Coinbase Stock Surges as Cathie Wood and John Deaton See It as Wall Street’s Next Blue Chip

Coinbase (COIN) soared past $350 for the first time since early 2022, closing the week with a 14.6% gain and sparking renewed investor excitement. The crypto exchange's stock has rallied nearly 100% in the past two months, backed by strong momentum, bullish volume, and a growing narrative that it's no longer just a crypto trading platform — it’s positioning itself as a serious player in traditional finance.

Cathie Wood, CEO of ARK Invest and long-time Coinbase supporter, reignited the buzz by suggesting that Bitcoin holders might soon use Coinbase to collateralize their crypto for real-world loans like mortgages. The concept could be revolutionary, enabling users locked out of legacy financial systems to leverage on-chain wealth through a regulated U.S. platform.

Adding fuel to the fire, pro-Ripple lawyer John Deaton echoed Wood’s sentiment, calling Coinbase a “must-have blue chip stock” and comparing it to legacy giants such as Goldman Sachs, JPMorgan, and American Express. He emphasized that Coinbase is now more than just a crypto exchange — it's becoming part of Wall Street’s inner circle.

Behind the headlines is a chart that confirms the narrative. June’s weekly candles have gone vertical, showing breakout patterns and sustained strength. Coinbase CEO Brian Armstrong recently stated that the company is actively buying Bitcoin every week, reinforcing its commitment to the crypto economy.

If Coinbase succeeds in bridging digital assets with traditional finance — offering credit, loans, and custodial services backed by crypto — it could transform the industry. Instead of just joining the ranks of financial elites, it may redefine what a modern financial institution looks like in the age of digital assets.