On Oct. 23 we said, “Bitcoin is bouncing back strong. In fact, the cryptocurrency last traded at $30,017, and could test $35,000 next. From here, some firms say BTC could see $200,000 at some point. All in hopes we could soon see a Bitcoin ETF approved by the US SEC.”
Today, Bitcoin is up to $44,150 – and could soon see $50,000. From here, some analysts say we could see $200,000 BTC. And while not all investors want to trade digital currencies directly, they are offered other ways to profit from the momentum.
In fact, we’ve mentioned a few ways over the last year.
Look at the ProShares Bitcoin Strategy ETF (BITO). for example.
If you believe the value of BTC will push higher, you can invest in the Pro Shares Bitcoin Strategy ETF (BITO). With an expense ratio of 0.95%, the ETF tracks the performance of spot Bitcoin. This one mimics the price of Bitcoin as closely as possible without investing in the cryptocurrency itself. As noted by Money, “Like all crypto ETFs, part of the allure of BITO is that investors don’t need to deal with cryptocurrency wallets and private keys.”
When we first brought BITO to your attention, it traded around $16. It’s now up to $21.48 and could rally even more with Bitcoin.
We also made mention of MicroStrategy (MSTR) on Oct. 23, as it traded at $348. Today, MSTR is up to $582. We also mentioned Marathon Digital (MARA), which ran from $8.75 to $24.78.
Better, if you believe the value of BTC can push even higher, these ideas could rally even more.