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Are Coinbase shares a good way for me to get indirect exposure to cryptocurrency?


first_img Image source: Getty Images jonathansmith1 has no position in any of the shares mentioned. The Motley Fool UK owns shares of and has recommended Bitcoin. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. There have been several large IPOs already in 2021. One of the most anticipated was Coinbase (NASDAQ:COIN). Its shares were listed under a month ago. It’s the second largest cryptocurrency exchange, and so carries forward the momentum of the industry in general. Over the past year, different virtual coins have seen big increases in value as investors have piled in. With Coinbase now being listed, is buying shares a smart way to get exposure to Bitcoin and other coins?What does Coinbase do?For some people, it might not be that easy to figure out what Coinbase does. It’s not a digital asset mining company, or a cryptocurrency. Rather, it’s an exchange platform. This means I could register on it to buy and sell cryptocurrency.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…In some ways, it’s like the London Stock Exchange, but for digital coins instead of stocks. Now you might think that it would be odd to buy Coinbase shares to get exposure to digital coins. After all, I wouldn’t buy shares in the LSE Group simply because I want to get exposure to stocks!Yet I think the correlation between Coinbase shares and Bitcoin (or other coins) is different. Coinbase at the moment is the only major listed cryptocurrency exchange. The vast bulk of revenue comes purely from trading fees from people buying and selling coins.For the moment, the performance of Coinbase as a company is very much tied in to the amount of activity and trading on the exchange. Put another way, the more people who buy or sell Bitcoin, the more revenue Coinbase will make from trading commissions.Will Coinbase shares mirror crypto moves?I’ve established that more trading activity is good news for Coinbase as an exchange platform. So in theory, it shouldn’t matter whether Bitcoin moves higher or lower, as long as there is trading activity through Coinbase. This is because it makes money through activity, which could be buying or selling. In the short term, Coinbase shares wouldn’t logically track the direction of a particular coin.This differs from the long-term view. If investors all sell out of Bitcoin and other coins, then over time, there will be very limited activity on the exchange, which would be negative for Coinbase shares.Sometimes, the logical doesn’t always happen. This is because people buy stocks for speculative purposes. For example, I don’t believe that the surge in the GameStop share price was due to company-specific performance.For Coinbase shares, if enough investors buy them speculatively for exposure to Bitcoin, then the share price will likely move in the same way as Bitcoin. There is nothing stopping investors buying and selling stocks regardless of a fundamental value. In my view, Coinbase shares should have a good correlation to cryptocurrency (Bitcoin in particular) due to speculative investors. But I’m an investor who prefers to buy shares in companies whose product — and future — I really believe in, rather than reacting to speculation. Personally, it’s too early for me to consider buying after the IPO. Recent volatility is very high, so I’m going to sit out until things settle down and I can see how the company is developing. I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Our 6 ‘Best Buys Now’ Shares Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! “This Stock Could Be Like Buying Amazon in 1997” Are Coinbase shares a good way for me to get indirect exposure to cryptocurrency?center_img Jonathan Smith | Tuesday, 4th May, 2021 | More on: COIN I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. See all posts by Jonathan Smith Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Simply click below to discover how you can take advantage of this. Enter Your Email Addresslast_img read more


CIF sets out plan to save jobs


first_imgAdvertisement A RECOVERY plan put forward by construction employers to save jobs, generate increased government revenues and kick start economic recovery has been backed by The Mid West Branch of the Construction Industry Federation.The CIF recently held an emergency meeting that brought together all of the major construction employers, including the major material suppliers, representatives of the architectural, engineering and surveying professions, major contractors and house builders.Conor O’Connell from the CIF Mid West Branch outlined the key issues contained in the recovery plan drawn up by the CIF. According to Conor O’Connell, “infrastructure spending is the key to saving jobs, increasing exchequer revenues and providing a platform for economic recovery for the Mid West region.”    “In the Mid West, construction currently employs in the region of 15,000 people directly, which is down by almost 10,000 people in two years. This does not include the thousands of people who are employed indirectly.  The sector in the Mid West also supports thousands of induced jobs in the shops, restaurants etc. where construction workers spend their wages.”  “It was agreed as part of the recovery plan that urgent action is needed within the next month to protect these existing jobs. The prospect of thousands of job losses in construction throughout the Mid West and the entire country is real unless the pipeline of projects increases.”“One of the major fears for construction employers in the Mid West relates to infrastructure spending and the possibility of further cuts in labour intensive projects arising from the upcoming budgetary measures. It is the view of the Mid West Branch that this would be the entirely wrong thing to do from the economy’s perspective resulting in increased social welfare costs and undoing any savings from upcoming budgetary measures.”“As it is, 75% of infrastructure spending is already committed to ongoing or contracted projects and even a minor cut in spending would mean that virtually no new projects will start over the coming months.  In addition, spending on the pre-tender design, engineering and surveying has been significantly cut meaning a reduction in ready to go projects over the coming 12 months.”Mr O’Connell said, “Now is the time for the Government to take advantage of the competitive tendering environment and to place an emphasis on labour intensity and projects that are vital for the local economy in the long term.”“The payback to the state will be immediate. Research shows that every €100m spent on construction projects creates 1,000 jobs and generates nearly €50m for the exchequer through income, taxes and social welfare savings. Infrastructure improvements also ensure the future tax income of the economy by improving competitiveness and attracting inward investment.” Linkedin WhatsApp Twitter Printcenter_img Previous articleDell to cut 100 more jobs in LimerickNext articleMan seriously injured in shooting admin Email NewsLocal NewsCIF sets out plan to save jobsBy admin – March 21, 2009 687 Facebooklast_img read more




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