Where Does Coinbase’s Bitcoin Futures Offering Fit?
— Bitcoin, Stock, Offer, Crypto, Coinbase, Does, Offering, Coinbases, Product, Futures, Fit, Trading, Contracts — 1 min read
COIN stock jumped 6.5% to $62.71 on June 24, though it is still down 75% year-to-date. It is offering what it calls “nano” Bitcoin futures contracts priced at one-hundredth of the flagship cryptocurrency, which is about $210 per contract with Bitcoin at about $21,000. The lower upfront cost is expected to make the product more accessible to retail investors. Valued at $3 trillion, the crypto derivatives market presents a huge revenue opportunity for Coinbase. Wall Street is cautiously optimistic about CoIN stock with a Moderate Buy consensus rating, based on 14 Buys, five Holds, and two Sells. The average price target of $131.79 implies 110 Source