Greatest Opportunity of 2021 (Dogecoin, Coinbase & IPOs)

or it was sponsoring a nascar uh race if you remember that with the dog the dog on the front it's always been very light-hearted and fun and i think it's always going to be the fun coin of crypto so in that sense but there's no underlying technology so it's really hard to make some sort of investment case the only case you can really make is um people will like the fun coin of crypto more and more and more bit swap is the hottest new way to trade tokens crawling all the top decentralized exchanges bizwa will get you the very best price and value for your trades bitswap is changing the game try it now at welcome to bitboy crypto the largest crypto channel in all the interwebs my name is ben every day on this channel i show you how to make money in cryptocurrency if you like money in crypto then make sure to hit that subscribe button today guys we're bringing you another episode of stonkstay today we're going to be discussing dogecoin which isn't really a stock but justin does have some holdings in it and then also the coinbase ipo is it a good time to get in or what is the best entry price now now if you want to invest in the coinbase stock of course not financial advice i'm not a financial advisor you certainly visit deals scroll down to the weeble section and there you can get access to two free stocks by signing up of course i get two free ones as well for the referral all right guys if you want to do that make sure to visit the page let's go ahead and jump into the interview hey everybody once again today friday is stunx day you guys know i've joined with justin from a couple cents on youtube you guys make sure you're subscribing to his channel he's had some really great videos the last week on the coinbase ipo i wanted to bring you on talk about coinbase ipo and what you thought about it and and you know whether or not it's a it's a goodbye when people should be looking to to get in and then also first and foremost i want to talk about dogecoin because you you are a dogecoin holder tell us a little bit about your experience justin with dogecoin yeah i mean so i'm a long time very very large bitcoin owner ethereum owner uh actually a little bit of uh quite a bit amount of bnb as well um so those have been doing well and i i've always been a very big crypto guy i mean since 2013.

And uh dogecoin has always been a bit of a a funny one you know it's it was on the cover of it or it was sponsoring a nascar uh race if you remember that with the dog the dog on the front it's always been very light-hearted and fun and i think it's always going to be the fun coin of crypto so in that sense but there's no underlying technology so it's really hard to make some sort of investment case the only case you can really make is people will like fun the fun coin of crypto more and more and more as crypto grows and you know with with uh elon musk tweeting about it all the time i mean you kind of rely on the retail investor kind of pumping it and then you know it crashes a lot harder than everything else so i just remember this time around right towards uh the beginning or the middle of the game stop craze on the stock side of things uh folks you know as robin hood stopped a lot of the the trading on on uh gamestop people started looking for other things to pump and so one of the things like i got my start on tick tock one of the things that i saw was like dogecoin i was like oh this is like the third or fourth time i've seen dogecoin be pumped by internet and so i was like okay so i i basically bought a thousand bucks worth in my account my robin hood account if you can see here yeah yeah there it is and um and it you know it i just forgot about it because there's no real investment case but it's fun so that's my experience with it it's hard for me to say like go put like a hundred grand into something like this because long-term like you know what but i'm sure it's amazing for the traders on your channel yeah for sure i i don't think a lot of the traders though were seriously looking at at dogecoin and i know before we went on here we were talking a little bit about um you know what is that mean coin you know like a meme coin is just you know it's a coin that's for a community is really all that means and they kind of circle around the meme but in reality like there's not that much difference between a meme coin in dogecoin and something like litecoin you know like at the end of the day same right yeah like like seven grand now but like not even one like i didn't even know it was here but i could never have predicted that no right and like it's that's why i'm never been a light coin holder because who's to say that uh there are hundreds of bitcoin copies right litecoin is just bitcoin but they added a zero to throughput right yeah i mean well it was just a fork of the code it's just not a hardcore not a not a software fork of the code yes and the only thing that ever ever kind of made sense was that whole bitcoin cash split which is now right kind of behind us but in the moment it was like are they gonna hijack bitcoin but other than that bitcoin is king and so in the real world right for thousands and thousands of years as humans there's always been gold and what's the reason why you would want to like everybody wanted to trade gold and not like sterling silver or you know any other copper right those trade more like commodities it only matters how much that stuff's being used in the real world there's only one gold so whether it's litecoin or dogecoin or anything i as a corporate finance valuation analyst that likes business strategy there's really no strategy with dogecoin other than trying to predict elon's tweets maybe yeah exactly i think that has a lot to do with it um but you know also you know the original creator of dogecoin jackson palmer he's not even involved in it there's like no development on dogecoin like it it's not going to be anything in the future other than what it already is and i think when you look at a lot of the other cryptocurrencies that people invest in like you're investing in the potential of what it can become not investing in it because of what it is right now and dogecoin is a little bit different because it is just we're just investing in this because we think the price can go up um you know and the younger generation loves dogecoin and i like that i'm happy for all the people uh that made money with it but in terms of you know whether you should buy some now i mean i think you know you would probably agree with me that it just went up like in the last 24 hours 150 not the best time to probably get in but long term who knows how i can go yeah who uh who knows but if you buy now just ask yourself why would it go up yeah right and no one in the world can tell you unless you're elon musk and you tweet about it and pump it a little bit more no one can really tell you and then i saw stat on twitter that said like there needs to be x amount of dogecoin bought every single second in order for it to hold these prices like yeah that's the true so the higher it goes the more like the the more that a bubble requires to like stay whatever so um yeah i mean i i would i would say there are more fundamental holds like cardano or bnb or ethereum or even you know something like that but um yeah i mean this one is more of a fun thing if you just want to own a little bit now it's probably not the best time i generally even in the stock market i just generally don't like buying on up days like of course big updates i in the red cell in the green yeah exactly so whatever your gut feeling is do the opposite usually on the days that are like super up or super down man that you hit it on the head right there do the opposite of what you're feeling you know like you've got you have to be it's very counter intuitive to sell when it's doing well and to buy when it's doing bad but that's how you make money in investing so let's let's talk about the coinbase ipo i know you talked about it a lot on your channel um like you told the audience you guys want to go subscribe to a couple cents because make sure the link will be down below uh but you talked a lot about coinbase ipo we talked about it for several weeks leading up now we had it we had the launch what is your overall feeling on how the launch went first and then we'll get into you know what some good buying points could be all right so as we see here coinbase has been trading for two days now uh it closed at about the 320 bucks a share low 300s and really popped to over 400 i think you hit like 410 420 that'd be funny 420 bucks a share but the reference price at which i did a lot of my analysis was 250 bucks a share so um you know it's leveled off usually what i like to say is if it's a really hot buzzy ipo don't buy in the first day right and if it's popped from where people thought it was value should be valued then you should probably wait maybe a month or two or three right so i mean just kind of i mean i just wanted to show stock price but basically what i had basically done was at 250 bucks a share coinbase could be worth uh a lot more and i i i released a video it was like basically coinbase could be a steal but in order for it to be a steal you have to believe that bitcoin and crypto does really well yeah right one there one does not do well without the other well actually bitcoin can do well without coinbase coinbase cannot be uh do well without bitcoin and so i basically said we have about two trillion dollar market cap on crypto we have about a two trillion dollar uh crypto market cap in whole with a 52 bitcoin dominance right now and so if if we believe that crypto can surpass gold as in market cap and gold has about a 10 trillion dollar market cap let's just say the all of crypto is worth 15 trillion at some point so if this global crypto market cap if we believe that global crypto will become 15 trillion and if that's the case i kind of did the analysis where let's say they can have a average of of a two percent take rate or something like that on their assets on their platform and if you remember from our last discussion they have 11 of all crypto on their platform 11 so they can just maintain that and crypto goes from two to fifteen then it's probably a fifteen hundred dollar stock yeah because i also think that commissions are going to zero or close to zero over time right they're they're somehow able to take four and a half percent from iran from newbies right who don't know to go to pro dot coin base or not to go to binance or something um that's going to go away as like you know you don't think that like robin hood trading is going to get more down so i think like if you do the math right if crypto goes from 2 to 15 you know that's a 7 7 8 times upside and if if if um you buy in to coinbase stock today at low 300s and then it goes to 1500 that's only like a four and a half times upside down so at that point i would rather just buy bitcoin or if you think bitcoin dominance is gonna go down then buy a basket i know grayscale has a vehicle where it's like the the large cap coins so i would rather invest in a coin like i guess a diversified group of crypto over coinbase unless you think that coinbase somehow drives these insane amounts of value through uh prime brokerage to the institutions with their which they're big in or lending or um i don't know maybe we're all using coinbase credit cards instead of visa someday if you believe in that then you can hold it with optionality because coinbase will do well as crypto as well as well so they're going to have to figure out how to the next lily pads to build and jump on well i'm i'm probably going to be reaching out to coinbase and asking them if they would just sell me all their user data so i can go trade and know how to make the best trades based on the poor coinbase peasants that's revenue if they sell you the data yeah coinbase would get murdered if they did that you know in crypto that's definitely flying crypto um i think something like that would be very counterproductive but i do think you know we talked about before it's not a fang stock you know because it it doesn't fit that same category because it's not like a software company um but you know that could be something they kind of move more towards using analytics um you know something like that maybe they they have like a studio similar to glass node in the future where they've got analytics for sale or whatever so i'm very interested this is something that i said about coinbase is that i'm very interested to see what their company will look like because after you told me that because i didn't know that was like amazon's main money maker um with the cloud services and stuff like that every told me that i sat there thinking like yeah we don't know what coinbase is going to look like in the future you know it could move to more if that's what all these major companies are doing then it would change the reason that uh they're going to do it as well well i know that uh coinbase is uh for purchase on weeble the coinbase stock if anybody wants to get access to that go to deals go to the wheel uh the weeble page you guys can purchase it there i'm going to be purchasing some today i'm actually i think around 300 320 dollars somewhere in that range i'm comfortable buying it because i just want to hold some and i think i didn't want to get it the first day but now things have calmed down a little bit it's kind of evening out the one thing i am going to be really interested in uh is going to be whether or not bitcoin price just has a direct effect on the coinbase price like when we start to go to a bear market are we gonna see like incredible opportunities on the stock side for coinbase uh with the public company because of the price is dipping what what what is uh just lastly what what is your view on um number one just buying it right now where it's at you think there's a ton of downside and number two um do you think that a bear market is gonna create a similar opportunity for the stock that we see in bitcoin yeah so if you look at their data and their charts uh their monthly trading volume goes gets cut in a third when bitcoin is not in a bull market yeah so their revenues are gonna conceptually get cut into a third so what i would say is i would probably guess this company gets a lot cheaper um when we enter a crypto winter and it's not necessarily that if bitcoin's going down it's it's when people are not looking at bitcoin which will happen again right we've gone through three of these cycles i mean more than that some people uh but the question is do you think that it will go down more than bitcoin will and my bias is to say yes so if bitcoin goes to crash it let's say we hit 100 150 000 in bitcoin that's the peak for this cycle and we crashed 40 then you know coinbase probably crashes 50 after they report earnings where they're not making as much money um but i mean it's not i don't think it's unreasonable the reason why i think the best reasons to buy coinbase is you have money in a 401k or retirement account or a ira where you can't buy like you can't buy crypto then coinbase is probably a fine enough way to get exposed to the asset class that's why i think kathy wood is buying like instead of but also we have some issues with gbtc and stuff like that but i also think that you should compare it against gbtc if you're one of them but you know i don't think you're wrong and i think there's optionality just be prepared for you to not i think it just has a worse risk reward profile than bitcoin itself so as long as you're okay with that as long as you're okay with like 5x upside if bitcoin goes like 7x upside and but you have the optionality of brian armstrong the ceo and them creating some cool value you know i think that you're giving up some upside for optionality that this company like developed some really cool yeah i think that uh i just have to believe somewhere down the line the brian and i are cousins i have to believe it on some level i don't know how we're not we have to be i mean we have the same last name we're both into crypto uh we both use coinbase the first year it was around and both of our first names start with b i mean it it has to be obviously uh relation there uh but yeah so i think like for me personally every single thing i invest in isn't from a pure like it's a great investment decision like i like to support stuff and so for me like owning some coinbase stock i think would just be like it's a way for me to support them and be cool i always love coinbase i've never you know i don't have a lot of problems with them like a lot of people do so um and i just like i said in the back of my mind i got to think somewhere at a family reunion i'm going to see brian or i'm going to be like dang i knew it that's why it's awesome i know i'm rooting for that yeah we're in for it uh all right justin well thanks for coming on the show today as always it's been wonderful uh we got a a good video for you guys next week uh we're gonna be talking about top crypto stock so excited to to do that as well justin anything you want to leave us with today no definitely uh this was fun and if you want to know about more about coinbase i did three videos in a row i think i'm gonna leave that one there on my channel at a couple cents on youtube and other than that see you guys next week yeah that's it alright guys drop some comments down below let us know what are your thoughts on dogecoin and are you gonna buy some coinbase stock or maybe you already have drop those down below that's all i got be blessed you

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