Earn Your Leisure Podcast
Episode: Ranking the Top Crypto Stocks: Coinbase vs. IBIT vs. MicroStrategy
Release Date: December 20, 2025
Hosts: Rashad Bilal and Troy Millings (with Chris and Larry as guest contributors)
Podcast: iHeartPodcasts
Episode Overview
This episode dives deep into the top crypto-related stocks: Coinbase, IBIT (iShares Bitcoin ETF), and MicroStrategy. The hosts and guests discuss the strengths, weaknesses, and risks of each, ranking them while spotlighting current market dynamics and management risks. The conversation blends rigorous financial analysis with the podcast’s signature mix of accessible language and pop-culture vibes.
Key Discussion Points & Insights
1. Framing the Comparison (04:17–05:31)
- Overview of Each Stock:
- IBIT: Tracks the price of Bitcoin directly as an ETF.
- MicroStrategy: Holds massive Bitcoin reserves, acting almost like a Bitcoin holding (or proxy) company—termed “Bitcoin on steroids.”
- Coinbase: The leading crypto exchange platform, facilitating purchases, transactions, and storing of cryptocurrencies.
2. SWOT Analysis & Ranking Criteria (05:32–07:01)
-
Larry’s Take:
- Ordinarily, MicroStrategy would top the list if it weren’t for legal and management controversies surrounding Michael Saylor, which impose outsized risk.
- IBIT is solid but lacks the institutional clout of giants like Vanguard or BlackRock.
- Coinbase, due to stable leadership and risk management, is Larry’s current number one.
“If all things were fair, my list would be in a different order. But when you’re doing a SWOT analysis… the threat is until Michael Saylor is clear of the attack that he’s under, I have to put them last.”
– Larry [05:33]
3. Detailed Rankings & Rationale (11:14–13:16)
-
Larry’s Order: 1. Coinbase, 2. IBIT, 3. MicroStrategy—due to current risk environment.
-
Chris’s Counterpoint: IBIT’s connection to BlackRock (world’s largest asset manager) secures it as number one, above Coinbase, because:
- IBIT’s price moves directly with Bitcoin.
- Coinbase introduces more variables (platform performance, company-specific risks).
- MicroStrategy’s risk remains too high.
“I think that IBIT should be number one—backed by BlackRock, the largest asset manager in the history of human civilization…”
– Chris [12:13]“Theoretically Bitcoin can go up and Coinbase can go down... They're related to Bitcoin, but Bitcoin can have a blowout year and, theoretically, it doesn’t necessarily correlate...”
– Chris [12:52]
4. Bitcoin Primacy & Broader Crypto Exposure (13:16–13:53)
-
Debate over the definition of the “top crypto stock”—does it mean highest exposure to Bitcoin or to cryptocurrency broadly?
- Chris and Larry agree Bitcoin is the dominant, most trusted crypto asset.
- Chris notes he wouldn’t “put his life on the line” for any crypto but Bitcoin (and a respectful nod to Ethereum).
“I don’t really believe in any crypto outside of Bitcoin, to be completely honest with you about it. Ethereum, for sure. XRP... Solana is still yet to be proven—I would not put my life on the line for any cryptocurrency in the world other than [Bitcoin].”
– Chris [13:32]
5. Earnings, Revenue Models & Risk (13:53–16:54)
-
Coinbase: Revenue depends not just on crypto prices, but on trading volume, fees, and subscriptions—making results much more cyclical.
-
IBIT: Mechanically tracks Bitcoin’s price—fewer ancillary risks but also limited upside beyond Bitcoin’s growth.
-
MicroStrategy: Not just a stock, but a leveraged bet on Bitcoin, amplifying swings both up and down. Recent legal issues with Michael Saylor increase downside risk.
-
The hosts agree: For safety and clarity, IBIT is #1, Coinbase #2, and MicroStrategy a distant #3.
“A lot of people think if I invest in IBIT, I invest in Bitcoin—not really. Right? You’re investing in a fund and a trust that owns Bitcoin… there’s not as many leverages, hurdles you gotta get over.”
– Larry [13:53]
Final Rankings
- IBIT (iShares Bitcoin ETF)
- Most direct Bitcoin exposure, best risk-adjusted return, and BlackRock’s institutional heft.
- Coinbase (COIN)
- Great management, significant market position, but exposed to broader crypto cycles and platform risks.
- MicroStrategy (MSTR)
- Highly leveraged Bitcoin proxy, but significant risk due to legal scrutiny and management controversies.
“IBIT, Coinbase, MicroStrategy.”
– Larry [14:30]
Notable Quotes & Memorable Moments
-
“Ordinarily in a normal market, if he’s not being attacked, I probably would put [MicroStrategy] first.”
– Larry [05:36] -
“IBIT is just a one-for-one. As Bitcoin goes up, IBIT goes up, as Bitcoin goes down… Theoretically, Bitcoin can go up and Coinbase can go down.”
– Chris [12:42] -
“They [Coinbase] make their money from transaction fees and subscription fees… that can be cyclical, and we’ve seen it during the pandemic rise and we’ve seen it pull back to where it’s at today.”
– Larry [14:05]
Timestamps for Key Segments
- Comparison Framing – 04:17
- SWOT & Risk Analysis – 05:32
- Larry’s Ranking & Considerations – 11:14
- Chris Repositions IBIT – 12:13
- Bitcoin Primacy Discussion – 13:16
- Coinbase vs. IBIT Revenue Differences – 13:53
- Final Ranking Consensus – 14:30
Tone & Language
The conversation blends financial rigor with straightforward, pop-savvy commentary. The hosts use analogies (“Bitcoin on steroids”) and direct language, aiming to educate without intimidating, and regularly affirm each other’s points while challenging assumptions with respect and humor.
Summary
This episode provides a comprehensive yet accessible breakdown of the leading crypto-related stocks—IBIT, Coinbase, and MicroStrategy—highlighting the nuances, risks, and institutional positioning of each. The consensus is clear: in the current environment, IBIT stands out for its direct Bitcoin exposure and institutional backing, Coinbase comes second for its platform strength but higher variable risks, and MicroStrategy’s leveraged approach and CEO controversies put it firmly in third. If you’re navigating or just getting acquainted with the world of crypto stocks, this episode delivers both depth and clarity on what to look for—right at the heart of Wall Street and the blockchain.