埃里森将 PayPal 和 Coinbase 吹捧为金融科技革命者，挑战华尔街银行

著名投资者拉里·埃里森 (Larry Ellison) 的投资组合中同时持有 PayPal 和 Coinbase。他认为PayPal将受益于移动支付的转变，而Coinbase的加密货币机构交易业务则提供稳定的费用收入。尽管担心竞争加剧，埃里森仍将 PayPal 视为一项潜在有利可图的投资，因为其估值适中，且在金融科技行业具有持续增长的潜力。

PayPal and Coinbase: Unlocking the Digital Payments Revolution

PayPal 和 Coinbase：开启数字支付革命

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.

甲骨文公司著名联合创始人拉里·埃里森表达了他对数字支付领域及其改变金融格局的潜力的坚定信心。在接受《巴伦周刊》采访时，埃里森阐述了他对久负盛名的支付平台 PayPal 和著名加密货币交易所 Coinbase 的看好前景。

PayPal: Embracing the Shift to Mobile Payments

PayPal：拥抱向移动支付的转变

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.

埃里森一直是PayPal的长期股东，他对该公司的未来保持乐观态度。他认为，PayPal 在市场波动中的稳定表现和韧性使其成为新兴移动支付行业的领导者。

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.

随着消费者越来越多地放弃银行和信用卡公司提供的传统金融产品，埃里森预计 PayPal 等数字支付公司将继续受益。这一趋势，加上金融科技业务的兴起，为PayPal的增长创造了肥沃的环境。

Coinbase: The Nasdaq for Cryptocurrencies

Coinbase：加密货币的纳斯达克

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.

埃里森表达了对Coinbase的钦佩，强调其机构交易所业务是其盈利的催化剂。他将 Coinbase 的业务比作加密货币的纳斯达克，通过比特币和其他知名加密货币的交易产生稳定的费用收入。

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.

在比特币价格回升的推动下，Coinbase 最近的季度利润坚定了埃里森对其长期生存能力的信念。尽管最近股价飙升，但他强调 Coinbase 仍然是加密生态系统中强大的竞争对手。

PayPal vs. Coinbase: Diversifying the Digital Payments Landscape

PayPal 与 Coinbase：数字支付格局多元化

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.

埃里森承认贝宝最近面临的挑战，特别是考虑到增长问题。不过，他认为，与飞速发展的金融科技股相比，PayPal 的估值相对适中，这对投资者来说是一个有吸引力的机会。

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，埃里森承认 Coinbase 估值过高可能值得谨慎对待。尽管如此，他仍然对这两家公司和更广泛的金融科技行业抱有信心。他认为它们的成功反映了传统金融服务行业的持续颠覆。

The Demise of Banks: Fintechs on the Rise

银行的消亡：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.

埃里森声称，由于金融科技公司的崛起，传统银行业的客户群正在逐渐受到侵蚀。 PayPal 和 Coinbase 尤其被视为这一转变的主要参与者，积极从银行手中夺取市场份额。

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.

华尔街分析师基本上同意埃里森的评估。根据 FactSet，Coinbase 的共识价格目标仍低于其当前市场价值，这表明其潜在上涨空间可能有限。另一方面，PayPal 提供了更有利的投资机会，其目标价表明潜在的 10% 溢价。

Ellison's Enduring Optimism

埃里森持久的乐观态度

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.

尽管埃里森对传统银行进行了大量投资，但他仍然坚信金融科技公司的颠覆力量。他将 PayPal 和 Coinbase 视为消费者行为向数字支付和替代金融服务持续转变的代表。

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.

埃里森在结束采访时强调了金融体系在超越传统银行业的发展过程中所具有的变革潜力。他认为，PayPal 和 Coinbase 凭借以客户为中心的方法和创新产品，处于有利位置，可以利用这一巨大转变。