Coinbase is one of the best crypto stocks to hold for long term growth investors. However, the current crypto industry is struggling and most cryptocurrencies have crashed from their November 2021 highs.
Where Will Coinbase Stock Be in 5 Years?
Crypto trades in cycles and it’s possible that 2027 will be the beginning of another crypto bull market as Bitcoin heads towards its 5th halving in 2028.
COIN stock correlates positively with Bitcoin prices so Bitcoin’s price performance will dictate how Coinbase performs as a company.
Coinbase generates over 90% of its revenues through trading fees but is attempting to diversify its revenue streams with NFTs, a recurring monthly subscription called Coinbase One, and other blockchain related products.
My guess is that COIN stock will be around $2,000 per share assuming the company doesn’t split its shares. Nowadays, most big tech companies perform stock splits to keep the share price down and make it easy for option traders.
Coinbase Leads the American Crypto Industry
Coinbase is the clear leader in the North American crypto market and recently signed some key partnerships with Blackrock, the world’s largest asset manager, and Alphabet’s Google.
More companies will seek out Coinbase’s product line and expertise to launch new crypto products in the future so Coinbase will benefit along with the overall growth of the crypto industry.
Over 100 Million Verified Members Use Coinbase
While crypto bankruptcy cases may scare away some investors, Coinbase has over 100 million verified members using its platform across the globe. It’s likely that Coinbase could double that number to 200 million verified members by 2027 as more people embrace cryptocurrencies.
Should You Buy Coinbase Stock?
Coinbase is a solid company that will grow or shrinks depending on how the overall crypto outlook is.
Right now, COIN stock is a strong buy under $100 as Bitcoin approaches its next halving in 2024. With so much fear in the crypto markets, I believe now is a good time to buy Coinbase stock while others are fearful.