Coinbase could reach $1 trillion valuation, Tapiero says

1 min read Updated on 23 Jun 2026, 10:49 PM

Reviewed by

Radhika SScanX News Team

AI Summary

Dan Tapero forecasts Coinbase Global could reach a $1 trillion valuation, driven by the expansion of the digital asset economy and stablecoin income. He projects the digital asset economy could hit $50 trillion in a decade. Despite Coinbase's $305 million in stablecoin revenue last quarter, the company faces growing competition from Robinhood Markets, Charles Schwab, and Morgan Stanley. Meanwhile, prediction markets indicate potential short-term volatility for Bitcoin.

*this image is generated using AI for illustrative purposes only.

Dan Tapiero, founder of 50T Funds, predicts Coinbase Global (NASDAQ: COIN) will one day be worth $1 trillion, a generational winner he compares to Microsoft (NASDAQ: MSFT). This represents a climb of more than 20 times from the stock's current trading level. Tapiero laid out this case on the “When Shift Happens” podcast, emphasizing his preference for equity in crypto companies over the tokens they issue due to legal protections for equity holders.

Tapero models the entire digital asset economy reaching $50 trillion within a decade, with roughly $20 trillion in crypto equity. He expects the number of significant public crypto companies to grow from 10 to 50 or 100, with Coinbase serving as the flagship. He argues this projection is conservative, citing the rapid growth of stablecoins to $33 trillion in annual transaction volume over five years and the potential for autonomous AI agents to settle payments on blockchains.

Coinbase is already capitalizing on this shift through its stablecoin revenue. The company earns interest on USDC held on its platform and splits the rest with Circle Internet Group (NYSE: CRCL). This stablecoin income generated $305 million for Coinbase in the last quarter.

However, competition for retail accounts is intensifying. Robinhood Markets (NASDAQ: HOOD) is competing in both crypto and event contracts, while traditional brokers are entering the space. Charles Schwab (NYSE: SCHW) began rolling out spot Bitcoin and Ethereum to retail investors this year, and Morgan Stanley (NYSE: MS) is adding crypto through E*Trade.

Prediction markets offer a contrasting view. Kalshi traders see a 24% chance that Base, Coinbase’s EVM chain, will release a token this year. On Polymarket, traders assign better than a 90% chance that Bitcoin (CRYPTO: BTC) sinks to $60,000 this year and a 56% chance it hits $50,000. Tapero describes Bitcoin as being in a “distribution” phase, suggesting a drop to $50,000 would likely mark the bottom.

How will Coinbase's revenue model evolve if stablecoin regulations tighten globally?

What impact will the entry of traditional brokers like Schwab and Morgan Stanley have on Coinbase's retail market share?

Could the launch of a Base token accelerate Coinbase's growth or invite regulatory scrutiny?

New Product Offerings

The event highlighted several key product launches designed to expand Coinbase's utility:

AI Advisor: A zero-fee investment advisor with knowledge of a customer's entire portfolio.
Tokenized Stocks: Fully on-chain stock ownership, backed 1:1 by the underlying stock, tradable on DeFi and transferable to other wallets.
Pre-IPO Perps: Offers exposure to companies before their IPO, targeting retail appetite ahead of an AI IPO wave.
Thematic Stock Indices: Four indices including AI10 (AI stocks), Defense10 (defense and aerospace), China10 (select Chinese equities), and Tech100 (100 US tech stocks).
Prediction Markets: Introduction of hundreds of new binary crypto markets and combos allowing multiple predictions in a single contract.

Analyst Perspectives

Analysts responded positively to the diversification efforts. Needham analyst John Todaro maintained a Buy rating with a price target of $220, noting that Coinbase is "pushing more into equities, options, AI and prediction markets." He suggested that continued diversification should blunt the company's revenue exposure to crypto.

BTIG analyst Andrew Harte reiterated a Buy rating and a price target of $280. Harte identified tokenized equities as the highlight of the event, stating that Coinbase is working on creating "a leading digital assets platform with real world utility." He also observed that crypto trading volumes had picked up in the first half of June.

Stock Performance and Availability

Despite the product launches, Coinbase shares experienced minor volatility. The stock fell 0.45% in after-hours trading after closing 0.21% lower at $169.27 during the regular session on Tuesday. At the time of publication on Wednesday, shares had risen by 0.21% to $169.63. According to Benzinga’s Edge Stock Rankings, COIN stock underperformed across short-, medium-, and long-term horizons with a very low Momentum score.

Coinbase has issued a caution regarding the AI tool, stating that outputs may be "inaccurate or incomplete" and warning users against relying on the advisor as the sole source of financial information.

How will Coinbase navigate regulatory hurdles to ensure tokenized stocks remain compliant across different jurisdictions?

What is the expected timeline for the rollout of the AI advisor, and how will Coinbase address concerns about its accuracy?

Will the introduction of Pre-IPO Perks attract significant retail interest, and how might this impact traditional IPO markets?