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Gavin Baker - Stock tip: Coinbase (COIN)

Cliona O'Dowd and Glenda Korporaal
The Australian
Dec 3, 2021

Gavin Baker, managing partner and CIO of Atreides Management, a $4.5bn crossover firm based in Massachusetts, recommends investors hold Coinbase, a platform for investing in cryptocurrency.

Two simple conditions are needed for the platform to succed, he argues: that the fiat world persists for at least several decades, and that cryptocurrencies are “real – here to stay”.

“If these two conditions are met Coinbase is likely to be a successful investment,” he says.

The programmable nature of cryptocurrency “lets a company like Coinbase generate a wide variety of insularity revenue streams and these ops are simply not present with brokers that focus on fiat currency,” Baker says.

“We believe the subscription and services revenue line – which has already bagged $US600m dollars, going over 12 hundred per cent year on year – those are annualised numbers – will be over 50 per cent of revenue within several years.”

This article was originally posted by The Australian here.

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