{"id":10013,"date":"2023-05-17T14:05:55","date_gmt":"2023-05-17T18:05:55","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/berenberg-investment-firm-analyst-sees-microstrategy-as-safer-bet-than-coinbase-due-to-sec-risk\/"},"modified":"2023-05-17T14:05:56","modified_gmt":"2023-05-17T18:05:56","slug":"berenberg-investment-firm-analyst-sees-microstrategy-as-safer-bet-than-coinbase-due-to-sec-risk","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=10013","title":{"rendered":"Berenberg Investment Firm Analyst Sees MicroStrategy as Safer Bet than Coinbase Due to SEC Risk"},"content":{"rendered":"
\n

An analyst at Berenberg investment firm believes MicroStrategy is now a safer bet compared to Coinbase due to the exchange’s regulatory issues.\u00a0<\/p>\n

Mark Palmer, an equity research analyst at Berenberg Capital Markets,\u00a0said\u00a0the US Securities and Exchange Commission will likely file an enforcement action against Coinbase as the commission increases its scrutiny of the crypto sector.\u00a0<\/p>\n

\u201cGiven the heightened uncertainty that Coinbase faces, we believe investors would be much better served investing in shares of MicroStrategy,\u201d the analyst reportedly wrote.<\/p>\n

Shares of MicroStrategy, a software maker better known for being the largest public holder of Bitcoin, have increased more than 90% YTD, compared to a 63% increase in Coinbase’s shares over the same period.\u00a0<\/p>\n

The strong performance comes on the back of Bitcoin\u2019s rebound in recent months. The flagship cryptocurrency has gained more than 60% YTD.<\/p>\n

According to Palmer, MicroStrategy is an \u201cattractive alternative\u201d to Coinbase given the regulatory pressures on the latter.\u00a0<\/p>\n

The analyst also noted that the SEC has identified\u00a0Bitcoin as a commodity\u00a0while claiming that the majority of other crypto assets are securities. This makes MicroStrategy, which is a major holder of Bitcoin, an appealing choice for investors.\u00a0<\/p>\n

\n

\u201cThe SEC has characterized bitcoin as a commodity while asserting that most (if not all) other crypto tokens are unregistered securities, putting bitcoin and MSTR in advantaged positions amidst the regulatory onslaught.”<\/p>\n<\/blockquote>\n

Palmer said the enforcement actions against crypto exchanges\u00a0Kraken\u00a0and\u00a0Bittrex, as well as crypto lending platform\u00a0Nexo, could be a preview of the SEC’s approach to Coinbase.<\/p>\n

\n

\u201cWe believe investors should be focusing on whether the company would have the ability to successfully pivot its business model and geographic focus if it were forced to curtail or cease a large portion of its activities in the US.”<\/p>\n<\/blockquote>\n

SEC-Coinbase Relationship Continues to Deteriorate<\/h2>\n

The SEC has been in a legal battle with Coinbase as of late.<\/p>\n

Back in March, the commission sent a \u201cWells notice\u201d to Coinbase, threatening the crypto exchange with legal actions regarding some of its listed digital assets, its staking service Coinbase Earn, Coinbase Prime, and Coinbase Wallet.\u00a0<\/p>\n

In response, Coinbase CEO Brian Armstrong accused the agency of engaging in \u201csome really sketchy behavior.\u201d<\/p>\n

The exchange also\u00a0filed a lawsuit\u00a0with a federal appellate court in Philadelphia last month, alleging that “the SEC refuses to address Coinbase\u2019s rulemaking petition” even as the agency aims to initiate enforcement actions against the firm for listing unregistered securities.<\/p>\n

However, the commission has\u00a0asked a judge\u00a0to reject Coinbase\u2019s request to compel the commission to respond to the rule-making petition.\u00a0<\/p>\n

It is worth noting that Armstrong has suggested that the exchange could leave the US if regulators don’t clarify their approach to the digital asset space.\u00a0<\/p>\n

“Anything is on the table, including relocating or whatever is necessary,” he\u00a0said\u00a0during the Innovate Finance Global Summit last month.<\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

An analyst at Berenberg investment firm believes MicroStrategy is now a safer bet compared to Coinbase due to the exchange’s regulatory issues.\u00a0 Mark Palmer, an equity research analyst at Berenberg Capital Markets,\u00a0said\u00a0the US Securities and Exchange Commission will likely file an enforcement action against Coinbase as the commission increases its scrutiny of the crypto sector.\u00a0 […]<\/p>\n","protected":false},"author":1,"featured_media":10014,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-10013","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"\nBerenberg Investment Firm Analyst Sees MicroStrategy as Safer Bet than Coinbase Due to SEC Risk | iFintechWorld<\/title>\n<meta name=\"description\" content=\"An analyst at Berenberg investment firm believes MicroStrategy 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