Bitcoin, Ethereum And Dogecoin Fall Despite Support From Elon Musk At Widely Anticipated Public Appearance, Tesla Stock Also Drops forbes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbes.com Daily Mail and Mail on Sunday newspapers.
How To Profit From Bitcoin, Ether, And Crypto With Traditional Stocks
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Data analyzing in exchange stock market: the candle chars on display. Analytics price change cryptocurrency BTC to USD (Bitcoin / US Dollar), the most popular pair in the world. Big Bitcoin logo.
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Although the price of bitcoin, ether, and dozens of other crypto assets have surged this year, many investors remain on the sidelines due to a multitude of reasons, such as educational or technological hurdles, as well as friction when it comes to actually setting up a brokerage account.
Fortunately, there are many stocks and traditional securities available TODAY that allow investors to get exposure to crypto without having to directly purchase the underlying assets.
Coinbase Crashes The Party
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Coinbase employee Daniel Huynh holds a celebratory bottle of champagne as he photographs outside the Nasdaq MarketSite, in New York s Times Square, Wednesday, April 14, 2021. (AP Photo/Richard Drew)
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In a watershed moment for the bitcoin and crypto industry, industry headliner Coinbase made its public debut via a direct listing on Nasdaq. It was a volatile day of trading, but it ended with the crypto firm achieving a market capitalization of $86 billion, making it the largest direct listing ever.
That said, despite this successful first day many questions and challenges remain for Coinbase as it gets used to life as a public company. Additionally, while there remains elevated interest from investors to buy the stock, there are important considerations to take into account first.
How Investors Should Interpret Coinbaseâs Wildly Profitable First Quarter
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On the back of bitcoinâs record-setting start to the year, Coinbase posted an estimated profit between $730-800 million in Q12021. It also broke records for assets under management, revenue, verified users, and active users. This stellar performance places Coinbase in an ideal position for its upcoming direct listing. That said, investors still need to make several important decisions regarding how much of their portfolio to allocate to the stock, as well as the timing of their purchase.
Here are Forbesâ takeaways from its earnings call on Tuesday, April 6:
Webinar: Crypto-Assets And Taxes: What You Need To Know
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As millions of people across the US start to file their taxes, questions remain about how to account for crypto holdings. With the IRS paying closer attention than ever, it is important to follow proper guidance.
With the crypto markets surging over the past year, taxes have probably been far removed from the minds of most investors. However, with the filing date approaching it is important for everyone to know how to correctly fill out their forms and avoid inadvertent errors. In fact, the IRS is paying closer attention than ever to the space, as evidenced by its choice to prominently place a question about crypto holdings on the very top of the first page of a 1040.