Mark Cuban told Bill Maher that buying gold is ‘stupid’ – and wants bitcoin to drop so he can buy even more. These are 3 simple ways to gain crypto exposure

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Mark Cuban told Maher that buying gold is ‘stupid’ – and wants bitcoin to drop so he can buy even more. These are 3 simple ways to gain crypto exposure

Being crypto bull has its challenges. Even though bitcoin has soared in 2023, it is still down more than 60% from its peak of $68,789 in November 2021.

But one billionaire still takes liking to the world’s biggest cryptocurrency: Mark Cuban.

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“I want bitcoin to go down further so I can buy some more,” Cuban said on recent episode of Maher’s Club Random podcast.

Maher, who claims himself to be “very anti-Bitcoin,” owns gold instead. In contrast, Cuba has no time for the yellow metal.

The Shark Tank star and owner of the Dallas Mavericks says, “If you have gold, you’re stupid as f—.”

Maher argues that gold is “like hedge against everything” but Cuban disagrees.

“Gold is not hedge against anything, is it? What it is is a store of value and you don’t own physical gold, do you… Gold is a store of value and so is bitcoin,” Cuban explains. Are.

He then goes on to explain why gold may not actually protect your wealth in times of crisis.

“You don’t own the gold bar, and if everything goes to hell and you happen to have a gold bar, you know what will happen? Somebody will kill you or kill you and take your gold bar.” Will take

If you share Cuban’s point of view, here are some ways to gain exposure to bitcoin.

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buy bitcoin directly

The first option is the most straightforward: If you want to buy bitcoin, just buy bitcoin.

These days, many platforms allow individual investors to buy and sell crypto. Just be aware that some exchanges charge a commission fee of up to 4% for each transaction. so look for such apps Charge little or no commission,

While bitcoin commands a five-figure price today, there is no need to buy an entire coin. Most exchanges allow you to Start with as much money as you are willing to spend,

Read more: Here’s how much the average middle-class American family makes – How do you deposit?

bitcoin etf

Exchange-traded funds have grown in popularity in recent years. They trade on stock exchanges, so it is very convenient to buy and sell them. And now, investors can use them to get a piece of the bitcoin action, too.

For example, the ProShares Bitcoin Strategy ETF (BITO) began trading on the NYSE Arca in October 2021, the first US bitcoin-linked ETF in the market. The fund holds a bitcoin futures contract that trades on the Chicago Mercantile Exchange and has an expense ratio of 0.95%.

Investors may also want to consider the Bitcoin Valkyrie Strategy ETF (BTF), which made its debut a few days after BITO. This Nasdaq-listed ETF invests in bitcoin futures contracts and charges an expense ratio of 0.95%.

bitcoin stock

When companies link some of their growth to the crypto market, their shares can often move in tandem with the coins.

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First of all, there are bitcoin miners. Computing power doesn’t come cheap and energy costs can be very high. But if the price of bitcoin continues to rise, miners such as Riot Blockchain (RIOT) and Hut 8 Mining (HUT) are likely to attract attention.

Then there are the middlemen like Coinbase Global (COIN) and PayPal (PYPL). When more people buy, sell and use crypto, these platforms stand to profit.

Finally, there are companies that hold a lot of cryptocurrency on their balance sheets.

Case in point: Enterprise Software Technologist MicroStrategy (MSTR). Its market cap is less than $3 billion. Yet its bitcoin count reached nearly 132,500 as of December 27, 2022, which is roughly $3.4 billion in reserves.

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This article provides information only and should not be taken as advice. It is provided without warranty of any kind.