Strategist on why Coinbase is attracting so many retail investors

Shares of the cryptocurrency exchange Coinbase ticked up 2% after its first day of trading. In its market debut, Coinbase hit a high of $429.54 per share before closing at $328.28 per share. JJ Kinahan, chief market strategist at T.D. Ameritrade, joined "Squawk Box" on Thursday to discuss what is attracting smaller investors to the stock.