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Greatest Opportunity of 2021 (Dogecoin, Coinbase & IPOs) - YouTube
Channel: BitBoy Crypto
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or it was sponsoring a nascar uh
[3]
race if you remember that with the dog
[6]
the dog on the front it's always been
[8]
very light-hearted and fun
[10]
and i think it's always going to be the
[11]
fun coin of crypto
[13]
so in that sense but there's no
[15]
underlying technology so it's really
[17]
hard to make some sort of investment
[18]
case
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the only case you can really make is um
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people will
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like the fun coin of crypto more
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and more and more
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bit swap is the hottest new way to trade
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welcome to bitboy crypto the largest
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crypto channel in all the interwebs
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my name is ben every day on this channel
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i show you how to make money in
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cryptocurrency
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if you like money in crypto then make
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sure to hit that subscribe button
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today guys we're bringing you another
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episode of stonkstay
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today we're going to be discussing
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dogecoin which isn't really a stock but
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justin does have some holdings in it
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and then also the coinbase ipo is it a
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good time to get in
[70]
or what is the best entry price now now
[72]
if you want to invest in the coinbase
[73]
stock of course not financial advice i'm
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not a financial advisor
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you certainly visit bitboycrypto.com
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deals
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scroll down to the weeble section and
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there you can get access to two free
[83]
stocks by signing up of course i get two
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free ones as well
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for the referral all right guys if you
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want to do that make sure to visit the
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page
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let's go ahead and jump into the
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interview hey everybody once again today
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friday is stunx day you guys know i've
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joined with justin
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from a couple cents on youtube you guys
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make sure you're subscribing to his
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channel he's had some really great
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videos
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the last week on the coinbase ipo i
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wanted to bring you on talk about
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coinbase ipo
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and what you thought about it and and
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you know whether or not
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it's a it's a goodbye when people should
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be looking to to get in
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and then also first and foremost i want
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to talk about dogecoin because you you
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are a dogecoin holder
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tell us a little bit about your
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experience justin with dogecoin
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yeah i mean so i'm a long time very very
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large bitcoin owner
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ethereum owner uh actually a little bit
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of uh quite a bit amount of bnb as well
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um so those have been doing well and i
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i've always been a very
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big crypto guy i mean since 2013.
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and uh dogecoin has always been a bit of
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a
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a funny one you know it's it was on the
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cover of it or it was sponsoring a
[147]
nascar uh race if you remember that
[151]
with the dog the dog on the front it's
[154]
always been very light-hearted and fun
[156]
and i think it's always going to be the
[157]
fun coin of crypto
[159]
so in that sense but there's no
[161]
underlying technology so it's really
[163]
hard to make some sort of investment
[164]
case
[165]
the only case you can really make is
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people will
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like fun the fun coin of crypto more and
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more and more as crypto grows
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and you know with with uh elon musk
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tweeting about it all the time
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i mean you kind of rely on the retail
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investor kind of pumping it
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and then you know it crashes a lot
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harder than everything else so
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i just remember this time around right
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towards uh
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the beginning or the middle of the game
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stop craze on the stock side of things
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uh folks you know as robin hood stopped
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a lot of the the trading on on uh
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gamestop
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people started looking for other things
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to pump and so one of the things like i
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got my start on tick tock
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one of the things that i saw was like
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dogecoin i was like oh this is like the
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third or fourth time i've seen dogecoin
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be pumped by
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internet and so i was like okay so i i
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basically bought
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a thousand bucks worth in my account
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my robin hood account if you can see
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here yeah yeah there it is
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and um and it
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you know it i just forgot about it
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because there's no real investment case
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but it's fun
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so that's my experience with it it's
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hard for me to say like
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go put like a hundred grand into
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something like this because
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long-term like you know what but i'm
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sure it's amazing for the traders on
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your channel
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yeah for sure i i don't think a lot of
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the traders though
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were seriously looking at at dogecoin
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and i know before
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we went on here we were talking a little
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bit about um
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you know what is that mean coin you know
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like a meme coin is just
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you know it's a coin that's for a
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community is really all that means and
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they kind of circle around the meme
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but in reality like there's not that
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much difference between
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a meme coin in dogecoin and something
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like litecoin
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you know like at the end of the day same
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right yeah like
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like seven grand now but like not even
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one like i didn't even
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know it was here but i could never have
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predicted that
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no right and like it's that's why i'm
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never been a light coin holder
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because who's to say that uh
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there are hundreds of bitcoin copies
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right
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litecoin is just bitcoin but they added
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a zero to throughput
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right yeah i mean well it was just a
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fork of the code
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it's just not a hardcore not a not a
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software fork of the code
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yes and the only thing that ever ever
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kind of made sense was that whole
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bitcoin cash split which is now right
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kind of
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behind us but in the moment it was like
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are they gonna hijack bitcoin
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but other than that bitcoin is king and
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so in the real world right for thousands
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and thousands of years as humans
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there's always been gold and what's the
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reason why you would want to like
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everybody wanted to trade gold
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and not like sterling silver or
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you know any other copper right those
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trade more like commodities
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it only matters how much that stuff's
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being used
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in the real world there's only one gold
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so whether it's litecoin
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or dogecoin or anything i as a
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corporate finance valuation analyst that
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likes
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business strategy there's really no
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strategy with dogecoin other than trying
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to predict elon's tweets maybe yeah
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exactly i think that has a lot to do
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with it um but you know
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also you know the original creator of
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dogecoin jackson palmer
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he's not even involved in it there's
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like no development on dogecoin like
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it it's not going to be anything in the
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future other than what it already is
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and i think when you look at a lot of
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the other cryptocurrencies that people
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invest in like you're investing in the
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potential of what it can become
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not investing in it because of what it
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is right now and dogecoin is a little
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bit different because
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it is just we're just investing in this
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because we think the price can go up
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um you know and the younger generation
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loves dogecoin and i like that i'm happy
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for all the people
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uh that made money with it but in terms
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of
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you know whether you should buy some now
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i mean i think
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you know you would probably agree with
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me that it just went up like in the last
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24 hours 150
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not the best time to probably get in but
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long term who knows how i can go
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yeah who uh who knows but if you buy now
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just ask yourself why would it go up
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yeah right and no one in the world can
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tell you unless you're elon musk and you
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tweet about it and pump it a little bit
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more no one can really tell you
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and then i saw stat on twitter that said
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like
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there needs to be x amount of dogecoin
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bought every single
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second in order for it to hold these
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prices like yeah that's the true so
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the higher it goes the more like the the
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more
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that a bubble requires to like stay
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whatever so
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um yeah i mean i i would i would say
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there are more fundamental
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holds like cardano or bnb or
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ethereum or even you know something like
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that but um yeah i mean this one is more
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of a fun thing if you just want to own a
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little bit
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now it's probably not the best time i
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generally even in the stock market i
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just generally don't like buying on up
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days
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like of course big updates i in the red
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cell in the green yeah
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exactly so whatever your gut feeling is
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do the opposite
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usually on the days that are like super
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up or super down man that
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you hit it on the head right there do
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the opposite of what you're feeling
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you know like you've got you have to be
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it's very counter intuitive
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to sell when it's doing well and to buy
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when it's doing bad
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but that's how you make money in
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investing so
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let's let's talk about the coinbase ipo
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i know you talked about it a lot on your
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channel
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um like you told the audience you guys
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want to go subscribe to a couple cents
[490]
because make sure the link will be down
[492]
below uh but you talked a lot about
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coinbase ipo we
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talked about it for several weeks
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leading up now we had it we had the
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launch
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what is your overall feeling on how the
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launch went first and then we'll get
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into
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you know what some good buying points
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could be all right so as we see here
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coinbase has been trading for two days
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now uh it closed at about
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the 320 bucks a share low 300s
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and really popped to over 400 i think
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you hit like 410 420 that'd be funny
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420 bucks a share but the reference
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price
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at which i did a lot of my analysis was
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250 bucks a share
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so um you know it's leveled off
[530]
usually what i like to say is if it's a
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really hot buzzy ipo
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don't buy in the first day right and
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if it's popped from where people thought
[539]
it was value should be valued
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then you should probably wait maybe a
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month or two or three right
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so i mean just kind of i mean i just
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wanted to show stock price but basically
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what i had basically done was at 250
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bucks a share
[554]
coinbase could be worth uh
[558]
a lot more and i i i released a video it
[560]
was like
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basically coinbase could be a steal but
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in order for it to be a steal
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you have to believe that bitcoin and
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crypto does really well yeah right
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one there one does not do well without
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the other well actually bitcoin can do
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well without coinbase coinbase cannot be
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uh do well without bitcoin and so i
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basically said
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we have about two trillion dollar market
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cap on crypto
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we have about a two trillion dollar uh
[585]
crypto market cap
[586]
in whole with a 52 bitcoin dominance
[589]
right now and so if if we believe that
[592]
crypto can surpass
[594]
gold as in market cap and gold has about
[597]
a 10 trillion dollar market cap
[598]
let's just say the all of crypto is
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worth 15 trillion at some point
[603]
so if this global crypto market cap if
[605]
we believe that
[607]
global crypto will become 15 trillion
[610]
and if that's the case i kind of did the
[613]
analysis where
[614]
let's say they can have a average of of
[617]
a two percent
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take rate or something like that on
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their
[621]
assets on their platform and if you
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remember from our last discussion they
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have 11
[625]
of all crypto on their platform 11
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so they can just maintain that and
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crypto goes from two to fifteen
[632]
then it's probably a fifteen hundred
[635]
dollar stock
[636]
yeah because i also think that
[637]
commissions are going to zero or close
[639]
to zero
[640]
over time right they're they're somehow
[642]
able to take four and a half percent
[643]
from
[644]
iran from newbies right who don't know
[647]
to go to pro dot coin base or
[649]
not to go to binance or something um
[651]
that's going to go away as like
[652]
you know you don't think that like robin
[654]
hood trading is going to get more
[655]
down so i think like if you do the math
[659]
right
[660]
if crypto goes from 2 to 15
[663]
you know that's a 7 7 8 times upside
[666]
and if if if um
[670]
you buy in to coinbase stock today at
[672]
low 300s
[673]
and then it goes to 1500 that's only
[676]
like a four and a half times upside
[677]
down so at that point i would rather
[680]
just buy
[681]
bitcoin or if you think bitcoin
[682]
dominance is gonna go down
[684]
then buy a basket i know grayscale has a
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vehicle where it's like
[688]
the the large cap coins so i would
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rather
[691]
invest in a coin like i guess a
[694]
diversified
[695]
group of crypto over coinbase
[699]
unless you think that coinbase somehow
[701]
drives these insane amounts of value
[703]
through uh prime brokerage to the
[706]
institutions with their which they're
[708]
big in
[708]
or lending or um i don't know maybe
[712]
we're all using coinbase credit cards
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instead of visa someday
[715]
if you believe in that then you can hold
[717]
it with optionality because coinbase
[718]
will do well as crypto as well as well
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so they're going to have to
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figure out how to the next lily pads to
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build and jump on
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well i'm i'm probably going to be
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reaching out to coinbase and
[729]
asking them if they would just sell me
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all their user data so i can go trade
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and know how to make the best trades
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based on the poor coinbase peasants
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that's revenue if they sell you the data
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yeah
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coinbase would get murdered if they did
[742]
that you know in crypto that's
[744]
definitely flying crypto
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um i think something like that would be
[747]
very counterproductive but i do think
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you know we talked about before it's not
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a fang stock you know because
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it it doesn't fit that same category
[754]
because it's not like a software company
[756]
um but you know that could be something
[758]
they kind of move more towards
[759]
using analytics um you know something
[762]
like that maybe they they have like a
[763]
studio similar to glass node
[765]
in the future where they've got
[767]
analytics for sale or whatever so
[769]
i'm very interested this is something
[771]
that i said about coinbase is
[772]
that i'm very interested to see what
[774]
their company will look like because
[775]
after you told me that
[776]
because i didn't know that was like
[778]
amazon's main money maker
[780]
um with the cloud services and stuff
[781]
like that every told me that i sat there
[782]
thinking like
[784]
yeah we don't know what coinbase is
[785]
going to look like in the future you
[786]
know it could
[787]
move to more if that's what all these
[789]
major companies are doing
[790]
then it would change the reason that uh
[792]
they're going to do it as well
[793]
well i know that uh coinbase is uh for
[796]
purchase on weeble the coinbase stock if
[798]
anybody wants to get access to that
[800]
go to biblical.com deals go to the wheel
[802]
uh the weeble page
[804]
you guys can purchase it there i'm going
[805]
to be purchasing some today
[807]
i'm actually i think around 300 320
[811]
dollars somewhere in that range
[812]
i'm comfortable buying it because i just
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want to hold some
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and i think i didn't want to get it the
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first day but now things have calmed
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down a little bit it's kind of evening
[820]
out
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the one thing i am going to be really
[823]
interested in uh
[824]
is going to be whether or not bitcoin
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price
[828]
just has a direct effect on the coinbase
[831]
price like when we start to go to a bear
[832]
market
[833]
are we gonna see like incredible
[835]
opportunities
[836]
on the stock side for coinbase uh with
[838]
the public company because of
[840]
the price is dipping what what what is
[842]
uh just lastly what what is your view
[844]
on um number one just buying it right
[847]
now where it's at you think there's a
[849]
ton of downside
[850]
and number two um do you think that a
[852]
bear market is gonna
[853]
create a similar opportunity for the
[855]
stock that we see in bitcoin yeah so if
[856]
you
[857]
look at their data and their charts uh
[860]
their monthly trading volume goes gets
[863]
cut in a third
[865]
when bitcoin is not in a bull market
[867]
yeah so their revenues are gonna
[869]
conceptually get
[870]
cut into a third so what i would say is
[874]
i would probably guess this company
[878]
gets a lot cheaper um
[881]
when we enter a crypto winter
[885]
and it's not necessarily that if
[888]
bitcoin's
[888]
going down it's it's when people
[892]
are not looking at bitcoin which will
[894]
happen again right we've gone through
[895]
three of these cycles i mean more than
[896]
that some people uh
[898]
but the question is do you think that
[902]
it will go down more than bitcoin will
[905]
and my bias is to say yes
[907]
so if bitcoin goes to crash it let's say
[909]
we hit 100 150 000 in bitcoin
[912]
that's the peak for this cycle and we
[914]
crashed 40
[915]
then you know coinbase probably crashes
[919]
50 after they report earnings where
[922]
they're not making as much money
[923]
um but i mean it's not i don't think
[926]
it's unreasonable
[928]
the reason why i think the best reasons
[930]
to buy coinbase
[931]
is you have money in a 401k
[934]
or retirement account or a ira where you
[937]
can't
[938]
buy like you can't buy crypto
[942]
then coinbase is probably a fine enough
[945]
way to get exposed to the asset class
[947]
that's why i think kathy wood is buying
[949]
like instead of but
[950]
also we have some issues with gbtc and
[952]
stuff like that but i also think that
[955]
you should compare it against gbtc if
[957]
you're one of them but
[958]
you know i don't think you're wrong and
[960]
i think there's optionality just
[961]
be prepared for you to not i think it
[964]
just has a worse risk reward profile
[966]
than bitcoin itself so as long as you're
[968]
okay with that
[969]
as long as you're okay with like 5x
[970]
upside if bitcoin goes like 7x upside
[974]
and but you have the optionality of
[975]
brian armstrong the ceo
[977]
and them creating some cool value
[980]
you know i think that you're giving up
[981]
some upside for optionality
[984]
that this company like developed some
[985]
really cool yeah
[987]
i think that uh i just have to believe
[990]
somewhere down the line
[991]
the brian and i are cousins i have to
[992]
believe it on some level i don't know
[994]
how we're not
[995]
we have to be i mean we have the same
[997]
last name we're both into crypto
[999]
uh we both use coinbase the first year
[1000]
it was around and both of our first
[1002]
names start with b
[1003]
i mean it it has to be obviously
[1006]
uh relation there uh but yeah so i think
[1008]
like for me
[1009]
personally every single thing i
[1012]
invest in isn't from a pure like it's a
[1014]
great investment
[1016]
decision like i like to support stuff
[1017]
and so for me
[1019]
like owning some coinbase stock i think
[1022]
would just be like it's a way for me to
[1023]
support them and be cool
[1024]
i always love coinbase i've never you
[1026]
know i don't have a lot of problems with
[1027]
them like a lot of people
[1028]
do so um and i just like i said in the
[1031]
back of my mind i got to think somewhere
[1032]
at a family reunion i'm going to see
[1034]
brian or i'm going to be like dang
[1036]
i knew it that's why it's awesome i know
[1038]
i'm rooting for that
[1039]
yeah we're in for it uh all right justin
[1041]
well thanks for coming on the show today
[1043]
as always it's been wonderful uh we got
[1045]
a a good video for you guys
[1046]
next week uh we're gonna be talking
[1048]
about top crypto stock so excited to to
[1050]
do that as well
[1051]
justin anything you want to leave us
[1052]
with today no definitely uh this was fun
[1054]
and if you want to know about more about
[1056]
coinbase i did three videos in a row i
[1057]
think i'm gonna
[1058]
leave that one there on my channel at a
[1060]
couple cents on youtube and other than
[1062]
that see you guys next week
[1064]
yeah that's it alright guys drop some
[1065]
comments down below let us know what are
[1067]
your thoughts on dogecoin
[1068]
and are you gonna buy some coinbase
[1070]
stock or maybe you already have
[1071]
drop those down below that's all i got
[1073]
be blessed
[1094]
you
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