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🫠Coinbase
I am not one to change long-term conviction over short-term news. I didn’t expect their insane rate of growth to continue, if management did, they were clearly delusional and not realizing why some/many people had gotten into crypto to begin with (plenty were just bored af during Covid). And knowing how investors and markets work, people being weak souls they are, panic sell anytime there are rough sees and trading volume slows. These situations are when I’ve increased my net worth the most. I still feel crypto assets and blockchain will continue to gain adoption and Coinbase is the only public company in the space. We’ll see if they adapt or stay delusional, I’ll keep my chips with management for now. Their high fees, although I hate them and it limits my use of their platform (don’t use it for trading, just buy/hold/staking) gives them plenty of room to lower that as mainstream use rises. Pricing them like they’re filing for bankruptcy is as irrational as anything I’ve ever seen. At ~$55 today I’ll continue eating it up to lower my entry point. I didn’t think it was risky at $100, I sure as hell don’t think it’s risky at $55. My margin of safety continues to get larger. People will be paying me to take their shares next week🤣these are the irrational price swings I LOVE to take advantage of. Serving em up on a platter. It was clearly over valued for a long time, but a $60 stock, it is not.

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