How to trade If you are looking for an alternative to investing directly in Bitcoin, you can also make money on the rising price of Bitcoin by investing in companies that are working to utilize Bitcoin and the technologies that underpin it, such as Blockchain.
Many millionaires have been made in recent months thanks to Bitcoin’s unprecedented profitability, expanding at rates that most traditional investors find baffling.
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1. Nvidia (NVDA) – High-performance processors aid Bitcoin miners
The well-established hardware company Nvidia Corporation was on track to turn over some $8 billion in revenue in 2017 and its shares experienced growth of around 70% in 2017 alone. Much of that success is due to increased demand for Nvidia’s high-performance graphics cards and processors that were originally designed for desktop PC games. These processors have since been utilised by Bitcoin miners to crack those cryptographic codes and mine new Bitcoins in the process. Furthermore, Nvidia’s graphics chips are also designed with enough processing power to assist with artificial intelligence (AI) applications such as the Internet of Things (IoT) and autonomous vehicles, which will be some of the hottest topics in the coming years.
2. PayPal (PYPL) – Still the leading digital payment processors
PayPal remains one of the most relevant Bitcoin-related stocks in the markets. As the market leader for digital payment processing, PayPal reached a deal with three of the up-and-coming Bitcoin payment processors, BitPay, GoCoin and Coinbase, to allow PayPal merchants to accept Bitcoin as a form of payment. For more information on the latter exchange, check out review of Coinbase to discover if it’s a suitable place for you to buy and sell Bitcoin. Since June 2018, PayPal’s share price has risen by almost 14%, which demonstrates that the company still has plenty of momentum in the markets.
3. Square (SQ) – Sold $34m worth of Bitcoin in Q1 2018
Square is another impressive application headed up by all-conquering entrepreneur Jack Dorsey, of Twitter fame. This mobile payment company based in Silicon Valley, California recently got Bitcoin on board, allowing users to buy and sell the cryptocurrency directly through the Square app. It is reported that Square sold over $34 million worth of Bitcoin in the first quarter of 2018. Although the company spent $33.9 million to get the cryptocurrency on board – resulting in overall revenues of $200,000 from Bitcoin in Q1 2018 – it is not difficult to see the potential for the cash mobile payments app.
4. The Bitcoin Investment Trust (GBTC) – Bringing cryptocurrencies to small-scale investors
The Bitcoin Investment Trust is the only stock available on the NASDAQ or any other US public stock exchange that holds Bitcoin as its primary asset. It’s one of the few ways to invest in Bitcoin without physically buying Bitcoin directly – except using a CFD broker such as eToro that allows you to buy Contracts for Difference on the price of Bitcoin rather than owning it in a crypto wallet. The trust holds around BTC 175,000 in total, with investors able to buy into the trust for a share of the Bitcoin. Each share represents roughly BTC 0.001, so those who purchase 1,000 shares will own just over one Bitcoin. It’s been suggested that investing in the Bitcoin Investment Trust is actually safer than buying Bitcoin outright as investors aren’t subject to security vulnerabilities that some Bitcoin exchanges experience.
5. Overstock.com (OSTK) – The brains behind the TZero alternative trading platform
One of the up-and-coming subsidiaries of Overstock.com is fast becoming a genuine alternative trading system. TZero, which announced an exciting Initial Coin Offering (ICO) earlier this year, is offering a general ledger system for capital markets using cryptocurrencies. Put simply, investors can invest crypto coins such as Bitcoins and purchase real-life securities with them before receiving their profits in the same cryptocurrency. As TZero is operated on the Blockchain, it is said to be far cheaper to operate than more traditional security trading solutions.
6. Microsoft Corporation (MSFT) – Blockchain as a Service coming to Azure
In terms of Bitcoin-related stocks, those that seek to work closely with Blockchain technology will curry favour with the markets most. It’s the decentralisation of trust; renewed faith in open-source technology that is capturing the imagination of the world’s leading developers. Even Microsoft are seeking to build a ‘Blockchain as a Service’ on its Azure cloud, becoming a genuine rival to Amazon when it comes to hosting cloud-based apps. Since its success with Microsoft’s Ethereum Blockchain as a Service in winter 2015, Microsoft has moved its crypto operations at pace ever since.