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The crypto community has been buzzing about a potential initial public offering from Bitmain Technologies Ltd. for a few months now.
Maybe you've been doing some of that buzzing yourself.
I know that back on Aug. 14, I buzzed about it right here.
I said if Bitmain goes public, it would be one of the few blockchain pure plays on the market. And I noted how a Bitmain IPO would be a big catalyst for the whole cryptocurrency sector.
That all remains true.
But now the time for rumors and whispers is up. Bitmain's big move, which would be the crypto world's largest IPO to date, is on the record.
Last week, the Beijing-based firm officially filed to go public on the Hong Kong Stock Exchange – date to be determined.
There's a lot of potential upside here – but there are many possible pitfalls as well.
So we'll take a look at all that.
Then I'll show you a way you can play this crypto IPO to your advantage.
You're going to want to see this…
Bitmain's Bottom Line
Bitmain is one of the top developers of application-specific integrated circuits (ASICs) for crypto mining and artificial intelligence. With an 85% market share, it pretty much owns the crypto mining rig market.
It's also a large crypto miner itself, though the share of its revenue earned from mining has dropped from above 18% at the beginning of 2016 to below 4% by the first quarter of this year, according to research by crypto exchange BitMEX.
Now, Bitmain's IPO represents not just another opportunity to invest in this fast-growing technology, but also shows that the industry is maturing and going further mainstream.
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So this is exciting stuff.
But here's the thing. I've got four "howevers" to this move right now.
So slow down and check these out before chasing Bitmain's IPO…
The Big However
About the Author
Michael A. Robinson is one of the top financial analysts working today. His book "Overdrawn: The Bailout of American Savings" was a prescient look at the anatomy of the nation's S&L crisis, long before the word "bailout" became part of our daily lexicon. He's a Pulitzer Prize-nominated writer and reporter, lauded by the Columbia Journalism Review for his aggressive style. His 30-year track record as a leading tech analyst has garnered him rave reviews, too. Today he is the editor of the monthly tech investing newsletter Nova-X Report as well as Radical Technology Profits, where he covers truly radical technologies – ones that have the power to sweep across the globe and change the very fabric of our lives – and profit opportunities they give rise to. He also explores "what's next" in the tech investing world at Strategic Tech Investor.