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The post Berenberg Prefers MicroStrategy over Coinbase Due to SEC Risks appeared first on Coinpedia Fintech News
According to Berenberg analyst Mark Palmer, Coinbase may face action from the SEC after receiving a Wells notice in March. To counter uncertainty, Palmer suggests investing in MicroStrategy instead, which has seen a 36% increase while Coinbase has declined by 6% in the past year. Both companies were affected by the recent dip in Bitcoin, which dropped 1.5% to below $27,000 in New York. Palmer rates MicroStrategy as a buy with a price target of $430, highlighting its unique BTC-focused business model. The SEC views BTC as a commodity and considers most cryptocurrencies as unregistered.
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