When I first wrote about Coinbase ( COIN ) last October , I naively maintained a ‘hold’ position given the market premium. Coinbase is the only pure-play crypto stock, so naturally investors will buy Coinbase because no other alternative isAnalyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Short position through short-selling of the stock, or purchase of put options or similar derivatives in COIN over the next 72 h ...