October 4th, 2023 | 08:05 CEST
Coinbase, Smartbroker Holding, MicroStrategy - Strong upward wave expected
No sooner does the world's largest cryptocurrency surpass the USD 28,000 mark than the bulls increasingly enter the market and announce gigantic price targets. In view of the upcoming halving in April next year, which will inevitably lead to a supply shortage, market experts assume a six-digit price level for bitcoin. Profiteers of the expected bull run include not only Bitcoin holders but also cryptocurrency exchanges and online brokers that facilitate trading on their platforms.
time to read: 3 minutes
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Author:
Stefan Feulner
ISIN:
Coinbase | US19260Q1076 , SMARTBROKER HOLDING AG | DE000A2GS609 , MICROSTRATEG.A NEW DL-001 | US5949724083
Table of contents:
Author
Stefan Feulner
The native Franconian has more than 20 years of stock exchange experience and a broadly diversified network.
He is passionate about analyzing a wide variety of business models and investigating new trends.
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Coinbase with new upward momentum
The crypto trading platform Coinbase has been volatile in recent months. After a rally that ran from the beginning of June to mid-July, resulting in a nearly 150% increase in the stock price, there was a correction that briefly pushed the stock back below the 61.8% Fibonacci retracement level at USD 72.41. The Americans were able to defend this level and started a new upward impulse, although with relatively weak trading volumes. In addition, the downward trend established since July was broken. The next target should now be the September interim high at USD 86.36. Should this be broken, the share could even target triple-digit price levels in the short term.
The current upward movement is accompanied by news regarding Coinbase's international expansion. The crypto exchange received a license as a payment service provider in Singapore, according to an official announcement. This development comes after the city-state's central bank granted the Company permission to operate as a "major payment institution." In order to obtain this license, Coinbase had to comply with Singapore's stringent anti-money laundering laws.
With the newly acquired license, Coinbase is now authorized to offer "digital payment token services" to both individuals and institutions. The Company praised Singapore's "progressive" regulatory attitude toward cryptocurrencies. This positive development for Coinbase comes after some difficulties in the US after the Company struggled with the crypto-skeptical Securities and Exchange Commission. In Singapore, on the other hand, a court has recognized cryptocurrencies as a form of money.
Smartbroker named "Neobroker" of the year
The successful launch at the end of August of Smartboker+, a next-generation trading platform including Android and iOS app, has opened up new revenue streams for Smartbroker Holding AG, which also operates the high-reach financial portals wallstreet-online.de, boersennews.de, ariva.de and finanznachrichten.de. Management revealed that the plan is to introduce trading in cryptocurrencies at the beginning of the new year.
Until then, the product range is to be successively expanded. In the next step, the new platform will be filled with foreign trading venues and a securities credit offering. Likewise, the product range is to be massively expanded to 1,100 ETF savings plans. In October, the move of existing Smartbroker customers to the new platform is scheduled. According to company sources, the legitimation of new Smartbroker+ customers was massively accelerated by the provision of the three procedures: PostIdent, E-Ident and VideoIdent. At the start, only the VideoIdent procedure was offered.
In contrast to the newly developed platform, the conditions for Smartbroker 2.0 will remain the same. The depot remains free of charge. In addition, about 850 ETF savings plans may be acquired without fees. In addition to 14,000 funds without an issue surcharge, securities trading will continue to be possible from EUR 0 via gettex and trading in around 1.5 million derivatives from EUR 0.
Speaking of price, at the German Certificate Award, the Company received the "Neobroker of the Year" award. However, Smartbroker+ only resembles a typical neobroker in terms of its comparably favorable conditions. In addition, Smartbroker+ offers the extensive product range of a full-service broker. Investors can expect news updates on the development stage on the occasion of the Annual General Meeting on October 17, 2023.
MicroStrategy with another acquisition
If, as expected by many Bitcoin bulls, there is another run-up that pushes the world's largest cryptocurrency beyond the USD 100,000 mark, one of the main beneficiaries is already certain: the software manufacturer MicroStrategy, founded in 1989 by Michael Saylor and Sanju Bansal. The US-based company's software is used worldwide by companies that want to analyze data quickly and securely to make data-driven decisions or develop mobile applications. Customers include Pfizer, Sony, Visa and the Hilton hotel chain, among others.
Since the beginning of the new decade, the Company's core business has increasingly receded into the background in the public perception. In contrast, the Company gained a reputation as the world's largest Bitcoin hodler. As of the end of September there were 158,245 Bitcoin in its portfolio, reflecting a current equivalent value of USD 4.43 billion. In contrast, the market capitalization is USD 4.64 billion, meaning the highly profitable software business is valued at nearly zero.
The latest transaction took place between August 1 and September 24. Here, another 5,445 bitcoin were collected at an equivalent value of USD 147.30 million. The average price was USD 27,053.
According to industry insiders' estimates, bitcoin will likely climb to new highs before halving in April next year. MicroStrategy, as the company with the largest bitcoin portfolio, as well as trading exchange Coinbase, should benefit significantly. Smartbroker+ is also expected to unlock crypto trading in the coming months. Before that, however, the migration from the old platform to the innovative Smartbroker+ platform is to take place.
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