Coinbase IPO：投資者坐雲霄飛車，加密貨幣劇烈波動

自 2021 年 IPO 以來，Coinbase 的股價一直波動較大，較開盤價和收盤價大幅下跌。截至目前，最初 1,000 美元的投資價值約為 572.39 美元，下降了 42.76%。同時，以標準普爾500指數為代表的大盤表現較好，漲幅和股息殖利率貢獻為21.40%。比特幣和其他加密貨幣從近期低點回升引發了投資者的樂觀情緒，並引發了人們對 Coinbase 等加密貨幣交易所未來的疑問。

Coinbase IPO: A Rollercoaster Ride for Investors

Coinbase IPO：投資者的過山車之旅

Coinbase's stock has mirrored the volatility of the cryptocurrencies it facilitates for its investors. Embracing the "HODL" (holding on for dear life) mantra has become commonplace among crypto enthusiasts as they navigate the market's sharp descents.

Coinbase 的股票反映了它為投資者提供的加密貨幣的波動性。當加密貨幣愛好者應對市場的急劇下跌時，擁抱「HODL」（為親愛的生命而堅持）的口號已經變得司空見慣。

Upon its initial public offering (IPO) on April 14, 2021, Coinbase was met with thunderous applause. The market exuded euphoria, perceiving it as a milestone in the crypto industry's maturation.

2021 年 4 月 14 日首次公開募股 (IPO) 後，Coinbase 獲得了雷鳴般的掌聲。市場洋溢著喜悅之情，將其視為加密產業成熟的里程碑。

Today, after three tumultuous years, let's delve into the fate of a $1,000 investment in Coinbase stock (COIN).

今天，在經歷了三年的動盪之後，讓我們深入探討投資 1,000 美元的 Coinbase 股票 (COIN) 的命運。

Opening Splendor and Subsequent Descent

開啟的輝煌與隨後的沉淪

Coinbase entered the IPO with a reference price of $250. However, the stock surged significantly on its opening day, reaching a high of $429.54 before settling at $328.28.

Coinbase以250美元的參考價進入IPO。然而，該股開盤當天大幅飆升，最高達到 429.54 美元，隨後收於 328.28 美元。

Fast forward to the present, COIN trades at $218.08, a 42.76% plunge from its opening price and a 33.57% decline from its closing price on day one.

快轉到現在，COIN 的交易價格為 218.08 美元，較開盤價下跌 42.76%，較第一天收盤價下跌 33.57%。

Your $1,000 Investment Today

您今天的 1,000 美元投資

If you had invested $1,000 in COIN stock at the opening bell, you would now hold 2.62 shares. These shares, as of this writing, are worth $572.39.

如果您在開盤時投資了 1,000 美元 COIN 股票，那麼您現在將持有 2.62 股。截至撰寫本文時，這些股票價值 572.39 美元。

S&P 500 Comparison

標普 500 指數比較

Let's compare Coinbase's performance to the broader stock market, represented by the S&P 500 index fund (SPY).

讓我們將 Coinbase 的表現與以標準普爾 500 指數基金 (SPY) 為代表的更廣泛的股票市場進行比較。

SPY closed on April 14, 2021, at $411.45. Today, it trades at $499.52, reflecting a gain of 21.40% over approximately three years, translating to an average annual growth rate of around 7.1%.

SPY 於 2021 年 4 月 14 日收盤於 411.45 美元。如今，其交易價格為 499.52 美元，大約三年內上漲了 21.40%，相當於年均成長率約為 7.1%。

Dividend Difference

股利差

Adding to the pain for Coinbase investors, SPY pays a dividend. Its yield has ranged between 1.24% and 1.64%, bringing the total average annual return for SPY to around 8.5% during the three years since Coinbase's IPO.

SPY 支付股息，這讓 Coinbase 投資者更加痛苦。其收益率介於 1.24% 至 1.64% 之間，使 Coinbase IPO 以來三年內 SPY 的年平均總回報率達到 8.5% 左右。

Crypto Winter's Thaw

加密冬天的解凍

After a brutal 2021 and 2022, cryptocurrencies have experienced a resurgence. During Coinbase's IPO, Bitcoin reached a daily high of $64,863. By November 2022, it had plummeted to $15,788.

在經歷了殘酷的 2021 年和 2022 年之後，加密貨幣經歷了復甦。在 Coinbase 首次公開募股期間，比特幣觸及每日高點 64,863 美元。到 2022 年 11 月，它已暴跌至 15,788 美元。

However, in the 18 months since then, Bitcoin and other cryptocurrencies have not only recovered, but have thrived. Today, Bitcoin trades around $65,235, with other major coins such as Ether mirroring its surge.

然而，在接下來的 18 個月裡，比特幣和其他加密貨幣不僅復甦，而且蓬勃發展。如今，比特幣的交易價格約為 65,235 美元，以太坊等其他主要代幣的價格也隨之飆升。

Regulatory Uncertainty

監管的不確定性

With the SEC's approval of cryptocurrency ETFs, many investors believe the regulatory landscape has improved. However, the future trajectory of cryptocurrencies and exchanges like Coinbase remains uncertain.

隨著美國證券交易委員會批准加密貨幣 ETF，許多投資者認為監管環境已經改善。然而，加密貨幣和 Coinbase 等交易所的未來發展軌跡仍不確定。

In conclusion, a $1,000 investment in Coinbase stock at its IPO would be worth $572.39 today, representing a significant loss compared to the S&P 500's performance and including the absence of dividends. The crypto market's volatility and regulatory uncertainties continue to cast a shadow over Coinbase's future prospects.

總而言之，在 Coinbase 首次公開募股時投資 1,000 美元，今天的價值為 572.39 美元，與標準普爾 500 指數的表現（包括沒有股息）相比，這是一個巨大的損失。加密市場的波動性和監管的不確定性繼續為 Coinbase 的未來前景蒙上陰影。