The Bitcoin rally shows no signs of slowing.
Last checked, the digital currency traded at $44,050 and could still push higher. Not only are traders still betting on a potential BTC ETF, but newer FOMO traders are coming in, too.
However, it’s not just Bitcoin exploding on the news. BTC miners, related ETFs, and even companies with sizable positions in BTC are jumping, too.
On October 23h, for example, we said:
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 but can instead invest through a broker they already use.”
When we first brought BITO to your attention, it traded around $16. It’s now up to $21.83 and could rally even more with Bitcoin.
Or, look at MicroStrategy (MSTR).
On Oct. 23, MSTR traded at $348.
At the time, we noted, “After dropping from about $480 to a low of $307, the MSTR stock is starting to pivot higher again. Two, it’s pivoting from over-extensions on RSI, MACD, and Williams’ %R. And three, with Bitcoin showing signs of rebounding, the company just increased its stake in BTC to $4.68 billion, which could boost the MSTR stock even more.”
Today, MSTR is up to $574.
We also mentioned mining stocks, like Marathon Digital (MARA).
Around Oct. 23, MARA traded at $8.75. it’s now up to $15.84.
The best part – as long as Bitcoin can push higher, these other ideas should follow.
