Pretty astounding, but Tesla may not be Wood’s most bullish call at the moment.
“If we’re right and companies continue to diversify their cash into something like Bitcoin, and institutional investors start allocating 5 per cent of their funds in Bitcoin we believe the price will be ten-fold what it is today.
The first bitcoin ETF on the New York Stock Exchange just started trading last week, but Canada has been ahead of the U.S.
For instance, enterprise software company MicroStrategy purchased 9,000 bitcoins in Q3.
Because of MicroStrategy’s huge Bitcoin stake, some investors have used it as a proxy for investing in the cryptocurrency.
Then there’s Riot Blockchain, which mines Bitcoin and hosts Bitcoin mining equipment for institutional clients.
Investors can also check out Coinbase, which runs the largest cryptocurrency exchange in the U.S.
Investing in art by the likes of Banksy and Andy Warhol used to be an option only for the ultra-rich, like Wood.
We have enabled email notifications—you will now receive an email if you receive a reply to your comment, there is an update to a comment thread you follow or if a user you follow comments.
This website uses cookies to personalize your content , and allows us to analyze our traffic.