Stephanie Link On Coinbase: 'It Hasn't Performed Well, But I Still Like It A Lot.' Here Are Her Reasons Why

Oppenheimer named Coinbase Global Inc COIN a top pick for 2022 Wednesday, citing the continued adoption of digital assets. 

Hightower Advisors' Stephanie Link is maintaining her bullish outlook as well, despite the stock having fallen roughly 20% over the last month.

"It hasn't performed well, but I still like it a lot," Link said Wednesday on CNBC's "Fast Money Halftime Report."

She noted that she holds a small position because of the stock's volatility, but that doesn't mean she isn't confident in the company.

Coinbase is the largest and most secure crypto exchange with 56 million verified users and 11% market share, according to Link. 90% of the company's revenues are generated through fees and the current total addressable market (TAM) is expected to grow significantly over the next five years, she added.

The rate at which companies are embracing crypto can't be ignored, she emphasized. It's not just PayPal Holdings Inc PYPL, Block Inc SQ and Tesla Inc TSLA, she said, several other companies are also diving in. 

"I think crypto is here to stay. The exchange is the way to play it in my view," Link said. Coinbase is a little less volatile than the underlying cryptocurrencies, and it's trading around 21 times earnings, which is "very reasonable," she added.

See Also: Is Bitcoin Dead and Ethereum Outdated? Here's What Cathie Wood's Ark Invest Says

COIN Price Action: Coinbase has traded as high as $429.54 and as low as $208 since it went public in April.

The stock was up 2.36% at $253.54 at time of publication.

Photo: courtesy of Coinbase.

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Posted In: CryptocurrencyLong IdeasMarketsTrading IdeasCNBCStephanie Link
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