If Bitcoin is a religion, then Coinbase is its Vatican

Make sure you don’t miss Byrne Hobart’s new writeup of the upcoming Coinbase IPO, which is sure to be a massive story on The Street as we get closer. It’s worth paying attention to Coinbase now because this might be the next $100 billion company upon coming public.

Byrne makes the case that Coinbase has done a good job thus far in building a bridge between the Bitcoin zealots -whose early adoption brought trading revenue in – and the incumbent financial establishment. They’ve had almost a decade’s worth of practice communicating with regulators and answering difficult questions. As regulations take shape for the crypto-ing of financial services, Coinbase is in a highly favorable position to conduct the sort of intergroup diplomacy necessary to continue the process of mainstreaming.

They’re coming public with over a billion dollars in revenue and 43 million users.

Byrne has opened this up to all readers, not just subscribers to his wonderful Substack letter “The Diff” – you can read it below:

Understanding Coinbase (The Diff)