But I do agree there is no harm in putting a very small fraction of your portfolio in BTC for the sake of diversification.
Hence, you can’t hold it in your stock trading account nor buy it through the tax savings account.
This can give you exposure to BTC and save you from taxes if Canada cracks down on crypto gains.
As of April 16, it has over 650 Bitcoin in reserve, and it adds around 7.5 BTC per day to inventory.
The mining farm improves its revenue by upgrading its computing power and finding cheaper alternatives for electricity and cooling.
BitFarms stock fell 18.7% since April 15, as BTC fell 20%.
It has data centre farms in cold countries like Canada, Sweden, and Ireland, which reduces its cooling costs.
Between Hive and BitFarms, Hive has the longest trading history since November 2010.
Similar is the case with Bitfarms. This is because Dogecoin gathered momentum thanks to all the popularity it gained from Elon Musk’s memes.
Remember, BTC or any other cryptocurrency hold a huge risk of downside, as their prices largely depend on demand and supply and media coverage.
This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor.
I consent to receiving information from The Motley Fool via email, direct mail, and occasional special offer phone calls.