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Gil Luria, director of research at D.A. Davidson, talks about Coinbase\u2019s performance on its first day as a public company. In this episode, Gil discusses:\n the significance of Coinbase going public (1:05)\n why doing a direct listing was a risky move (1:31)\n why he revised his price target for COIN from $440 to $650 (3:17)\n how investing in COIN as a \u201cpure play\u201d crypto company compares to buying stock in companies like MicroStrategy and Square (5:06)\n why some people are disrupting Coinbase\u2019s actual market cap (7:11)\n whether Coinbase can smooth out revenue over the long term and not be so correlated to the crypto markets themselves(10:45)\n what sort of statistics Gil is looking for in valuing Coinbase (13:08)\n why Gil thinks Coinbase can meet its goal of growing non-transaction revenue from 4% to 50% in five to ten years (15:32)\n how Coinbase could navigate the compression of fees that will occur as competition increases among exchanges (17:33)\n whether Coinbase\u2019s 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)\n whether the Bitcoin price and COIN stock price will always be highly correlated (21:18)\n which other crypto companies are good candidates for going public as well (22:35)\n weekly news recap (24:03)\n \xa0\n Thank you to our sponsors!\n Download the Crypto.com app and get $25 with the code \u201cLaura\u201d:\xa0\n https://crypto.onelink.me/J9Lg/unchainedcardearnfeb2021\xa0\n \xa0\n Check out InterPop, a superteam redefining the future of NFTs and fandom!\n https://hellointerpop.io/?utm_source=Unchained&utm_medium=episode-sponsorship&utm_campaign=interpop-launch&utm_content=interpop\xa0\n \xa0\n Episode links:\n \xa0\n Gil Luria\n Twitter profile: https://twitter.com/gilluria\xa0\xa0\n Introducing Crypto\u2019s Amazon Moment (written by Gil): https://unchainedpodcast.com/wp-content/uploads/2021/03/DA-Davidson-Coinbase-Initiation-20210302.pdf\xa0\n 2013 Quote from Gil on Bitcoin: https://www.streetinsider.com/Analyst+Comments/Bitcoin+Could+Be+Worth+10-100x+Current+Price+-+Analyst/8936836.html\n\n Previous Unchained Appearance: https://unchainedpodcast.com/is-coinbase-stock-a-good-buy-this-analyst-says-yes/\xa0\n \xa0\n Related Content\n Ellie Frost Blog:\n \n https://frostbyte.substack.com/p/coinbase-earnings-some-less-obvious\xa0\n https://frostbyte.substack.com/p/coinbase-earnings-will-blow-you-away\n \n Tweet Thread on Market Cap Discrepancy w/ Comment From Jeff Dorman\n https://twitter.com/laurashin/status/1382746574577668111\n https://twitter.com/jdorman81/status/1382749674105237507\n \n Forbes Coverage of Coinbase Direct Listing:\n \n https://www.forbes.com/sites/jonathanponciano/2021/04/14/coinbase-skyrockets-in-nasdaq-listing-landing-105-billion-valuation-on-first-day-of-trading/?sh=3afb44928dc1\xa0\n \n https://www.forbes.com/sites/jeffkauflin/2021/04/14/coinbases-ipo-creates-a-multibillion-dollar-windfall-for-founders-now-it-faces-five-big-threats/?sh=13405d8e61ff\xa0\n \n Brian Armstrong CNBC Interview on Transaction Fees:\n https://twitter.com/SquawkCNBC/status/1382279472599162880?s=20\n \n \nLearn more about your ad choices. Visit megaphone.fm/adchoices