We’ve all heard the cryptocurrency buzz…
The zany asset class makes for great conversation. And it’s hard to ignore the massive gains made by Bitcoin over the past decade. But it’s even harder to ignore Bitcoin’s volatility over the past 10 years. And there are still serious concerns over cryptocurrency regulation and store of value.
That’s why, according to Chief Income Strategist Marc Lichtenfeld, there’s a better way to make windfall profits off the crypto boom than owning digital coins – a way that doesn’t expose you to the volatility and outsized risk of these currencies.
In this week’s State of the Market, Marc explains why you should be profiting off crypto speculators… not buying crypto directly.
Among other examples, Marc names a red-hot chipmaker that’s essential to the existence of cryptocurrency.
Without this company’s graphics processing units (GPUs), crypto mining would be impossible. The best part? Crypto mining is hard on GPUs, which are already in high demand for myriad electronic products, like computers and video game consoles.
This means demand for GPUs will remain high even after the ongoing global supply chain crisis resolves itself. So we have a win-win scenario in this company’s business.
While Marc isn’t the biggest fan of cryptocurrencies, he’s bullish on blockchain and its transactional technology – as are many Big Tech companies.
Watch this week’s State of the Market to learn how to play crypto the smart way.
Good investing,
Kyle
