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Ram Ahluwalia, CFA, Founder of
PeerIQ and careful observer of the Fintech, Crypto, markets, and startups space, has posed what he claims to be “a $100 billion question” for Coinbase.
So here’s the $100 Bn question for Coinbase…If digital currency ETFs are inevitable, consumers will buy BTC in their brokerage accounts. Convenience wins. Doesn’t that kill @coinbase core transaction revenue stream?
A thread…
Ram argues that if virtual currency (exchange-traded-funds) ETFs are inevitable, then consumers will purchase Bitcoin (BTC) in their brokerage accounts. He also thinks “convenience wins” and questions whether this will “kill” Coinbase’s core transaction revenue stream.
Demiros’ sentiment was shared by most of the crypto industry. From early Coinbase investors like Garry Tan, his initial $300,000 investment in 2013 made a 6000x profit, to Paradigm’s Omar Bohsali, legendary rap singer Nasir Jones and others.
Grayscale CEO Michael Sonnenshein said Coinbase’s debut has signaled a new level of maturity for the crypto industry.
$COIN is really signaling to the market as a whole a certain level of maturity, a certain way of doing things the right way, @Grayscale CEO @Sonnenshein says, adding: Crypto is not an investment that s appropriate for every investor. https://t.co/Jb7k9tf4PHpic.twitter.com/xPLJjTv1JP