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Bitcoin beats owning COIN stock by 20% since Coinbase IPO -Breaking

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© Reuters

To gain indirect exposure to the Coinbase (NASDAQ:), you can buy a Coinbase stockBTCThe ) Market strategy has proven to be a poor alternative to holding BTC.

COIN has fallen by almost 50% to $186. This is compared with the opening rate at its initial public offerings (IPO), on April 14th 2021. In comparison, Bitcoin outperformed the Coinbase stock by logging fewer losses in the same period — a little over 30% as it dropped from nearly $65,000 to around $41,700

(orange) vs. Price of COIN (blue). TradingView
COIN’s daily correlation to BTC Source: TradingView
The adjusted EBITDA margins of Coinbase. Source: JR Research