Your Most Lucrative Bitcoin Play of the Year Could Arrive Next Week

Back in October, I told you why I was watching bitcoin and how it could replace gold as the new “safe haven” for your money. At the time, bitcoin was trading around $651.

Fast forward to today – and it’s now trading at an all-time high of $1,228. That’s nearly a 90% gain in less than six months. In fact, the price of one bitcoin is now worth more than one ounce of gold. It was also named as the top performing “currency” in 2016.

And by next week, you could get in on the profits – without buying a single coin.

Here’s how…

The Winklevoss Twins Could Change the Way You Cash in Your “Coins”

By next Saturday, March 11th, the U.S. Securities and Exchange Commission (SEC) will decide on whether or not to approve Tyler and Cameron Winklevoss’ (aka the Winklevoss twins)  application to start a bitcoin-based exchange traded fund (ETF).

You may remember hearing about the Winklevoss twins and how they developed the Harvard University-based social network, HarvardConnection, in the 2010 movie, The Social Network. They claimed that Mark Zuckerberg appropriated their idea to create Facebook. They won a $65 million settlement four years later before losing their second lawsuit attempt.

But ever since they discovered bitcoin back in 2012, they’re predicting it will become even bigger than Facebook – and are just over a week away from finding out if they’ve been approved to start the first-ever bitcoin-based ETF, the Winklevoss Bitcoin Trust ETF (Pending: COIN). And if the SEC fails to issue a ruling by that date, their request will be approved by default.

This means that, if approved, you’re looking at a golden opportunity to capture huge profits.

And, as you can imagine, this pending decision has created a lot of volatility in the price of bitcoin and will likely continue to do so until March 11th. That’s because volatility is always highest before the unknown becomes known. I’ve even seen speculation that if this ETF gets approved, Bitcoin could go as high as $3,600 (or higher) – and if it doesn’t – could drop to around $500 (or lower).

Now the biggest problem for Bitcoin has always been its safety, given that it’s not a physical form of currency. For example, back in 2014, the exchange that handles the most bitcoin transactions – Mt. Gox – announced that around 850,000 bitcoins had gone missing. And another exchange, Bitfinex, confirmed that 120,000 bitcoins had been stolen. Advancements have been made to address these problems, like the creation of the Secure Wallet (which requires a private security key to send and receive Bitcoins). But the fact is, there are still security concerns.

That’s why a bitcoin ETF (if approved) could be your best way to take profits – without having to actually spend at least $1,228 of your precious cash to do so. You’ve got much better things to spend that money on. And let’s be honest,  why waste time trying to find the needle when you can trade the proverbial haystack – in this case, the bitcoin “sector.”

Personally, I own a decent amount of Bitcoin. So I’m very much intrigued at the prospect of this new ETF getting approval, which could propel the price even higher. I’m also curious to see how the new administration’s promise to roll back regulations will affect Bitcoin. Right now, I’m waiting to for the SEC’s decision comes out.

And when it does, rest assured I’ll be sending you an update.

Until next time…

Tom Gentile

7 Responses to “Your Most Lucrative Bitcoin Play of the Year Could Arrive Next Week”

  1. Dennis Nations

    Tom, I’m new to investing. Stocks are seriously over valued so I know the market is due for some sort of readjustment. I have converted a substancial amount of my 401k into metals but am looking to further diversify. The price of Bitcoin makes owning a lot of them prohibitive for a small potatoes investor like myself but an ETF would solve that issue. Thanks for the update.

  2. Joseph C Boylan

    The one thing which keeps me out of Bitcoin is the possibility of the Internet going down. Either from a man made problem or more likely from a CME (Coronal Mass Ejection) which could take place any day and is becoming a more than likely event during the next 5 years – or so! Unless the Bitcoin fraternity has made plans don’t know about, if the Internet disappears then all and I mean all!) digital currency will evaporate.

  3. Dennis Nations…you said ” an ETF would solve that issue. ”
    No it would not. ETF’s are PAPER – never forget that. It is just like saying you own gold or silver if you own GLD and SLV. ….In the coming crisis, ETF’s and the Fiat you’ll get in return for owning them will disappear in the blink of an eye!

  4. Dennis Nations…you said “an ETF would solve that issue.” No it would not. EFT’s are PAPER. It is like saying that owning GLD and SLV is owning gold and silver. In a crisis, the ETF’s and the Fiat paper you’ll get for them can and may disappear in the blink of an eye.

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