OSTK wants to become a rival of COIN
The “crypto craze” is everywhere these days. You can’t open a web page or read a news article without mentioning “Doge,” “To the Moon,” “Bitcoin,” and all those puzzling buzzwords. More and more people are investing their hard earned money in cryptocurrencies and it’s not hard to see why.
Large numbers of people have seen incredible returns on their investments. When we look at Bitcoin the most popular cryptocurrency So far there have been some people who have become billionaires by investing in the digital currency. However, if we look at the amount of cryptocurrencies available for purchase, the market is saturated with Bitcoin wannabes. Every man and his dog (s) hold digital currency that may or may not have the potential to “go to the moon”.
There was crazy where people would flock to them in hopes of achieving the same success as early Bitcoin investors. One of the first craziness that remains relevant to this day is the release of ICOs. An ICO is very similar to an IPO, except that instead of shares receiving shares in a company in return for their investment, investors receive a blockchain that is the equivalent of a share. In other words, a cryptocurrency token. It seemed like almost every company back then was launching an ICO that offered so many different coins for money. However, there were many scams and traps that people fell for.
This main investor focus on the World of cryptocurrency is the driver for our new series, Using stock options to redeem cryptocurrencies. The recent crypto craze is about stock options in the crypto space. As you may already know Coinbase (NASDAQ: COIN) is one of the largest in the world Cryptocurrency exchange programsand they recently went public with a valuation of over $ 100 billion. It seems that more and more companies have a similar idea and are trying to get on this train to capitalize on its popularity.
A stock that was one of the earliest to benefit from capitalization Cryptocurrency Opportunity was Overstock (NASDAQ: OSTK). This link is from 2017! More recently, Overstock CEO Johnathan “JJ” Johnson said he wanted to seek a future in which his company could become a legitimate rival for Coinbase. With all the excitement surrounding Coinbase right now, that seems like a pretty bold statement. It would put significant pressure on OSTK if the company pushed this plan forward in full swing, but if it were able to move further, the excess holdings share price could experience strong momentum.
With this news from Overstock’s CEO, now may be the right time to take advantage of stock options for Overstock to prepare for the potential momentum in the months ahead. Additionally, given the current highly speculative state of the cryptocurrency space, the risk remains high. However, many Overstock stock investors are hoping the company will be able to capitalize on the momentum in the cryptocurrency space for many years to come. There is also the possibility that Overstock will overtake Coinbase and become the leader in the crypto market