Coinbase (COIN) might be on the way to joining the world’s most valuable companies – at least, that is the view of Matt Hougan, Chief Investment Officer at Bitwise. In his latest post, he picked Coinbase as the number one company under $100 billion in market cap that has the best chance of hitting the $1 trillion capitalization milestone.
This month, Coinbase will become the first crypto-native company ever included in the S&P 500, the most important stock market index in the U.S. Starting May 19, it will take the place of Discover Financial, which is merging with Capital One.
After the announcement, COIN stock jumped 7% in after-hours trading. The rally has continued into the current session; as of May 13, Coinbase shares are trading at $246.36, up 18.88% from the previous close.
Getting into the S&P 500 is not just a technical adjustment. It is a signal that Coinbase is now seen as one of the most important public companies in the U.S., with real staying power. If Hougan is right, this could be just the beginning.
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If Coinbase ever does reach a $1 trillion valuation, it would stand alongside companies like Meta, Nvidia, Amazon and Alphabet — the top tier of U.S. tech and innovation giants that define the current market era.
Source: https://u.today/coinbase-to-1-trillion-bitwise-cio-issues-epic-coin-prediction
