OK, now that everyone knows (or should know) what blockchain is and, of course bitcoin, let's take the words of Mr. Wonderful on Shark Tank (US television show)............"How can I make some money" on this new sector? Well, here at FintekNews we like to keep our readers (fans?) on top of the most current thoughts out there. Here are some ideas to participate in the blockchain/bitcoin area. NOTE: these venues have been around for "a while" and if you just wait a few more months (yeah, I know a lifetime), you will see many more "cooler" products head your way. Stay tuned. Its gonna be a LONG LONG run in the crypto investing field.
(Bill Taylor/CEO)
Unlike a celebrity divorce, it's doubtful anyone saw this coming. Bitcoin went bananas this year, blasting more than sixfold. If you invested $100 in early 2010 when it traded at 8 cents a piece, your Bitcoin bonanza would be worth more than $7.6 million today. It’s no wonder individual and institutional investors alike are crazy over cryptocurrencies these days.
The easiest way to bet on this blockchain bullion is via exchange-traded funds, ETFs, mutual funds or even hedge funds (if you’re a qualified investor) that bought into Bitcoin Investment Trust. This way you don’t have to deal with a Bitcoin wallet or exchange, like Coinbase.BIT has rallied 581% year to date, through Oct. 31, and 668% in the trailing year
, according to Morningstar. It trades on the OTC Markets under the ticker GBTC and charges a fat 2% annual management fee.Grayscale Investments launched the Bitcoin Investment Trust in September 2013 as a private fund for accredited investors. It opened to public investors in fourth quarter 2014. It had some $40 million in assets under management at the time, according to CoinDesk, a trade website. Assets have ballooned to more than a billion dollars, according to Morningstar..."
Full Story at Forbes.com