Opinion: You would have lost less by avoiding crypto stocks and just buying bitcoin

Consider the 10 biggest companies on the Toronto Stock Exchange or TSX Venture Exchange that deal in cryptocurrency or blockchain. Over the past year, with the exception of two, none has performed better than bitcoin.

That does go against conventional wisdom. Crypto stocks go up and down with bitcoin, like a gold miner and gold prices. But, unlike bitcoin, such stocks can be bought with traditional investment platforms – tools that investors are familiar with. And they can be held in tax-advantaged accounts. Coinbase, which is as big and stable as a company you can get in the crypto space, fell by 7 per cent on the news of its SEC investigation. Meanwhile, bitcoin was down by less than 1 per cent, relatively flat on the day.

Take the Vancouver company now know as Green Block Mining Corp., traded on the Canadian Securities Exchange. It had gotten into trouble last year with the Alberta Utilities Commission for mining bitcoin without telling anyone or getting the appropriate permissions. Crypto is also a whole different world, where traditional investment axioms go to die. Bitcoin, for all its reputation of volatility compared with more mainstream investments, is considered a boring bulwark in its own world.

But you still would have lost money... 1000000x better plan would be to buy Costco stocks

BitCON

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Crypto market trends higher as Bitcoin runs into resistance at $23,600
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

U.S. lawmakers introduce new crypto oversight legislation as industry shakesAfter 13 years, at least three crashes, dozens of scams and Ponzi schemes and hundreds of billions of dollars made and evaporated, cryptocurrencies finally have the full attention of the U.S. Congress, whose lawmakers and lobbyists have papered Capitol Hill with proposals on how to regulate the industry. Instead of leaning into more fake money, we should have made the money we had more real THREE MASKS ON IS OKAY BUT FOUR MASKS ON IS BETTER!!!!! It has been a pie-in-the-sky, naive concept from the start. No govt will permit any currency to evade taxes, never, ever. So goes the fantasy - poof!
Source: CTVNews - 🏆 1. / 99 Read more »