If one wanted to jump on the bitcoin bandwagon and go for a ride, would you pick COIN or GLXY? A brief explanation as to why would he appreciated.
Thank you
Dave
COIN is much larger than GLXY ($44B market cap vs. $2.9B, respectively), and it is also more widely recognized than GLXY. Coinbase has introduced its own blockchain/'Layer 2' platform based on Ethereum which can see broader adoption in an environment with increased interest in crypto, and it will benefit from higher trading fees in a 'risk-on' setting. GLXY benefits from its bitcoin mining operations, its own trading desk, passive fees from its ETFs, as well as institutional adoption. For a more conservative approach with slightly more stability, we would prefer COIN, however, for a higher return potential and upside volatility, we would prefer GLXY.
Authors of this answer, directors, partners and/or officers of 5i Research and/or affiliated companies have a financial or other interest in COIN.