Katherine Wu Says Coinbase In Q3 Shareholder Published 52M Who Own Crypto; Number Goes Higher As You Go Younger
Portfolio Pulse from Benzinga Newsdesk
Katherine Wu, a shareholder in Coinbase, revealed during the Q3 shareholder meeting that 52 million people own cryptocurrency, with ownership rates increasing among younger demographics.
November 14, 2023 | 3:17 pm
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Coinbase's reported 52 million crypto owners in Q3 could indicate a strong user base and potential for increased revenue, particularly from younger users.
The reported number of crypto owners is a direct reflection of Coinbase's market reach and potential customer base. As the number of people owning cryptocurrency increases, particularly among younger demographics who may be more tech-savvy and open to investing in digital assets, Coinbase could see a rise in platform usage. This could lead to higher transaction volumes and fees, which are primary revenue sources for the company. The positive sentiment around adoption rates could also boost investor confidence in the short term.
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