Home Cryptocurrency News Earn Bitcoin How to make money off bitcoin without actually buying it

How to make money off bitcoin without actually buying it

2 min read
0
127

Bitcoin: it’s electric.

Well, indirectly, anyway. Electricity consumption domestically and around the world is rising on bitcoin mining fervor, according to media reports citing Digiconomist data on bitcoin-related energy consumption.

Investors can capitalize on the surge in electricity consumption by way of bitcoin mining through buying several names in the energy and power space, according to macroeconomic strategist and Bear Traps Report publisher Larry McDonald. Here are his reasons why, and his recommendations to investors.

• Bitcoin is incredibly volatile as an asset and investors are looking to more conservative, long-term ways to play the bitcoin trend than buying the cryptocurrency outright. Through the act of bitcoin mining, electricity is being consumed at a rapid clip.

• Investors can look to one natural gas exchange-traded fund, the United States Natural Gas Fund (UNG), as well as uranium and the Global X Uranium ETF (URA).

• A liquefied natural gas company, Cheniere Energy (LNG), would also be a smart play here.

Bottom line: As bitcoin mining consumes more electricity, some energy-related exchange-traded funds are worth a buy, according to McDonald.

div > div.group > p:first-child”>

Let’s block ads! (Why?)


Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

Bitcoin (BTC) Price Watch: Could This Be a Reversal Pattern?

Bitcoin Price Key Highlights Bitcoin price appears to be forming an inverse head and shoul…