Billionaire Michael Platt’s 10 Stock Picks with Huge Upside Potential

6. Coinbase Global, Inc. (NASDAQ:COIN)

BlueCrest Capital Management’s Q4 Stake: $2.06 million

Upside Potential as of April 29: 35.60%

Number of Hedge Fund Holders: 69

Coinbase Global, Inc. (NASDAQ:COIN) is a financial infrastructure and technology provider serving the global crypto industry. Its offerings include a consumer financial platform, a marketplace for corporations and institutions that trade crypto, and technology solutions that enable developers to create cryptocurrency-based apps and securely accept cryptocurrency payments.

Coinbase Global, Inc. (NASDAQ:COIN) showed impressive financial success in 2024, with total revenue reaching $6.6 billion and adjusted EBITDA achieving $3.3 billion, marking the company’s second consecutive year of positive EBITDA. The company’s subscription and services revenue jumped by 64% year-over-year to $2.3 billion, boosted by USDC stablecoin, staking, and Coinbase One services.

On April 23, Benchmark launched coverage of Coinbase Global (NASDAQ:COIN) Inc with a Buy rating and a $252 price target, citing the company’s dominant position in the US market. It also noted the potential benefits of a “soon-to-improve environment for crypto” fueled by regulatory assurance and institutional demand. The firm forecasts a 21% revenue CAGR through 2026, with non-trading subscription and services revenue expanding by around 36% annually.