Maria’s Note: Bitcoin has been on a tear. Even with the recent selloff, it’s up about 80% over the past 12 months. But if you’ve been reading Inside Wall Street, you know that’s just the beginning.
Editor Nomi Prins believes Bitcoin prices could double – or more – before the end of the year. And at our Distortion Report advisory, she armed readers with a simple guide for buying and storing Bitcoin safely. Bitcoin is up 44% since Nomi recommended it there last May.
Still, we know some of our readers might be skeptical of investing in Bitcoin. That’s why today, we’re handing the reins to our colleague and billion-dollar hedge fund manager, Larry Benedict.
Larry has been trading the markets for close to 40 years. His hedge fund made $95 million in 2008 – the same year most of the market was falling to pieces. He even went 20 years without a single losing year. So, when he talks, we listen.
And today, Larry tells us about a way to make money from Bitcoin – without buying Bitcoin…
Around 2016, a gentleman came to my office to tell me, “You’ve got to buy bitcoin!” Bitcoin was trading around $1,000 at the time.
I’d been having a good year, so I had some capital to speculate with and was interested. I asked him to tell me more.
But that’s where it all went sideways.
When he started talking about putting money on an external drive and all the hoops to jump through… I passed on the chance.
I’m old-school, and I control risk closely. In fact, my careful management of risk led Jack Schwager to feature me in his book Hedge Fund Market Wizards, right after his chapter on Ray Dalio.
So all of the unusual steps sounded crazy to me.
Yet I watched its price run all the way up to more than $64,000 in 2021. That would have been more than a 6,000% return had I bought when I had the chance.
Even at today’s lower prices, I still could have made more than 3,900%.
But I missed it. And you know what? I don’t regret it.
For every person who made millions on cryptocurrencies like bitcoin, there are stories of others who had the chance and didn’t take it.
And there are many more who took the chance and lost thousands (and maybe millions) because they didn’t understand what they were doing and didn’t understand the risks.
But despite missing out, I didn’t let that stop me from looking for ways to profit from bitcoin in a way that I could understand… and in a way that I knew would increase my chances of profiting, while allowing me to control my risk.
I used my nearly 40 years of expertise to uncover an alternative solution. And I found a trading opportunity that even has the potential to surpass bitcoin’s gains.
Let me show you an example…
A 6X Bigger Win
In 2022, bitcoin had become extremely correlated with the overall markets. And as most of us will recall, the markets were having a rough time.
From the beginning of that year to June, the S&P fell over 20%.
So given that correlation, it didn’t make sense to bet on anything but the downside in bitcoin.
But in July, that negative pressure started to weaken. And bitcoin regained some short-term momentum.
That meant it was time to put my trading strategy into action and open a position that would benefit from a recovery in bitcoin.
And in just five days, we were able to make an 87% gain.
During the same window, bitcoin itself only rose 13.5%.
So we were able to make over 6X using my strategy compared to buying bitcoin directly.
Even better, we’re able to profit using this strategy even when bitcoin isn’t going up…
On another occasion, bitcoin was struggling to stay at its highs, and we saw an opportunity to the downside in this space.
And as bitcoin fell -18.7%, we made 72.3%.
That’s part of what makes this trading method so powerful.
And by the way… this strategy doesn’t apply exclusively to bitcoin (although that’s where I’ve achieved some of our biggest gains).
I’ve used my strategy to help readers profit from market trends like AI, the bond market, energy, and more.
And that’s the reason I don’t want you to miss out on these types of opportunities…
Profiting Without Buying Bitcoin
Bitcoin and other cryptocurrencies aren’t for everyone.
You might look at the complexity of getting started – as well as the high volatility in this space – and struggle like I did.
That’s why this trading strategy is so powerful.
I call it “bitcoin skimming.” That’s because we’re looking for opportunities in the cryptocurrency markets – without actually having to buy crypto.
You don’t need to open an account on a special exchange, come up with a fancy password, keep track of a hard drive that stores your crypto, or even worry about a crash in bitcoin.
Bitcoin skimming is possible with just a normal brokerage account.
And I’d like to show you how it works tomorrow, Wednesday, January 24 at 8 p.m. ET.
If you’re looking for incredible gains without having to buy bitcoin, then this is the best strategy I’ve found so far. As I showed above, it can even return higher gains than bitcoin over the same time period.
So I hope you’ll join me tomorrow, January 24, to learn all the details. All you have to do to attend is claim your free spot right here.
Regards,
Larry Benedict
Editor, Trading With Larry Benedict