Five ways to invest in Bitcoin through the stock market
Looking for some traditional ways to invest in bitcoin? With these plays, you can support companies in the stock market in line with the industry.
Five traditional Bitcoin games
Despite crypto and blockchain still operating in a highly unregulated environment and devoid of many consumer protections, several mainstream stock market investments, directly and indirectly, may support Bitcoin.
Here we give you five plays to diversify your portfolio’s exposure to Bitcoin.
1. Grayscale Bitcoin Trust (GBTC)
Grayscale Bitcoin Trust (BTC) is an exchange-traded fund that invests in Bitcoins launched and managed by Grayscale Investments, LLC. GBTC allows investors exposure to BTC that takes the form of a security, while avoiding the direct challenges of buying, storing and storing BTC. Grayscale is currently facing litigation over issues with its Bitcoin Trust product.
GBTC recently traded at $8.11.
Where to find shades of gray:
Website | Twitter | LinkedIn | Bitcoin Trust |
2. Coin base (COIN)
Coinbase is one of the most popular and trusted cryptocurrency exchanges in the world, with over 35 million customers in over 100 countries. Coinbase recently revealed over 2 million BTC in reserves, equivalent to nearly $40 billion. Coinbase also offers a number of other services, such as an online wallet and a secure storage service called Coinbase Custody. Coinbase has been the subject of some controversy due to high fees and lack of customer service. Founded in 2012, Coinbase is based in San Francisco, California and is a publicly traded entity.
COIN recently traded at $41.26.
Where to find Coinbase:
Website | Twitter | LinkedIn |
3. Baked (BAKKT)
Bakkt is a digital asset platform that unlocks crypto and drives loyalty to create delightful, connected experiences for a wide range of customers. Bakkt facilitates the trading of digital assets such as Bitcoin, Litecoin and Ethereum, as well as the physical delivery of Bitcoin futures contracts. Bakkt provides sellers and customers with an open, secure and compliant platform to trade digital assets worldwide. Bakkt had quarterly net income of $12.9 million, up 41% year over year.
BAKKT recently traded at $1.6601.
Where to find Bakkt:
Website | Twitter | LinkedIn |
4. Micro strategy (MSTR)
MicroStrategy is a business intelligence platform that enables companies to analyze data and create insightful visualizations. It helps organizations make data-driven decisions quickly and offers a suite of mobile and cloud-based analytics solutions. MicroStrategy provides access to data from multiple sources and allows users to create interactive dashboards, scorecards and reports. MicroStrategy in particular has about 130,000 Bitcoin, roughly $3 billion. Bitcoin at Microstrategy was bought at an average price of $30,639. Co-founder and Executive Chairman Michael Saylor is a well-known proponent of Bitcoin.
MSTR recently traded at $193.49.
Where to find MicroStrategy:
Website | Twitter | LinkedIn |
5. Blocks [formerly Square] (SQ)
Block is a global technology company with a focus on financial services. Consisting of Square, Cash App, Spiral, TIDAL and TBD54566975, Block is building tools to help more people access the economy. Square helps merchants run and grow their businesses with its integrated ecosystem of commerce solutions, business software and banking services. With the Cash App, anyone can easily send, spend or invest their money in stocks or Bitcoin. Block is reportedly building out a Bitcoin mining operation. Block and Twitter founder Jack Dorsey is a well-known proponent of Bitcoin and decentralized technology.
SQ recently traded at $61.07.
Where to find blocks:
Website | Twitter | LinkedIn |
