Editor’s Note: There are already some exciting developments in the trading world in 2023…
And our friends over at Monument Traders Alliance think you should know about one company in particular.
Head Fundamental Tactician Karim Rahemtulla isn’t a fan of cryptocurrency as a store of value, but he does believe in one particular crypto company.
He goes into detail on exactly how to buy it below.
Over a year ago, I told my readers that Bitcoin was poised to fall.
It did – in a BIG way.
Over 54% from the time I made the call.
But had I played it another way, the percentage gains from crypto’s collapse could have been measured in the thousands.
I don’t care much for crypto.
But others do.
In fact, many are madly in love with it… still.
The love for crypto is not what it was when Bitcoin was at $60,000 and Sam Bankman-Fried was riding high as the new J.P. Morgan.
Now he’s out on bail…
His firm, FTX, is toast…
And many fans of crypto have been taken out to the woodshed.
Not just the little guys but the big guys too.
Manias are not limited to a certain group, and being a sophisticated investor just means you can lose more money before you get hurt.
Greed conquers all… equally!
So how could I have made a ton more money? I could have shorted Coinbase (Nasdaq: COIN) by buying put options.
As Coinbase is a major crypto broker, its fortunes are tied to crypto. And, boy, did it ever get a comeuppance! Shares fell over 80% from high to low. There was nowhere to hide.
But Coinbase is exactly where I would be putting my speculative cash right now – especially on a correction in the market.
And not the shares but the call options. Why?
Well, crypto is not dead… not as long as the zealots are around.
And they are.
Bitcoin is up 25% in the past few weeks.
It’s alive and well, folks.
I still don’t like it…
But I do like making money.
When FTX collapsed, people who wanted to stay in the game had to go somewhere.
And it’s estimated that Coinbase picked up about 30% of FTX’s business.
Coinbase is also not based offshore, and that puts it squarely in the eye of U.S. regulators. So in the world of dirty, it’s Mr. Clean.
A Free Speculative Trade Idea
If crypto moves higher from here, Coinbase should fly… and its options could multiply any return from the shares or from the performance of Bitcoin and the like.
So if you are a crypto junkie, speculator or “investor,” dump the coin and pick up the COIN!