BREAKDOWN: Coinbase Going Public Is the Bitcoin Bull Market's First Big Test
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 12 April 2021
⏱️ 24 minutes
🧾️ Download transcript
Summary
This inflection point moment could have major implications for where markets head next
This episode is sponsored by Nexo.io.
Coinbase is set to go public via direct listing on Wednesday.
In today’s episode, NLW breaks down why this is the current bull market’s first big test, looking at:
- Mainstream narratives
- Institutional liquidity
- Retail participation
- Spillover effects
- The direction in which we head next
What’s clear is that this bull run does not equal 2017 and will be shaped by a largely different set of forces.
Byzantine General’s overview thread: https://twitter.com/ByzGeneral/status/1381095621017354240
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Transcript
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| 0:45.6 | That's audible.com slash Wondery UK. |
| 0:53.8 | Welcome back to The Breakdown with me, NLW. |
| 0:58.8 | It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. |
| 1:05.7 | The breakdown is sponsored by nexo.io and produced and distributed by CoinDest. |
| 1:12.6 | What's going on, guys? It is Monday, April 12th, and this is a big week. This week on Wednesday, |
| 1:21.3 | April 14th, Coinbase will go public via direct listing on NASDAQ under the ticker coin. The public listing is incredibly |
| 1:30.7 | highly anticipated by the crypto industry, of course, but also by Wall Street. Coinbase's |
| 1:36.8 | Q1 numbers were absolutely monster and saw some analysts revised their price predictions for |
| 1:42.6 | shares anywhere from 195 to 440 a share. |
| 1:47.5 | Even before the Q1 numbers came out, some were anticipating a $100 billion valuation. |
| 1:52.3 | Now, that number has crept up. FTX has listed pre-IPO contracts and say the current trading |
| 1:58.2 | implies a valuation of around $140 billion. To be fair, the range |
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