The Street: I was blown away by the magnitude of the financial benefits that Bitcoin could provide to merchants. If merchants are willing to accept Bitcoin, then consumers are going to be far more likely to use it as well.
And if Bitcoin acceptance grows, I think over time shares of BitcoinShop, Inc. (TUCND) could end up being a big winner. (By the way, its ticker symbol will soon change to BTCS.)
BitcoinShop, Inc. already offers 100,000 different items that can be purchased using Bitcoins on its website. From books to movies to toys and hardware, this site seems to have it all.
That's why I call it the "Amazon.com of Bitcoin."
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BitcoinShop is a very young company. It was founded in 2013 by two men named Michal Handerhan and Tim Sidie -- two NASA employees -- and it only started publicly trading at the beginning of February 2014. The company has yet to file its first set of financial statements, which means this isn't a low risk investing opportunity.
That said, the company is seeing some positive early results. Because it is young and is just being discovered, it is experiencing very rapid rates of growth. Products sold have increased more than ten times in the company's first two quarters and the number of registered users has gone up sevenfold.
We are talking about an unproven company in an unproven industry, but this could be an opportunity to get in on the ground floor of something that has the possibility of becoming very big.
Think of this as venture capital investing. You make a small investment and realize that you are taking on a lot of risk in exchange for a chance at being part of a potentially huge winner.
Risks to Consider: I would advise investors to wait a couple of months before buying shares in this company. I believe there is some confusion in the market about the number of shares this company has outstanding. This is likely going to create some serious volatility in its stock price until the first set of quarterly financial statements are filed.
Action to Take --> Consider buying shares of BitcoinShop. If the currency takes off, this stock could be a real game-changer
