Gil Luria believes that cryptocurrencies will go “from being a great curiosity to becoming the future path for much of the financial system.”
DA Davidson financial company analyst Gil Luria is optimistic about the future of the cryptocurrency industry stating that they are going to have their “Amazon moment” with the upcoming stock market listing of cryptocurrency trading platform Coinbase. .
“We see Coinbase’s next direct listing as Amazon’s moment for cryptocurrencies, the historic moment when the world of cryptocurrencies and the traditional financial system intertwine truly and cryptocurrencies go from being a great curiosity to becoming the future path for much of the financial system “, commented Luria a CNBC News.
Given the growing momentum behind the company, the Wall Street analyst granted a buy rating and a price target of $ 195 for the shares of COIN, the symbol under which it will be traded on the Nasdaq market.
Despite the fact that the analyst acknowledges that it is a more speculative investment Than other companies recommended by DA Davidson, he regards Coinbase as a “standard bearer” for the industry.
Luria highlighted the regulatory compliance of the US crypto exchange with government regulators and the excellent security measures adopted that will generate confidence in consumers.
Although an exact date for Coinbase’s public listing has yet to be announced, the San Francisco-based company is cause for much anticipation. According to the last values, the platform has more than 43 million users worldwide and has made transactions of more than $ 456 billion till the date.