Pseudonymous crypto trader Cold Blooded Shiller laid out the case for investing in crypto-related stocks over cryptocurrencies.
What Happened: The trader announced on his X profile that he has been building positions for months, incurring a significant profit.
In the 2021 bull market, crypto stocks like Riot Platforms (NASDAQ:RIOT) (up 10,000%) and Marathon Holdings (NASDAQ:MARA) (up 16,000%) far outpaced Bitcoin's 1,100% gain from the March 2020 lows.
This week, key crypto companies are scheduled to report earnings, with Marathon and Hut 8 (NYSE:HUT) on Wednesday, and TeraWulf (NASDAQ:WULF) on Tuesday.
Also Read: MARA Stock Surges 30% On Ohio Power Play Ahead Of Q3 Earnings
Shiller argues that crypto stocks provide easier access and liquidity for traditional finance investors, especially as U.S.-based crypto stocks may benefit from a more favorable regulatory environment. He mentioned that even with the introduction of spot Bitcoin ETFs, many institutions still prefer crypto stocks.
He also pointed out that stocks allow for diversified exposure to entire crypto ecosystems, not just Bitcoin, with additional options like leveraged positions and options trading.
He concluded his thread by providing technical analysis on several crypto stocks and emphasizing the different exposure methods that crypto stocks offer, including options trading.
What’s Next: Crypto-related stocks will be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.
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