…invest in the latest fad, at least do it prudently. This is sort of like your mother saying, “If your friends jumped off a cliff, would you? Yes? Then, please pick a small cliff.”
I know that my position in putting money in the latest social media darling investment is clear. But, just to keep the lines of communication open (“I’d rather know you are smoking pot, son, than have you lie to me about it. Actually, no I don’t want to know.”), here are a few ideas for getting into the Bitcoin game without breaking the bank.
I cannot emphasize this enough, THIS IS NOT INVESTMENT ADVICE OR AN ENDORSEMENT OF THESE PRODUCTS!!! However, if it will satisfy you to have a fingertip in this market, here are a couple of investment products where you can put a small (less than 2% of assets, please!) amount in for the thrill of participation.
“The Osprey Bitcoin Trust (OBTC), is the latest in a small group of funds that provide exposure to cryptocurrencies through their brokerage accounts. Specifically, OBTC allows investors to share in the ebbs and flows of Bitcoin.” *
Amplify Transformational Data Sharing ETF (symbol BLOK), First Trust Indxx Innovative Transaction and Process ETF (LEGR), Reality Shares Nasdaq NexGen Economy ETF (BLCN). Unlike a crypto currency ETF, these product invests in companies developing or deploying blockchain technology.** If you believe, like me, that the technology underpinning the crypto craze is more legit than the fantasy coins themselves, this may be something to research.
Purpose Bitcoin ETF (BTTC) launched in February 2020. It purchases bitcoin directly and holds it in cold storage, allowing more direct ownership than Coinbase.** Honestly, I don’t even know what that last sentence meant.
Best of luck in your pursuit of the Bitcoin at the end of the rainbow. Remember, those Leprechauns are mean little guys.