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! Yours in smart speculation, Karim P.S. For more ideas like this, tune in to where the real-time action is: The War Room. We have a 90% win rate in 2023, and unlike the crypto crazies, we don't care how we make money... just that we do make money! Unlock the details here. |
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