TipRanks
Ride the Crypto Boom with These 3 Stocks
Some 15% of the American public owns some form of cryptocurrency – and a large part of that group jumped on the bandwagon in the last two years. The digital currencies – Bitcoin is the most famous, but there are scores of others – offer users a distinct set of advantages, based on their blockchain technology. First, the crypto coins are secure – as a digital technology, blockchain is notoriously difficult to break. Second, the coins have the chief attribute of any store of value: scarcity. There is a mathematical limit to how many Bitcoin, for example, will ever exist – and that limit gives them their value. People want a secure online currency, are willing to pay for it, and the relatively scarce (compared to traditional fiat currencies) crypto coins offer both attributes. The result, in recent years, has been a boom as investors have started looking seriously at the crypto sector. Of course, any digital currency is going to need a range of services to be usable. Financial companies, to back it, and payment servers, to handle transactions, to name just two. Other companies and major business figures – Elon Musk comes readily to mind – will invest heavily in it. All of this creates a landscape in which investors can profit from crypto without ever buying an actual coin. They can buy into the companies that are poised to ride the cryptocurrency boom to higher profits. How big is crypto? The market for it…
