{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"The Scoop","title":"Why Coinbase is undervalued, according to a top Wall Street analyst","html":"","width":"100%","height":180,"duration":2573,"description":" Coinbase shares are down over 70% on the year, a state of affairs compounded by a rough Q1, but one leading Wall Street analyst believes Coinbase may be undervalued. \nIn this episode of The Scoop, Mark Palmer — managing director and fintech analyst at global financial services firm BTIG — shares why his firm is bullish on a narrative shift on Wall Street regarding Coinbase stock in the coming months.\nAs Palmer contended during the show:\n“Coinbase has developed itself over the last ten years, largely via acquisition… and over time, this is going to become much less of a retail trading story and much more about a sort of crypto supermarket that's going to have an awful lot of different revenue drivers.”\nPalmer points to the 2021 acquisition of Bison Trails as an example of Coinbase’s horizontal expansion. As Coinbase CPO Surojit Chatterjee and Bison Trails founder Joe Lallouz argued during an episode of The Scoop, the deal enhanced Coinbase’s crypto infrastructure services products, including institutional staking support.\nAlthough Coinbase offers a wide range of crypto services, Palmer believes many Wall Street analysts tend to view Coinbase first and foremost through the lens of an exchange:\n“There are a lot of folks who are covering some of the crypto exchanges and platforms that really aren't as focused on crypto — maybe they're focused on exchanges at large — and some of those distinctions and nuances, which are crucially important, get missed.”\nEditor's Note: While Coinbase is a sponsor of The Scoop podcast, this episode is not an endorsement of Coinbase stock or products, nor was it produced with involvement from Coinbase. All opinions expressed by host and podcast guest are solely their own opinions and not necessarily those of The Block. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.\n\nEpisode 48 of Season 4 of The Scoop was recorded remotely with The Block’s Frank Chaparro and Mark...","thumbnail_url":"https://img.transistorcdn.com/kC6kzNjgr18dm0FmBfV_f9xccAkjj-QXoCJmVNlNtrU/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS8xZmIz/N2E5MmRmMzJjOTU3/OTNhYjJkYzcxZTlj/MTU2Yi5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}