Guess who just got back today, Them wild-eyed bulls that'd been away
Haven't changed, but cracked fifty-K But man, I still think them bears are crazy
They were thinkin you wouldn’t rebound How you was, where you was going down
Told 'em you were livin' lockeddown Drivin' that man Peter Shciff Crazy…
The bulls are back in town (The bullls are back in town)
I said the bulls are back in town (The bulls are back in town)
You know our Thin BTCizzy, it’s time for Chico Crypto!
The bulls are back?
Bitcoin has officially crossed 50k, and yesterday was looking to make it’s next leg up, touching
55k as of shooting this video.
So why the sudden change of heart for king crypto asset?
Last week it was bearish?
Well was it becasue Coinbase Pro decided to add some assets, one of which we called over
the live stream this weekend, maitc now Polygon..Now that cant’ be it...
It’s because Coinbase is about to offer itself to the public.
Spread eagle offering...
A public one on the nasdaq stonk market, a first for nasdaq...a direct listing!
Bloomberg came out with a very telling article 2 days ago titled “Coinbase Is Said to Be
Valued at $90 Billion in Private Auction”...
Yes, there has been private trading of Coinbase stock pre-ipo.
This was for Nasdaq homies & Coinbase employees or investors.
They were all under NDA, they coudn’t speak of how this was operating very far.
As we can see from the article, it says “That valuation (of $90 billion) is based on $350
a share, the price the stock was trading at on the Nasdaq Private Market auction that
ended last Thursday, the people said, asking not to be identified because the information
was private.
But those private people who spoke to Bloomberg also said this “Thursday’s auction was
the last time shares are being sold on the Nasdaq Private Market before Coinbase goes
public in late March”
There it is...Coinbase is going public in March, late to be exact.
That may be the reason the markets have started moving, anticipation for the IPO….but Chico
thinks there may be some surprises coming with this IPO & the Bloomberg article led
me to thinking that.
At the very end they said “ Owners of Coinbase’s Class A common stock will be allowed to sell
in the listing and won’t be subject to lock-up agreements.
Class A stock carries one vote per share, while Class B has 20, according to the filing.”
There are 2 types of stock with Coinbase, the Class A & Class B. The question is this.
Is one of them tokenized???
Well let’s dive into their S-1 and see the differences between the 2 stock options.
The document states “We have two classes of common stock, Class A common stock and
Class B common stock.
The rights of the holders of Class A common stock and Class B common stock are identical,
except with respect to voting and conversion rights.
Each share of Class A common stock is entitled to one vote.
Each share of Class B common stock is entitled to twenty votes and is convertible at any
time into one share of Class A common stock.
Prior to any sales of shares of Class A common stock, a registered stockholder who holds
Class B common stock must convert their shares of Class B common stock into shares of Class
A common stock.
So there it is, the Public get’s Class A common stock which will have the ticker $COIN...while
investors & employees are receiving majority the class B stock which can be converted into
Class A common stock for sale.
It’s a dual stock structure...I wonder why?
Am I looking to deep into things...or is there a possibility this Class B share is tokenized
or in the works to be tokenized??
Well just look into where these shares have been trading pre-IPO.
The bloomberg article says it was a Nasdaq private market auction.
Let’s just go to the wikipedia on Nasdaq private markets...who is the Key Person?
Barry Silbert, who is the founder of it, chairman and former CEO…
Barry Silbert?
The Bitcoin Barry Silbert who is now the founder of Digital Currency Group and Grayscale Investments?
Well going back to their wikipedia, Nasdaq private markets is involved with Bitcoin...it
says “The Bitcoin Investment Trust (BIT) is a private, open-ended trust that derives
its value solely from the price of bitcoin.
The NASDAQ Private Market acts as the custodian and the trust is audited by Ernst & Young.The
trust is managed through a subsidiary of SecondMarket, which is the Digital Currency Group and Grayscale.
Nasdaq private markets was founded and still has ties to one of the largest institutional
names in Crypto.
But you wan’t another hint that Class B could be tokenized?
The wikipedia also says the private markets products.
Number 1 is marketplace services.
What did Nasdaq private markets annonce during the summer of last year?
Their Marketplace Services Platform & Complementing the rollout is the Nasdaq Digital Assets Suite.
Nasdaq is working with Digital Asset, R3, and Symbiont to deliver technology through
the Marketplace Services Platform to meet the diverse needs and unique models of tokenized
and digital assets marketplaces from cryptocurrency to real estate and other areas.
Other areas like tokenized securities of Class B coinbase stonk??
Well what does one of the partners do??
Symbiont??
Going to their website, they deliver smart securities in the form of tokenized alternative
assets.
And look at those partners, of course Nasdaq...but also Citi aka Citigroup...going back to Coinbase’s
s-1...it says in the document “The price determined by Nasdaq after consultation with
Goldman Sachs, J.P. Morgan, and Citigroup….
Those large financial entities are the advisors.
Citigroup is tied to Symbiont...how about Goldman Sachs?
Well not listed as a partner….goldman or JP Morgan, but they are tied to symbiont through
multiple avenues.
Vanguard #1...Vanguard owns nearly 8 percent of JP Morgan according to Fintel and nearly
7 and a half percent of Goldman Sachs.
State Street #2...as we can see from holdings of state street, both jp morgan and goldman
hav their hats in the ring.
But scrolling up to state streets #1 holder...it’s vanguard!
So, the question that comes to my mind is, why in the heck are all of Coinbase’s IPO
advisors involved in some form with Symbioint whose focus is on the tokenization of securities??
Now it’s time to finish this episode off with a little prediction for the coming up
month, with the possible scenarios.
We get the official announcement of the IPO from Nasdaq & Coinbase within the next week,
personally I think that could get BTC price pushing up towards 60k.
And it’s just a basic direct listing IPO, involving no avenues of tokenization...there
will still be much Hype with this, no doubt about it & by the end of March when the IPO
goes live, I could see BTC nearing 70k...but around there is where it stops during and
post IPO, maybe getting to $75k peak.
Or we get the announcement of tokenization, of course not Class A, the COIN shares traded
publicly, but those Class B shares reserved for accredited investors, employees, and executives.
This is the news that would allow the break of $75k…
So tokenization or not...the markets will begin to rumble due to the biggest financial
IPO of this century.
But Coinbase COIN will be the first time crypto has transitioned into the world of finance
1.0, and I’m Hodling on hope that their Class B stonk will be the first time finance
1.0 has transitioned over to the world crypto….