Bitcoin is the gift that keeps on giving. Those who had the vision to see the potential of the blockchain-powered cryptocurrency early on became multimillionaires. Even now, opportunities abound, with bitcoin tantalizingly surging to increasingly higher ground. Love it or hate it, the digitalization of money is one of the groundbreaking paradigm shifts of this century.
Bitcoin is so profound that you don’t even have to own the cryptocurrency to enjoy enormous profitability. A few months ago, I wrote that Bitcoin Investment Trust (OTCMKTS:GBTC) is one of the best stocks to buy as a Millennial. My reasoning at that time was that the digital currency’s blockchain technology eliminated the need for “third-party verification in financial transactions.” In turn, this eliminates limitations based on “time, tradition or borders.”
What I should have said was that bitcoin was among the best stocks to buy as an aging baby boomer. The reason is that bitcoin trades on a 24-hour cycle, while Wall Street is open for only six-and-a-half hours. This “accelerated” time frame is a key reason why GBTC is up 204% year-to-date. Nothing moves faster than bitcoin, and if you catch it on the right cycle, it can eliminate past investing mistakes.
Of course, many folks are naturally leery about investments with which they are not familiar. Fortunately, a number of “traditional” companies offer secondary exposure to digital currencies.
Here are three stocks to buy to leverage the bitcoin craze!