Raoul Pal, a macro-guru believes the US-based crypto company’s shares may explode in this current bull market cycle.
The former Goldman Sachs executive claims that Coinbase stock could soar by 10 times in a YouTube video.
I think the entire space, in this bull market will be somewhere between $10 and $15 trillion. How much does Coinbase cost in this scenario? It wouldn’t surprise me at all if Coinbase were worth $500 billion. The price is insane, given the current market size.
If the [total cryptocurrency market cap] increases by 5x then this will probably increase by 10x. This doesn’t seem stupid. It’s an amazing trade. Coinbase can be a great option for people who don’t wish to deal in cryptocurrencies. .”
Coinbase’s stock traded for $324 on Monday at the close of business, an increase of more than 19% within 24 hours. Current market capitalization is $81.17 billion.
Pal thinks that Donald Trump’s election as US President and the victories of crypto-friendly candidates in the US Congress will help Coinbase have a successful future.
Coinbase poured tens and millions of dollars in the crypto super PAC Fairshake. This political action committee supports candidates that support digital assets.
Faryar Shirzad, the chief policy officer at Coinbase, recently hailed the results of the elections as an industry win.
Coinbase is embroiled in a court battle with the U.S. Securities and Exchange Commission, which alleges that it has engaged in unregistered securities sales.
Says Pal
“I thought that Coinbase won because of their super PAC and Elon [Musk].” You could just as easily sell all your other stocks and buy Tesla and Coinbase.
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Sources of Images include Pixabay Creative Commons & Midjourney
Raoul Pal, a former Goldman Sachs executive says that this is one ‘hell of a trade’. The article may change as new information becomes available.
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