With Bitcoin prices fluctuating around $68,356 after a sharp decline, Coinbase is reacting by repurchasing approximately 8 million shares, leading to a 16% stock boost. However, the exchange's stock remains down 36% over the past year amid broader market challenges. As Coinbase projects up to $630 million in subscription revenue, it is increasing investment in technology and marketing, but analysts warn that its stock price is likely to remain pressured until Bitcoin stabilizes.
“Bitcoin · is viewed as · hedge against debasement · true”
“Bitcoin supply · is capped at · 21 million coins · true”
“Google searches for 'Bitcoin' · hit · an all-time high · true”
“Bitcoin · surged past · $110,000 · true”
“Bitcoin · is hovering around · $67,000 · true”
“Bitcoin (BTC) · rose · 1.3% · true”
“Coinbase · announced it had bought back · about 8 million shares · in the previous quarters”
“Coinbase stock · went up · 16% · on the news of the buyback”
“Coinbase · operates · a cryptocurrency exchange”
“COIN · is down · 36% · over the last 12 months”
“COIN50 Index · is down · 34.6% · during the same period”
“Coinbase · looks overvalued · considering its forward price-to-earnings ratio · 37.87x”
