Why Analyst Thinks Coinbase Is On Track To Become A 'Generational Company'

Loup Funds analysts Gene Munster and Doug Clinton touched on Coinbase Global Inc COIN in a recent video after the company aired an advertisement featuring a QR code in the Super Bowl.

What Happened: Munster said Coinbase’s advertisement stood out to him and that he was “thrilled” to see it because Loup is an investor in the cryptocurrency trading platform.

“I think Coinbase has this ideal balance between being in front of a massive curve to sleeping well at night, knowing that they make money,” said Munster.

Munster said Coinbase has the potential to be one of those generational companies that 10 years from now become household names.

See Also: How To Buy Coinbase (COIN) Shares

Why It Matters: Clinton said the Coinbase advertisement was creative despite the fact the platform’s app went down. He said he views the app becoming inaccessible as a positive too as it got people talking about the company. 

Clinton also said that cryptocurrencies are closer to mainstream inflection than electric vehicles.

Coinbase has extended a $3 million Bitcoin BTC/USD giveaway to existing users until Feb. 27 after garnering eyeballs for its Super Bowl advertisement.

The platform enables users to trade in cryptocurrencies such as Bitcoin, Ethereum ETH/USD, and Dogecoin DOGE/USD.

Price Action: On Monday, Coinbase shares rose 0.4% to $195.25 in the regular session. The shares appreciated 0.5% in the after-hours trading.

Read Next: LeBron James, Larry David And QR Codes: The Star-Studded Crypto Super Bowl Commercials

Photo: Courtesy of Marco Verch via Flickr

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: CryptocurrencyLong IdeasNewsMarketsTrading IdeasCryptocurrency ExchangesGene MunsterLoup Funds
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...