艾里森將 PayPal 和 Coinbase 吹捧為金融科技革命者，挑戰華爾街銀行

著名投資者拉里·埃里森 (Larry Ellison) 的投資組合中同時持有 PayPal 和 Coinbase。他認為PayPal將受益於行動支付的轉變，而Coinbase的加密貨幣機構交易業務則提供穩定的費用收入。儘管擔心競爭加劇，艾里森仍將 PayPal 視為潛在有利可圖的投資，因為其估值適中，且在金融科技產業中具有持續成長的潛力。

PayPal and Coinbase: Unlocking the Digital Payments Revolution

PayPal 和 Coinbase：開啟數位支付革命

Larry Ellison, the renowned co-founder of Oracle Corporation, has expressed his unwavering confidence in the digital payments sector and its potential to transform the financial landscape. In an interview with Barron's, Ellison elucidated his bullish outlook on PayPal, the venerable payment platform, and Coinbase, a prominent cryptocurrency exchange.

甲骨文公司著名聯合創始人拉里·埃里森表達了他對數位支付領域及其改變金融格局的潛力的堅定信心。在接受《巴倫周刊》採訪時，艾里森闡述了他對久負盛名的支付平台 PayPal 和著名加密貨幣交易所 Coinbase 的看好前景。

PayPal: Embracing the Shift to Mobile Payments

PayPal：擁抱向行動支付的轉變

Ellison, who has been a long-time shareholder in PayPal, maintains an optimistic view of the company's future. He believes that PayPal's consistent performance and resilience amidst market fluctuations have positioned it as a leader in the burgeoning mobile payments industry.

艾里森一直是PayPal的長期股東，他對該公司的未來保持樂觀態度。他認為，PayPal 在市場波動中的穩定表現和韌性使其成為新興行動支付產業的領導者。

As consumers increasingly shift away from traditional financial products offered by banks and credit-card companies, Ellison anticipates that digital-payments companies like PayPal will continue to reap the benefits. This trend, coupled with the rise of fintech businesses, has created a fertile environment for PayPal's growth.

隨著消費者越來越多地放棄銀行和信用卡公司提供的傳統金融產品，艾里森預計 PayPal 等數位支付公司將繼續受益。這一趨勢，加上金融科技業務的興起，為PayPal的成長創造了肥沃的環境。

Coinbase: The Nasdaq for Cryptocurrencies

Coinbase：加密貨幣的納斯達克

Ellison expressed his admiration for Coinbase, highlighting its institutional exchange business as a catalyst for its profitability. He likened Coinbase's operations to that of the Nasdaq for cryptocurrencies, generating a steady stream of fee income from the trading of Bitcoin and other prominent cryptocurrencies.

艾里森表達了對Coinbase的欽佩，強調其機構交易所業務是其獲利的催化劑。他將 Coinbase 的業務比作加密貨幣的納斯達克，透過比特幣和其他知名加密貨幣的交易產生穩定的費用收入。

Coinbase's recent quarterly profit, driven by the resurgence in Bitcoin prices, has solidified Ellison's belief in its long-term viability. Despite the recent surge in its share price, he emphasized that Coinbase remains a formidable competitor within the crypto ecosystem.

在比特幣價格回升的推動下，Coinbase 最近的季度利潤堅定了艾里森對其長期生存能力的信念。儘管最近股價飆升，但他強調 Coinbase 仍然是加密生態系統中強大的競爭對手。

PayPal vs. Coinbase: Diversifying the Digital Payments Landscape

PayPal 與 Coinbase：數位支付格局多元化

Ellison acknowledged the recent challenges faced by PayPal, particularly in light of growth concerns. However, he believes that PayPal's relatively modest valuation, compared to high-flying fintech stocks, presents an attractive opportunity for investors.

艾里森承認貝寶最近面臨的挑戰，特別是考慮到成長問題。不過，他認為，與快速發展的金融科技股相比，PayPal 的估值相對適中，這對投資者來說是一個有吸引力的機會。

In contrast, Ellison acknowledged that Coinbase's inflated valuation might warrant caution. Nonetheless, he maintained his conviction in both companies and the broader fintech industry. He sees their success as a reflection of the ongoing disruption within the traditional financial services sector.

相比之下，艾里森承認 Coinbase 估值過高可能值得謹慎對待。儘管如此，他仍然對這兩家公司和更廣泛的金融科技產業抱持信心。他認為它們的成功反映了傳統金融服務業的持續顛覆。

The Demise of Banks: Fintechs on the Rise

銀行的消亡：金融科技的崛起

Ellison asserted that the traditional banking industry is witnessing a gradual erosion of its customer base, attributed to the rise of fintech companies. PayPal and Coinbase, in particular, are seen as major players in this shift, actively capturing market share from banks.

艾里森聲稱，由於金融科技公司的崛起，傳統銀行業的客戶群正逐漸受到侵蝕。 PayPal 和 Coinbase 尤其被視為這項轉變的主要參與者，積極從銀行手中奪取市場份額。

Wall Street analysts largely concur with Ellison's assessment. The consensus price target for Coinbase, as per FactSet, remains below its current market value, suggesting that its potential upside may be limited. PayPal, on the other hand, presents a more favorable investment opportunity, with a target price indicating a potential 10% premium.

華爾街分析師基本上同意艾里森的評估。根據 FactSet，Coinbase 的共識價格目標仍低於其當前市場價值，這表明其潛在上漲空間可能有限。另一方面，PayPal 提供了更有利的投資機會，目標價表明潛在的 10% 溢價。

Ellison's Enduring Optimism

艾里森持久的樂觀態度

Despite his substantial investments in traditional banks, Ellison remains steadfast in his belief in the disruptive power of fintech companies. He views PayPal and Coinbase as proxies for the ongoing shift in consumer behavior towards digital payments and alternative financial services.

儘管艾里森對傳統銀行進行了大量投資，但他仍然堅信金融科技公司的顛覆力量。他將 PayPal 和 Coinbase 視為消費者行為向數位支付和替代金融服務持續轉變的代表。

Ellison concluded the interview by emphasizing the transformative potential of the financial system as it evolves beyond the traditional banking sector. He believes that PayPal and Coinbase, with their customer-centric approach and innovative products, are well-positioned to capitalize on this seismic shift.

艾里森在結束訪談時強調了金融體系在超越傳統銀行業的發展過程中所具有的變革潛力。他認為，PayPal 和 Coinbase 憑藉以客戶為中心的方法和創新產品，處於有利位置，可以利用這一巨大轉變。