Berenberg analysts Say Microstrategy shares is better than Coinbase
A new report by Berenberg analysts noted that it is not better to invest in Coinbase (COIN) shares because of the unclear regulatory environment in the US.
Microstrategy is a US-based Nasdaq-listed publicly traded firm. This business intelligence firm holds nearly 140,000 BTC on the company’s balance sheet. Under the leadership of Michael Saylor, the company started to purchase Bitcoin in 2020.
Recently Berenberg analysts Mark Palmer and Hassan Saleem shared their research & analysis on Microstrategy (MSTR) & Coinbase (COIN) shares and noted that Microstrategy shares are a better pick over Coinbase shares.
Analysts noted that Microstrategy is holding & investing in Bitcoin directly, while Coinbase provides crypto services & is struggling badly under the current unclear crypto regulatory environment.
Coinbase & legal hurdles
To this date, Coinbase is not facing any kind of enforcement action or Lawsuit action but still, this exchange is under huge legal hurdles.
In March of this year, the United States Securities and Exchange Commission (SEC) sent a Wells notice to this exchange over the potential violation of federal securities laws.
The Coinbase executives officially responded on this matter & confirmed that they approached the SEC body several times but failed to get a response, so they have no right to send a legal notice.
Coinbase shares
The current trade price of COIN share is $56.92 & this trade price is 13.52% high over the last 30 days of trade price.
After the Q1 2023 earnings report, stock traders showed significant interest in Coinbase shares, following an unexpected net increment in revenue over the last quarter.
So far the journey for this top-regulated American crypto exchange went well but no one can say with full surety that the upcoming months will not bring any legal hurdles for this crypto firm.
Despite legal hurdles, the Coinbase team never failed to push new development plans in the crypto sector. Coinbase is planning to launch the Mainnet of the Base network.
The base network is a layer-2 blockchain network, dedicated to provide highly efficient crypto transactions for the flagship crypto networks. Since Feb 2023, Base has been in the testnet version.
Read also: 9,909,465 Reddit accounts holding NFTs: Report
Comments