Raking in $1 billion in 2017, Coinbase seems like the perfect investing opportunity to play the crypto market without having to buy and safeguard Bitcoin, Litecoin, or Ethereum.
But because the San Francisco-based firm is private, there isn't a Coinbase stock symbol.
And even if there was a Coinbase IPO, it might not be as good of an investment as it sounds.
You see, all IPOs are subject to volatile price swings, no matter the industry.
For example, when Snap Inc. (NYSE: SNAP) went public on March 2, 2017, shares of SNAP opened at an all-time high of $28.17 on March 6.
Unfortunately, retail investors who bought at those prices hoping Snap would be the next Facebook Inc. (Nadsaq: FB) got burned...
From yesterday's (Feb. 12, 2018) opening price of $18.84, some early investors have now lost 33.12% of their original investment.
However, we still found a way to profit from the cryptocurrency market without having to buy a risky IPO or even own a cryptocurrency.
Best of all, our readers can invest in it today.
In fact, some of our readers have already made a profit of 23.43% in the two months since our first report about this company came out on Nov. 27, 2017. In that same time, the Dow Jones Industrial Average climbed just 11.71%.
Not too bad.
Collect a Colossal Payday Thanks to California's Legal Cannabis - Click Here Now to Learn How to Position Yourself for Windfall Profits
But in the next 12 months, wealth management company DA Davidson projects this company's stock price could climb another 83.48%.
Today, we'll show you our backdoor crypto investing play through an established company that's been in business since 1999 and is worth $1.4 billion.
And if you know about this stock right now, over the next 12 months, you can take part in the potential 83.48% gains...
Instead of Coinbase, This Is the Real Crypto Profit Play
[mmpazkzone name="in-story" network="9794" site="307044" id="137008" type="4"]
Overstock.com Inc. (Nasdaq: OSTK) is our backdoor cryptocurrency investing strategy.
Yes, it may seem odd that Overstock.com is a way to invest in cryptos like Bitcoin, but CEO Patrick Byrne was one of the first to accept Bitcoin payments...
While Overstock sells surplus and returned merchandise from other retailers, as well as new merchandise, Overstock started accepting Bitcoin as payment when it was just $754.97 per coin, in January 2014.
The online retailer has kept 10% of its Bitcoin earnings in Bitcoin and converted the rest into U.S. dollars, according to CoinDesk.com.
However, on an Aug. 3 earnings call, Bryne said the board of directors approved a plan to keep 50% of Bitcoin payments as Bitcoin.
That means Overstock is actually stashing away the bitcoins it collects as payment, so shareholders are getting a slice of Bitcoin's price growth.
Now, we don't know exactly how many bitcoins Overstock.com is holding right now.
Must Read: 5 Cryptocurrencies to Watch in 2018 Under $10
But we do know roughly how much in Bitcoin people are spending...
Byrne didn't give a time frame, but he said in an August 2017 earnings call that Overstock was receiving $50,000 per week in Bitcoin payments.
At the time of the call, Bitcoin prices opened at $2,709.56 on Aug. 3. Bitcoin prices are now trading at roughly $9,000, which means Overstock has booked a 232.15% gain since Byrne announced Overstock will hold 50% of its Bitcoin payments as Bitcoin.
And that's not the only way Overstock is giving you exposure to Bitcoin. Overstock also operates a blockchain investment division, Medici Ventures.
Medici researches how to incorporate blockchain technology into banking, identification services, land ownership and sales, and voting. For example, its PeerNova holding is building blockchain-inspired technology that enables financial institutions to securely and verifiably manage their data.
As blockchain technology is used more and Bitcoin payments become more common, one analyst has a bullish price prediction for the Overstock.com stock price.
On Jan. 25, DA Davidson set its price target to $110 per share.
That's a potential profit of 83.48% in the next 12 months from yesterday's opening price of $59.95.
Of course, that doesn't come close to the 1,364% Bitcoin price gains between Jan. 1, 2017, and Jan. 1, 2018.
However, buying OSTK stock removes two of the biggest problems with owning Bitcoin directly...
The first issue is that you have to store cryptocurrencies in a digital wallet to keep them safe, which can be a complicated process for new investors. Because keeping track of the private keys (the way to identify a coin) can be difficult, over 30% of all bitcoins in existence are projected to be lost forever, according to a June 22, 2014, report from LetsTalkBitcoin.com.
The second issue is that you have to be comfortable with volatile price swings.
For example, Bitcoin prices opened at $7,404.52 on Nov. 5, but they fell to an intraday low of $5,519.01 on Nov. 12.
That's a 25% drop in a week.
But Overstock lets you profit from Bitcoin while also limiting your risk.
By holding up to 50% of Bitcoin payments, any Bitcoin price jump makes Overstock more valuable. On the flip side, Overstock's core retail business won't collapse if Bitcoin prices take a dive.
The company sells goods and accepts Bitcoin payments, rather than just mining Bitcoin as its core operation. On top of that, the company also accepts 40 different cryptocurrencies, like Ethereum.
If the price of Bitcoin goes down and another digital currency becomes more popular, like Litecoin or Ethereum, Overstock can hold those coins instead as a long-term investment.
These Three Pot Stocks Could Turn a Small Stake into Millions
California is bracing for a tsunami-sized wave of wealth - and if you play your cards right, you could make more money from the marijuana markets than you've ever seen in your life.
You see, thanks to The Golden State's complete cannabis legalization, $20.2 BILLION is expected to flood this industry, delivering massive upward momentum to tiny cannabis startups currently trading for pennies apiece.
But as soon as the money starts flowing into these small companies, and their share prices go from $1, to $5, to $20, or more... you may never see a chance like this again.
Your first step on the road to marijuana millions starts right here.