If you’re kicking yourself for not investing in Bitcoin when you first heard about it, you’re not alone.
Buying Bitcoin is not a straightforward process.
And the earlier you heard about it, the harder it was to buy.
It’s easier than ever before today – but it’s still not that easy. You have to set up a new account at a specialized cryptocurrency exchange with an unproven long-term track record.
You have to verify your identity, bank account information, and jump though a whole host of other hoops.
But fortunately, you don’t have to buy Bitcoin itself to participate in its upside.
That’s right.
You can buy stocks that have a high correlation with Bitcoin using whatever brokerage platform you’re already using (Robinhood, eTrade, Charles Schwab, etc.) and still capture similar returns.
The companies I’m bringing you today are mining for Bitcoin, investing retained earnings into Bitcoin and holding it on their balance sheet, and even acting like a Bitcoin ETF.
The best part is – they go up when the price of Bitcoin goes up, and you don’t have to worry about setting up a new account at a cryptocurrency exchange.
Here are the three best Bitcoin stocks to buy now…
No. 3: The Best Bitcoin Mining Stock to Buy
Headquartered in Castle Rock, Colo., Riot Blockchain Inc. (NASDAQ: RIOT) is aiming to be one of the largest and lowest-cost producers of Bitcoin in North America.
Riot mines Bitcoin.
Without getting too into the weeds, that means Riot provides computing power to the decentralized Bitcoin network in order to verify transactions. The company gets paid in Bitcoin when it finds the next block.
This is extremely important, because without miners, nobody could send and receive Bitcoin. And getting paid in Bitcoin is good for Riot so long as the price keeps going up.
The more computing power (the higher the hash rate) that’s supplied to the Bitcoin network, the more valuable Bitcoin is.
Riot Blockchain is one of the best Bitcoin miners on the planet because its headquarters in Colorado allows the company to keep its operating costs lower than most.
You see, one of the largest reoccurring expenses for most miners is air conditioning used to cool down the Bitcoin mining machines so they don’t overheat.
And since Castle Rock sits at an altitude of 6,224 feet, it’s already colder there than most places, so the business saves a lot of money in air conditioning costs relative to its competitors.
The higher the price of Bitcoin goes, the higher RIOT stock will go.
Just last week, as the price of Bitcoin surged past $27,000 per coin, RIOT stock crossed the $1 billion market cap threshold.
Now, with the price of Bitcoin sitting around $34,000, RIOT has a $1.25 billion market cap.
That’s a 25% increase in RIOT stock for a 26% increase for Bitcoin itself.
If Bitcoin goes to $288,000 later this year like we expect it to, you could be looking at a $10.2 billion market cap for RIOT.
That’s a potential 716% return for the best Bitcoin mining stock on the market today.
Full story on DailyTradeAlert.com
Leave a Comment