Hauling in $1 billion in 2017, anxious investors want to know when is the Coinbase IPO so they can play the booming $510 billion crypto market.
Coinbase President Asiff Hirji hinted the company could go public but was vague about the timing in a December 2017 CNBC interview.
"The most obvious path of Coinbase is to go public at some point, but there's a lot for us to do between now and then, whenever that date is," he said in the 2017 CNBC interview.
But even if Coinbase does go public, it might not be as good of an investment as it sounds...
You see, all IPOs can be subject to volatile price swings, no matter the company.
For example, when Snap Inc. (NYSE: SNAP) went public on March 2, 2017, SNAP shares 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) lost money...
From yesterday's (Feb. 20, 2018) opening price of $19.31, some early investors have now lost 31.45% of their original investment.
However, we found a different way to profit from the cryptocurrency market without having to invest in a risky IPO or even buy a cryptocurrency.
Best of all, our readers can invest in it today.
Don't Miss This Shot at a $78,000 Windfall: This tiny firm is about to make the entire world wire-free. As its game-changing technology revolutionizes the global power structure, its stock could hand investors a massive return. Learn more...
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.
That's more than double the returns of the Dow Jones Industrial Average, which has climbed just 11.71% in the same time.
Not too bad.
But in the next 12 months, wealth management company DA Davidson projects this company's stock price could climb another 67.55%.
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 67.55% gains...
Forget Coinbase, This Is the Real Crypto Profit Play
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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 65.65% in the next 12 months from yesterday's opening price of $65.65.
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, 2017, but they fell to an intraday low of $5,519.01 on Nov. 12, 2017.
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.
Critical: FCC Approves Revolutionary Device
It's a stunning breakthrough that's set to spark the most monumental life-changing transformation you'll ever see.
The Washington Times says the technology behind this revolutionary innovation "will change the world on a scale hardly seen in human history."
And now that it's approved by the FCC, the floodgates are set to open - and could reward early investors with astronomical gains.
With one tiny company at the heart of this massive shift, even a small investment could create staggering wealth for years to come.