It’s been the biggest financial news for months.
It’s not the S&P 500 … or COVID-19 recovery plays. It’s not even tech stocks.
- Yes, even dogecoin.
All of these digital currencies languished in 2020 only to push to new highs at the turn of the new year.
Couple that with the recent Coinbase Global Inc. (Nasdaq: COIN) initial public offering and cryptos are all retail investors can talk about.
Pro tip: I recently asked chief investment strategist Adam O’Dell about investing in Coinbase. Hear what he had to say about it here.
But buying cryptos is not easy, and the market is extremely volatile. After reaching $63,000 just a week ago, bitcoin fell 12% in seven days.
That leads to my stock selection for today’s episode of The Bull & The Bear podcast: a blockchain ETF.
More on that in a second.
First, let’s see what led me to this selection.
Blockchain: The Tech Behind the Cryptocurrency Boom
Cryptocurrencies would not exist without revolutionary blockchain technology.
In simplest terms, blockchain is a digital ledger that is duplicated and can be spread across thousands of computers.
It makes it very difficult to change or hack the system because of how information is recorded and spread.
Cryptos use blockchain to operate without a central authority.
Blockchain Spending Expected to Take Off
Spending on blockchain technology was rather modest in 2018 and 2019.
However, analysts project companies will spend more than $41 billion on this tech by 2025 — a 1,225% jump from 2019 spending.
I have a way for you to capitalize on the blockchain boom.
A Blockchain ETF to Buy
The Amplify Transformational Data Sharing ETF (NYSE: BLOK) is an exchange-traded fund (ETF) that invests in companies that research, develop and utilize blockchain.
This blockchain ETF is like investing in the core of cryptos without trying to find the perfect stock.
In this episode of The Bull & The Bear, I tell you why BLOK is a great investment that gives you strong exposure to blockchain technology.
The Bull & The Bear
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Research Analyst, Money & Markets
Matt Clark is the research analyst for Money & Markets. He’s the host of our podcast, The Bull & The Bear, as well as the Marijuana Market Update. Before joining the team, he spent 25 years as an investigative journalist and editor — covering everything from politics to business.