$COIN

Does he own it?

He rotated into crypto names during a selloff and listed Coinbase among his buys at around $197, then published a portfolio breakdown putting Coinbase at 5% within a 25% digital-asset sleeve. These are explicit first-person buying and sizing disclosures, not just coverage.

His thesis

Initially a value-oriented Buy: after a sharp crypto correction he saw Coinbase as reasonably priced, liking its infrastructure role for institutional ETFs and USDC revenue sharing more than its core exchange business. He framed stablecoins and crypto rails as a long-term disruptor of card networks. Over time his tone soured politically, accusing Coinbase of selling out the industry after securing a banking charter, but he still viewed valuations as compelling for swing trading.

How his view evolved

Started as a value Buy and a sized 5% holding bought into the selloff, then shifted toward frustration and criticism over its regulatory stance, while still seeing it as a tradable name on weakness.

Key points

• Explicitly bought during a crypto selloff and disclosed a 5% portfolio weight
• Bull case rests on institutional ETF infrastructure and USDC revenue sharing, not the exchange
• Later turned critical of its regulatory/political behavior but still saw swing-trade value

Derived from a holistic read of his public posts — paraphrased, never quoted. See his actual posts about $COIN on X ↗