Over the last couple of years, the price of Bitcoin (CRYPTO: BTC), as well as the rest of the cryptocurrency industry, has gone through a significant revolution. And for years now, if you’re looking for a high-potential, high-growth investment, Bitcoin has been one of the best assets to consider.
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Why is Bitcoin worth a buy today?
The interest in Bitcoin has been growing for some time. But over the last four months or so, as tech stocks, cryptocurrencies, and other higher-risk investments have fallen out of favour, the interest in these assets has dwindled.
Just because the momentum from investors and interest had cooled off doesn’t mean the potential has. In fact, I’ve been recommending for months that investors use this opportunity while the price of Bitcoin is low to gain exposure.
These assets have so much long-term potential that they will almost surely rally again. And as we’ve seen over the last couple of days, when they do begin to rally, the price can grow significantly.
In just three days over the weekend, the price of Bitcoin gained almost 10%. And although that may not sound like that much, many of the crypto stocks you can buy are leveraged to the price of Bitcoin, meaning their growth when the market opens the following Monday is even more significant. This is why it’s crucial to gain exposure today, especially if you’re looking at buying a crypto stock.
Bitcoin’s price can gain all weekend long since cryptocurrencies trade 24/7. Stock markets close in the afternoon on Friday and are closed for over 65 hours until they open again on Monday.
Even after the recent rally in the price of Bitcoin and the rest of the cryptocurrency industry, though, the price of the cryptocurrency is still more than 30% from its all-time high, so there is still an opportunity for investors to gain exposure while it trades at a discount.
Two top crypto stocks to buy before the price of Bitcoin gets more expensive
There are several high-quality cryptocurrency stocks to consider buying today if you want exposure. And while buying the actual cryptocurrency certainly has advantages, so does buying high-quality crypto stocks that you can purchase in a TFSA.
A stock like Hut 8 Mining (TSX: HUT)(NASDAQ: HUT), a Bitcoin miner, is one of the best high-growth stocks you can own. On Monday alone, Hut 8 gained over 6%, and as we’ve seen in the past, it can grow shareholders’ value considerably when the price of Bitcoin is rising.
Mining stocks see their margins increase substantially when the price of the cryptocurrencies they mine gains in value. So that’s why HUT is one of the best crypto stocks you can buy if you’re looking for a high-growth investment while the price of Bitcoin is still relatively cheap.
Another option, of course, would be to buy a cryptocurrency ETF. There are several to choose from, but one of the best has to be the CI Galaxy Bitcoin Fund (TSX: BTCX.B) which offers investors the ability to gain exposure directly to the price of Bitcoin. They can also purchase the investment in a registered account such as a TFSA.
Owning an ETF that offers direct exposure to the price of Bitcoin almost surely won’t have as much growth potential as a mining stock like HUT. However, it will also be far less volatile, which will be ideal for some investors.
Bottom line
Whether you decide to buy actual Bitcoin, a crypto miner, or an ETF, one thing’s for sure, the long-term potential that the cryptocurrency industry offers is significant.
So while the prices of Bitcoin and other high-quality cryptocurrencies are still trading at a significant discount, they are some of the best investments to make today.
