Money Legos And Composability As DeFi Building Blocks
February 17, 2021Dash and Cosmos (ATOM) went wild thanks to staking
February 17, 2021
Indirect ways to invest in bitcoinIt’s February 2021.Bitcoin just hit $50,000.We’re in the middle of a bitcoin market cycle and we’re on the bullish frontend of it.Dan Held has floated the idea that we’re in the early stages of a bitcoin supercycle, implying that the market may not see the same bearish downturns it did in 2013 or 2017.Where can you take advantage of bitcoin’s bull run without buying actual bitcoin?There are ways to find indirect exposure to the crypto market.This is not financial advice. Let’s get that out of the way.We’re going to look at some of the best performing bitcoin stocks right now and others to lookout for in 2021.If you’re an investor, you know that blue chips are where you place your large, long term positions. Think Apple, Microsoft, or Johnson & Johnson.What are the blue chip stocks for bitcoin?MicroStrategyMicroStrategy deals in cloud services, software, and business intelligence. CEO Michael Saylor has become one of the biggest names in bitcoin.2020 saw Saylor open the floodgates for putting bitcoin onto corporate balance sheets. As of December 2020, MicroStrategy already had over $1 billion of their treasury reserves in bitcoin.Even the week I’m sitting down the write this, Saylor continues to announce new BTC positions for MicroStrategy.Not only does the company provide easy access to bitcoin exposure for the average investor, but MicroStrategy also brings in half a billion dollars in revenue annually. They have a market cap of nearly $10 billion.MicroStrategy trades as MSTR on the NASDAQ.SquareJack Dorsey loves bitcoin.If you’re a bitcoiner, you already knew that. If you’re a newcomer, then yes, one of the biggest CEOs in the world is a bitcoin advocate.Dorsey heads up both Square and Twitter so Twitter could be another company to consider as they also continue to discuss bitcoin.Square, however, is…
