We've mentioned that the writer of this piece, Tiernan Ray, is one of the best in the technology space. When he was running Barron's Tech Trader and Tech Trader Daily he exhibited an almost unreal ability to get NVIDIA's Jensen Huang to open up about seemingly obscure but ultimately very profitable minutae re: the chip biz.
From ZD Net:, April 7:
Coinbase offered a wide range of possibiities this year, citing market uncertainty.
Coinbase, the eight-year-old, privately held, San Francisco-based startup that is a trading platform for Bitcoin and other crypto-currencies, Tuesday evening announced its financial results for 2021, and said it foresees a wide range of scenarios for the market this year, including a sharp drop in price.
Bitcoin's price has soared the past six months from $10,600 to over $57,000 U.S. dollars per Bitcoin, as companies such as Tesla, PayPal, and Square have emphasized buying reserves of the currency and making it possible for customers to transact in the currency.
Coinbase, which makes money off the volume of people transacting on its platform to buy and sell currencies, had 6.1 million transacting users, or MTUs, in the three months ended in March, it said.
To forecast this year, "Given the inherent unpredictability of our business […] we are providing a range of possible scenarios for full-year 2021," the company said.
The "high" scenario sees the overall market capitalization of crypto continuing to increase, pushing up Coinbase's MTUs to 7 million....
....MUCH MORE
A bit o'bitcoin just traded hands at $60,166.79
I can't tell if Coinbase thinks this is a plausible scenario or if it is just CYA.
