Coinbase Inc.

This morning, Coinbase, Inc. ($COIN) started trading after a direct listing on the Nasdaq stock exchange, with a current share price of 554,212 sats ($349). With 261.3 Million shares outstanding, the company has a market capitalization of 1,475,878 BTC ($91.19 billion) at the time of writing. While Coinbase has played a large role in the history of Bitcoin, especially in the United States over the last decade, the company is unattractive from an investment standpoint in bitcoin terms, and anyone using the world’s soundest money as their unit of account for economic calculation should agree.

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