As the price of bitcoin rises beyond $7,000, new cryptocurrency-focused investment opportunities emerge. (Learn more: Bitcoin Price Is Back Up And Could Go Higher.)
Wild price volatility have made some bitcoin and other cryptocurrency investors very wealthy, but they have also scared off other potential investors. So, how can one balance the urge to participate with the danger of actually acquiring tokens or coins?
Investor Place suggests purchasing shares in firms tied to the bitcoin boom. These are firms that may be profiting on some component of the boom, but which should provide some protection in the event that the whole market falls.
1. Nvidia Corporation (NVDA)
Nvidia is a company whose stock price almost doubled in 2017, owing partly to cryptocurrency fans’ enthusiasm. This is due to the fact that Nvidia manufactures high-performance graphics processors. These computer hardware parts were initially intended for use with complex video gaming rigs, but they have since been taken over by mining operations that create bitcoin and other digital currency.
The end result? As bitcoin mining operations proliferated throughout the globe, Nvidia’s revenue increased by 40% in fiscal 2017. Because of the strong demand among miners, its graphics cards have sold out all over the globe.
2. Advanced Micro Devices (AMD)
In 1969, Advanced Micro Devices Inc. was founded. In comparison to other technology businesses, this makes Advanced Micro seem archaic. Nonetheless, AMD has swiftly won a place in the bitcoin hall of fame thanks to its graphics processors.
Last year, Alibaba Group Holding Ltd. (BABA) elected to adopt Advanced Micro Devices CPUs for its cloud operations, putting AMD on the route to success. The bitcoin mining craze has aided in this expansion.
3. Bitcoin Investment Trust (GBTC)
Bitcoin Investment Trust is a corporation that attempts to make digital currency investing accessible to small-scale investors. It is remarkable for being the first bitcoin fund that was openly traded.
In 2013, it debuted as a private investment vehicle. The Bitcoin Investment Trust’s value is approximately twice that of the bitcoin it holds, enabling customers to purchase GBTC in a tax-advantaged account. The coins linked with the trust are kept separate and safe.
4. Microsoft Corporation (MSFT)
Microsoft has not joined the digital currency industry directly as of this writing. Nonetheless, blockchain technology, which enables digital currencies, has had a significant influence on some of the world’s greatest technological corporations, including Microsoft.
Since its inception, Microsoft has supported open-source and blockchain technologies. (Also see: When Will Amazon Accept Bitcoin?)
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