|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||11.45 - 12.05|
|52 Week Range||3.66 - 12.58|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Compound interest might be the most powerful force in the universe, but FOMO can’t be far behind, especially as it relates to bitcoin. But will it lead to bitcoin $40,000?
As has been widely reported, stocks tumbled in May with S&P 500 losing 5.67%. Indeed, riskier assets were not in style last month, but there was at least one exception: bitcoin. The largest digital currency by market capitalization surged 67% last month. After starting at $5,265 on May 1, bitcoin closed around $8,900 on May 31.Bitcoin's May performance is all the more impressive when considering U.S. regulators continue delaying decisions on ETFs linked to the cryptocurrency. Last month, the SEC again delayed a decision on the fate of a bitcoin ETF proposed by VanEck and fintech firm SolidX Management LLC.While data suggest a majority of investing Americans would prefer to access bitcoin via an ETF, the SEC is no hurry to approve a bitcoin ETF.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Bank Stocks to Leave in the Vault It could be a while before regulators give the greenlight for cryptocurrency ETFs, but here some funds that can investors involved with bitcoin. Grayscale Bitcoin Investment Trust (GBTC)Source: Shutterstock Expense ratio: 2%, per year, or $200 on a $10,000 investment.The Grayscale Bitcoin Investment Trust (OTCMKTS:GBTC) was one of the first vehicles using the fund structure to give investors exposure to bitcoin, but to be clear, GBTC is not structured as an ETF.GBTC, which represents fractional bitcoin ownership, "enables investors to gain exposure to the price movement of bitcoin through a traditional investment vehicle, without the challenges of buying, storing, and safekeeping bitcoins," according to Grayscale.There are some drawbacks with GBTC, including an expense ratio that is well above the average fee found on ETFs -- or even actively managed mutual funds. Additionally, GBTC is currently closed to new investors, but interested parties should continue checking the fund's website because GBTC is periodically opened throughout the year.Finally, GBTC can often trade at significant premiums to bitcoin. Based on the fund's recent closing price, it reflects a bitcoin price north of $11,000, not the digital asset's true prices of just under $9,000. Grayscale Digital Large Cap FundSource: Shutterstock Expense ratio: 3%The Grayscale Digital Large Cap Fund, which debuted in February 2018, is an idea, albeit a pricey one, for investors looking for exposure to multiple digital currencies, including bitcoin."Grayscale Digital Large Cap Fund enables investors to gain exposure to the price movement of a diversified mix of large cap digital assets through a traditional investment vehicle, without the challenges of buying, storing, and safekeeping digital assets," according to the issuer. * 5 Stocks Under $10 With Big Upside Potential The fund devotes 70% of its weight to bitcoin and also has allocation to ethereum, XRP, bitcoin cash and litecoin. This bitcoin spent its first year on the market available only to accredited investors (those investors with annual income of $200,000 or a net worth of over $1 million), but it is expected to become available to a wider audience. Amplify Transformational Data Sharing ETF (BLOK)Source: Shutterstock Expense ratio: 0.70%The Amplify Transformational Data Sharing ETF (NYSEARCA:BLOK) is a not dedicated bitcoin ETF. It actually does not hold any bitcoin. Rather, BLOK is a play on the blockchain, the digital ledger on which bitcoin transactions are stored. However, blockchain technology has myriad applications beyond the cryptocurrency space.This actively managed, thematic fund holds 52 stocks, including Internet, financial services, bank, software and semiconductor names. BLOK is also a global fund with over 56% of its weight allocated to companies from outside North America.There is a long-term case for BLOK because of the array of industries that adopting blockchain technologies. Blockchain is already being used across the financial services industry, in healthcare and in conjunctions with smartphones and mobile devices. It's also expected to be a cornerstone of connected devices and the Internet of Things theme.Give BLOK some credit, too. It may be showing some correlation to bitcoin because the fund lost just 2.50% last month as the S&P 500 slid 5.67%. ARK Innovation ETF (ARKK)Source: Shutterstock Expense ratio: 0.75%The ARK Innovation ETF (NYSEARCA:ARKK) is not a cryptocurrency ETF, but it merits a place in this conversation because, at one point, ARKK held a sizable position in the aforementioned GBTC. ARKK is an actively managed fund so it can move in and out of positions, meaning it is possible that the fund will eventually renew its bitcoin exposure.ARKK's managers deserve some credit for their crypto expertise. The fund surged in 2017 as digital currencies prices soared, but ARKK's management team trimmed its GBTC exposure in early 2018, just before bitcoin plunged.Companies found in ARKK include "DNA technologies, industrial innovation in energy, automation and manufacturing, the increased use of shared technology, infrastructure and services and fintech," according to the issuer. * 4 CBD Stocks to Buy for Mainstream Marijuana Profits Currently, ARKK's headwind is not bitcoin exposure or lack thereof. It is a 10% weight to Tesla Inc. (NASDAQ:TSLA). The Bitwise 10 Private Index FundSource: Shutterstock Expense ratio: 2.50% of assets under management.The Bitwise 10 Private Index Fund is the first crypto-based index fund and it holds the 10 largest digital currencies. Those assets are weighted by five-year diluted market values.The fund devotes nearly two thirds of its weight to bitcoin with ethereum and ripple combining for 20.10% of the fund's weight. Assets in the fund are rebalanced on a monthly basis and the minimum investment is $25,000."Assets are held in 100% cold storage, audited annually, and purchased across several liquidity providers to seek best execution," according to Bitwise. "Bitwise actively evaluates network opportunities including hard forks, airdrops, staking rewards, super- and master-node rewards, and emissions, and captures available benefits for fund investors where appropriate."For the three months ending April 30, the fund returned 47.40%.Todd Shriber does not own any of the aforementioned securities.Compare Brokers The post 5 Funds to Consider for Bitcoin's Resurgence appeared first on InvestorPlace.
Mark Yusko, CEO and Chief Investment Officer of Morgan Creek Capital Management, joined Benzinga’s PreMarket Prep trading show on Wednesday morning. Yusko discussed the recent rally in bitcoin, which has sent the Grayscale Bitcoin Trust (OTC: GBTC) up 10.5 percent in the past two weeks. Metcalfe’s Law is a formula used to calculate the value of computer and telecommunications networks that states that a network’s value is proportional to the square of its users.
CBS’s “60 Minutes” featured an in-depth story by Anderson Cooper about bitcoin on Sunday night. After a disastrous 2018, bitcoin prices have rebounded so far in 2019 but remain well below their all-time ...
Bitcoin price spiked past $8,000 intraday, but Bitcoin and most other cryptocurrencies and Bitcoin-related stocks erased gains or turned lower.
After a brutal price crash in 2018 dropped bitcoin prices from near $20,000 to below $3,400, bitcoin has come roaring back so far in 2019. Bitcoin prices have only been above $10,000 two other times. In that instance, bitcoin prices ripped through $10,000 and hit its all-time high of $19,783 within roughly a month’s time.
Cryptocurrencies are staging a major come-back. For example, cryptocurrency Bitcoin bottomed out at around $3,360 at the start of the year and traded recently at $5,700. Now, with reports that Fidelity will roll out a crypto trading service within a few weeks, bet on prices firming up.Source: Shutterstock Fidelity is reportedly set to launch cryptocurrency trading service soon. A spokeswoman said that "We currently have a select set of clients we're supporting on our platform."Fidelity will focus on the Bitcoin cryptocurrency and will target institutional, not retail, customers. This is unfortunate for the crypto market because it would exclude two other major cryptocurrencies: Ethereum and Litecoin.InvestorPlace - Stock Market News, Stock Advice & Trading TipsSimilar to Bitcoin, Ethereum bottomed at around $154 and closed recently at $173. Litecoin traded as low as $31 in January and topped out at almost $92 on April 6. It settled at around $75 on May 6. * 7 Dangerous Dividend Stocks to Stay Far Away From Bitcoin Gains LegitimacyThe cryptocurrency market still struggles from getting taken seriously for a good reason. Fraud and theft are the chief problems the currency faces. Still, those caught stealing the currency are getting charged and indicted. For example, the man who stole $9 million was indicted in Israel.The bad news is that crypto theft is still growing at an alarming rate. Losses grew 70% from 2018 to $1.2 billion. This suggests that Fidelity will have to limit the growth of its service and tread carefully. It must prioritize security and threat detection first and foremost over everything else. Investing in Bitcoin ReboundAlthough investors will not have a chance to participate in Fidelity's entry in the crypto market, they could buy Grayscale Bitcoin Trust (OTC:GBTC) instead. Investors could buy the stock on the open market but should be aware of two things.First, the holding has a 2% annual fee. And second, it trades at a premium to the underlying Bitcoin. Investors could do more research to learn how to buy Bitcoin directly from exchanges. That would remove the unnecessary costs associated with gaining exposure in the cryptocurrency.Despite my concerns for GBTC, the stock is still a good trading vehicle for speculative investors. If Bitcoin rises, GBTC will go up, too. Likewise, if Bitcoin falls, GBTC falls. The stock has sufficient liquidity to allow for quick trades. Trade OverstockHolding shares of Overstock.com (NASDAQ:OSTK) is another way to indirectly play the Bitcoin boom. Per Overstock's website:"We partnered with Coinbase, a Bitcoin platform, to enable Bitcoin as a form of payment on Overstock.com…Unfortunately, Bitcoin payments are not yet accepted through our Mobile website. However, the Pay with Bitcoin option is now available for Overstock international customers."Unfortunately, Overstock failed to secure $100 million in a fund raise in April. GSR Capital, a Chinese firm, does not have a definitive deal as the firm carries out its due diligence first.If Overstock succeeds in getting the investment it needs for the Bitcoin subsidiary, its stock could attract crypto investors. The stock is in a downtrend, trading recently below $13 and down 27% in the last quarter.Although its underlying business lost money last year, management is now aiming to generate $10 million in operating cash flow in 2019. Having Bitcoin prices perk up and getting its subsidiary funded will help the stock move higher.On Wall Street, only one analyst covering OSTK stock has a $51 price target. Shares trade at three times below that level. So, even with the surging Bitcoin prices, Overstock shares are unlikely to trade at that level. Your TakeawayBitcoin is a volatile asset class that is no different from other commodities. Oil, gas, and gold (NYSE:GLD) are also commodities whose prices fluctuate. Investors with the appetite to trade the price movements in Bitcoin could make plenty of profits.Timing the entry price on the drop and the exit when the cryptocurrency surges are the harder aspects of the trade.Disclosure: As of this writing, the author did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Dangerous Dividend Stocks to Stay Far Away From * 7 Tips for New Investors Young and Old * 10 Great Stocks to Buy on Dips Compare Brokers The post Here's How to Invest in the Cryptocurrency Trading Services Boom appeared first on InvestorPlace.
Bitcoin generated a bullish golden cross in its chart on Tuesday when the 50-day simple moving average crossed above the 200-day SMA. The golden cross is a bullish technical signal that occurs when shorter term bullish momentum overcomes a more bearish or neutral longer-term trend. Bitcoin’s golden cross is the first of its kind since 2015.
A pair of cryptocurrency and blockchain industry insiders made some bold predictions about the disruptive potential of blockchain technology in recent days. On Saturday, founder and CEO of Block.one Brendan Blumer tweeted that bitcoin may soon make gold obsolete as a store of value. Bitcoin prices have tanked since peaking at nearly $20,000 in late 2017, and it now trades at around $4,070.
Ethereum is the latest cryptocurrency to experience volatility ahead of a hard fork, a split in a cryptocurrency that occurs when a blockchain is forked into two paths that require software upgrades to follow the new path. A new currency is often created following a hard fork if investors do not agree on which path to take following the fork. Last week, Ethereum announced its hard fork, called “Constantinople,” will occur when the blockchain hits block 7,280,000.
Bitcoin investment firm Grayscale had a challenging Q4 as inflows into its cryptocurrency funds shriveled up, but demand grew from retirement accounts.
After a huge year that put cryptocurrency on the radar of mainstream investors for the first time in 2017, 2018 was disastrous for investors. The cryptocurrency market lost roughly $700 billion in total market cap this year as the 2017 bubble burst and traders took what profits they could. The market cap of bitcoin alone dropped from $220.9 billion as of Dec. 31, 2017 to just $66.3 billion today.
Dec. 16, 2017 was the day bitcoin prices hit $19,783, the cryptocurrency’s all-time highest price. A year ago, bitcoin price targets of $60,000 or even as high as $400,000 were being tossed around on Wall Street. The OTC-traded Bitcoin Investment Trust (OTC: GBTC) is down 51 percent in the past three months alone as the sell-off has accelerated.
Bitcoin Investment Trust is an open-end fund that tracks the performance of bitcoin. That performance has been disastrous in 2018, which begs the question "hodlers" everywhere are asking: Where will Bitcoin Investment Trust be in 5 years?
The cryptocurrency market finished another disastrous week on a low note on Friday, with most major currencies trading down more than 5 percent on the day. Here’s a look at some of the headlines that were ...
Bitcoin ends the month with its best monthly gain in a year, and Grayscale Investments, which offers its publicly traded bitcoin trust, is running an ad urging investors to drop gold for bitcoin. Yahoo Finance's Zack Guzman and Sibile Marcellus are joined by Thornton McEnery, Dealbreaker Executive Editor, to discuss.
Grayscale Investments is launching a new national ad campaign that encourages you to buy Bitcoin and drop gold. CEO of Grayscale, Barry Silbert, joins Yahoo Finance to break down the details.
CryptoKitties is a collectibles game on the Ethereum blockchain where people buy and trade unique digital kittens. At its peak, people were paying more than $100K for a kitten. Where does CryptoKitties stand now? Caty Tedman, Head of Partnerships at Dapper Labs, the maker of CryptoKitties, joins us.