Bitcoin’s March To $100,000: Can You Profit Without Trading Crypto?

| November 19, 2024
Source: Pixaby

Bitcoin recently exploded from the $55,000-to-$65,000 trading range it had been in for months. As I write this, Bitcoin trades at $88,000, and it seems destined to crack the magical $100,000 level.

I have long been a Bitcoin skeptic, but some new ETFs in the market have me all in to join the run to $100,000 and beyond.

Bitcoin is unique because there are no fundamentals to give investors an idea about potential value. It’s all supply and demand, with a belief that that shortages will push the price ever higher. However, in reality, Bitcoin has been—and will continue to be—highly volatile. Here is a five-year price chart. Ski resorts wish they had slopes like that.

There is a new class of ETFs that uses option strategies to allow investors exposure to many asset classes and earn really attractive dividend yields at the same time. This now includes Bitcoin-covered call ETFs.

I currently track three Bitcoin-covered call ETFs with yields ranging from 23% to 62% and am always on the lookout for new opportunities.

Even if you’re not a crypto trader, there’s still a away to profit from Bitcoin’s march toward $100,000.

This post originally appeared at Investors Alley.

Tags:

Category: crypto

About the Author ()

Tim Plaehn is the lead investment research analyst for income and dividend investing at Investors Alley. He is the editor for The Dividend Hunter, an investment advisory delivering income investments with double digit growth in share price and dividend payments. Tim’s also editor of Weekly Income Accelerator, a covered call trading service, and Automatic Income Machine, a dividend growth service focused on growing your nest egg.

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