With only four months before the presidential election, President Biden dropped out, endorsing Vice President Kamala Harris for president.
However, the odds still favor a second term for Donald Trump.
Should the polls continue to favor Trump, investors may want to jump into Bitcoin-related stocks, like Marathon Digital (SYM: MARA), Riot Platforms (SYM: RIOT) and MicroStrategy (SYM: MSTR).
That’s because Trump and his running mate, J.D. Vance are both crypto-bulls.
In addition, according to CoinDesk.com, “Former President and current Republican nominee for this year’s presidential election Donald Trump is scheduled to speak at the Bitcoin Conference in Nashville on Saturday and speculations are mounting that he will announce a plan to make bitcoin a strategic reserve asset.”
Those catalysts could send Bitcoin even higher, and take Bitcoin stocks along for the ride.
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Companies: Marathon Digital (SYM: MARA) and Riot Platforms (SYM: RIOT) With Trump and J.D. Vance’s pro-crypto stance, Bitcoin (BTC) could rally to higher highs. There’s also speculation their support could clear some regulatory hurdles, and create a far more favorable environment for digital assets. All of which would be bullish for mining stocks, like Marathon Digital and Riot Platforms. |
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Company: MicroStrategy (SYM: MSTR) With MicroStrategy (SYM: MSTR), the stock could easily push higher on a Bitcoin rally. That’s because the company owns about 214,000 Bitcoin. Just like with the miners, the higher the value of Bitcoin, the higher the potential value of MSTR. Even better, MSTR just said it will split its shares 10 for 1 to make the stock far more affordable to more investors. It’s expected to split its shares at the close of business on August 1. |
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ETF: ProShares Bitcoin Strategy ETF (SYM: BITO) We can also revisit the BITO ETF, which runs with Bitcoin. If you believe the value of BTC will push higher, you can invest in the Pro Shares Bitcoin Strategy ETF (SYM: BITO). With an expense ratio of 0.95%, the ETF tracks the performance of spot Bitcoin, and is the world’s largest and most actively traded cryptocurrency ETF, according to ProShares. BITO is mimicking the price of Bitcoin as closely as possible without investing in the cryptocurrency itself. As noted by Money, “Like all crypto ETFs, part of the allure of BITO is that investors don’t need to deal with cryptocurrency wallets and private keys but can instead invest through a broker they already use.” |
