFJ, is putting more money into the Bitcoin ecosystem, reportedly. Coming across the wire today by way of Re/code is news that Coinbase Series C funding is being raised right now. According to sources close to the deal, Coinbase is expected to take in between $40 million and $60 million USD in fresh new capital. The new round is expected to be led by DFJ. Coinbase has previously raised $31 million USD in funding over the last few years. Since Coinbase's inception in 2012, the company has received recognition both from within and from outside the....
Digital currency exchange and wallet provider Coinbase has extended bitcoin and ether buying to customers in Canada and Singapore, within days after announcing the same feature to Australian users. Firmly in its global expansion phase, bitcoin and ether exchange and wallet Coinbase has now enabled its bitcoin and ether buying feature to customers in Canada and Singapore. Users in the two countries will be able to purchase the cryptocurrencies instantly with their debit and credit cards. Canadian users will be restricted to buying bitcoin and ether while not being to sell them just yet,....
Data shows the Bitcoin Coinbase premium gap has surged up to positive values, suggesting that buying from investors on the exchange could be behind the pump to $22k. Bitcoin Coinbase Premium Gap Observes Sharp Rise To Positive Values As pointed out by an analyst in a CryptoQuant post, after many months of negative values, the Coinbase premium gap is now above zero. The “Coinbase premium gap” is an indicator that measures the difference between the Bitcoin price on Coinbase Pro (USD pair) and the value on Binance (USDT pair). Since Coinbase is popularly used by US investors....
Bitcoin company Coinbase has announced that Coinbase customers will have their fees waived when buying and selling Bitcoin with Euros until the end of this week. The announcement comes in light of the Greece crisis which has banks shut down and ATM withdrawals limited to 60 Euros per day in order to avert a banking collapse. In an official blog post, Coinbase stated: "We feel that all Europeans should educate themselves on the benefit of using a global currency that is not controlled by any particular country or company. As part of our effort to make it easy for anyone to buy and sell....