Coinbase Risk Makes MicroStrategy Better Bet, Says Berenberg (1)

MicroStrategy Inc., a software maker that’s better-known for being the largest public holder of Bitcoin, looks like a stronger bet for investors to make when compared to cryptocurrency-trading platform Coinbase Global Inc.

That’s according to Berenberg Capital Markets analyst Mark Palmer, who believes that the US Securities and Exchange Commission will likely file an enforcement action against the trading platform after the regulator sent it a Wells notice in March.

“Given the heightened uncertainty that Coinbase faces, we believe investors would be much better served investing in shares of MicroStrategy,” Palmer wrote in his initiation note on Coinbase. ...