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Compare it to Visa. $475B market cap. I mean it’s not really like any of these things, the comparisons are totally arbitrary.
by austenallred 5y ago
Compare it to Visa. $475B market cap.
I mean it’s not really like any of these things, the comparisons are totally arbitrary.
- rgifford 5y agoComps are a fundamental part of establishing fair valuation. Comparing Coinbase to the NYSE doesn't seem arbitrary to me. How likely do you think it is Coinbase becomes a household name like Visa, really? How many retailers process payments per day with Coinbase? How long did it take Visa to build its network? How consistent is Coinbase usership? I don't see Coinbase having a future in payment processing. Not unless cryptocurrencies become drastically more stable and energy efficient. Even then, you're hoping for the goodwill of the government not to implement serious restriction.
- austenallred 5y agoComps may be meaningful (usually mostly for market sizing and multiple) but these are all bad comps. Coinbase is just too unique.