Newly Listed New York Bank is Partnered With Coinbase, Upside Potential?

in #bitcoin7 years ago

*Disclaimer I am most definitely not qualified to give financial advice and the following is simply my opinion!
Metropolitan Bank Holding Corp is a stock I stumbled upon last night and opened a small position in this morning (all my positions are small though because I have almost no capital!) and I think it has some major upside potential. It is a bitcoin related stock but isn't directly tied to the volatility in bitcoin's price. I don't think many people realize that they are partnered with Coinbase. According to Seeking Alpha, "MCB’s Visa- branded debit card, Shift, has a direct link to Coinbase Bitcoin Debit Card and is specifically targeted to Bitcoin customers." As the first US bank involved with a bitcoin debit card that I am aware of (If you know of others please comment and let me know), I think there is a solid bullish play here. Especially because unlike RIOT, MARA, DPW, OSTK, and SQ the bitcoin connection is not widely known yet and I think when it is the stock might run up like those stocks did. Seeking Alpha also mentioned solid fundamentals and that MCB was trading at a 20% discount when compared to its peers based on pro-forma tangible book value. The main take away should be that there is a direct positive correlation between Coinbase's account volume and MCB's profits. Since everybody and their mom is signing up for Coinbase lately, I believe this means this stock can increase in value. Check out the article, do you your own DD and let me know what you think.
[Seeking Alpha Article] (Bitcoin Bank Metropolitan Bank Holding Corp"https://seekingalpha.com/article/4130436-bitcoin-bank-metropolitan-bank-holding-corp)
Thanks for reading!
My open positions at the moment- MCB, QD, MARA, RIOT, SFIX, SAIL, IPDN, MARK, TVIX (Just in case Trump takes us to war or something, that last one is my hedge)

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