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Some people might want to own crypto related stocks in their portfolio. It is easier for the average person to buy a stock than a digital token, and for many people, like myself, it makes sense to double up on your bet in the future of crypto. So I put together a list of crypto related traditional stocks that you can trade or buy and hold in your retirement account.
To put together this list of companies and stocks with exposure to bitcoin and crypto I sorted and listed who I thought might hold the most promise. This is just a list I curated and my own opinion. It gives you a place to start when looking for crypto related investments.
Here is the list:
- GLXY – Galaxy Digital Bank. Trades on the TSX, or if you prefer you can purchase it under the US ticker BRPHF. I have written extensively on Galaxy Digital and Mike Novogratz, you can find those posts here. The bank provides a number of services to institutions. It invests in the crypto space, and has the potential to take the lead if they do things right in the coming years. Currently it is trading at $4.38 CAD and $3.31 USD. I have already had a great return on this investment, but fully expect it has a long way to run, as Crypto get further adopted and more mainstream.
- CME – Chicago Mercantile Exchange. You can own the Merc stock itself or also play the futures markets that they offer in Bitcoin. As the prices heat up, so will their offerings and profits. Futures markets can be fun if you like a roller coaster ride.
- SQ – Square. While I don’t care for Twitter’s crackdown on certain form of speech lately, Jack Dorsey is a Bitcoin believer. His is other company Square, and the related CashApp, are involved in Crypto and it seems they will implement it even more going forward. I would expect Square to become a central player as things move forward.
- PYPL – PayPal. The recent announcement from PayPal that they will add the ability to buy and hold crypto directly through them rocketed the price of Bitcoin over $13k. The downside is you won’t be able to transfer your crypto in and out of PayPal, which makes no sense. I assume that will be fixed once it is all up and running. Either way it will introduce Crypto to a lot more people as well as make it easier to purchase.
- SI – Silvergate. Silvergate Bank was among the first U.S. financial institutions to fully embrace the Crypto industry. Silvergate’s focus on becoming the premier bank for crypto exchanges and institutional investors will allow it to be in the lead going forward. It could be a possible target of other large more traditional banks that eventually want to be in the space. Especially as Silvergate gets into banking for the average individual.
- Coinbase – Not yet listed. I would expect Coinbase to a have a solid IPO, or direct listing, and be heavily invested. Especially if Bitcoin and Crypto keep shooting up. Keep your eyes out for any news and check out this article.
Of course I also think owning Crypto directly makes a lot of sense. Buy some Bitcoin, or Ethereum, or maybe even some ZRX, and add it to your holdings. Either get your own wallet on your computer or phone, or hold it through an exchange like Coinbase. Owning stocks that are involved in the Bitcoin and Crypto space is an easy and obvious way to also get exposure. It is a way to combine the traditional market with the new crypto market as the two worlds continue to collide.
As always, do your own research and this is not professional advice. Just the writings of an mad enthusiast.