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Does the price of BTC actually affect their business, though? I'm naive

• dragonwriter 4y ago
  Price directly probably not so much, but breadth of interest should, and I would expect that those two things are somewhat correlated.
• paxys 4y ago
  Random BTC fluctuations probably don't make too much of a difference, but as of their Q4 '21 report 86% of their trading volume is actually from outside Bitcoin. Those have all taken a massive hit in recent months, and I can't expect that is good news for Coinbase.
  • redisman 4y ago
    Bitcoin still drives the whole crypto market value. If Bitcoin went to $10 tomorrow, every other coin would be worth $0
    • paxys 4y ago
      Right now it's the other way around. Bitcoin has held its value pretty well while everything around it is crashing.
      • b112 4y ago
        Wouldn't the "other way around" be bitcoin at $0 and other coins at $10?
• bombcar 4y ago
  People are much less likely to buy and trade if the market is trending downwards, and they make their money on buying and trading.