Bitcoin Stocks 2020 – Bitcoin Stocks are weak late in the year but the cryptocurrency is still up 80%. The good news for early 2020 is the fact that Bitcoin will be subject to the halving process where the supply will tighten again. Positive catalysts for Bitcoin in 2020 include an ETF, the halving, institutional money flow, higher usage of the lightning network, and more exposure due to volatility Bitcoin is gold 2.0 and the best bitcoin stock right now is Grayscale Bitcoin Trust (GBTC). Below is a list of the top bitcoin stocks for 2020.
Bitcoin Stocks to Buy – Bitcoin Investment Trust (GBTC) is the best bitocoin stock to buy in 2020 because it tracks the cryptocurrency fairly well. GBTC has been trading at a premium to actual Bitcoin prices and right now the dollar amount premium is still low For example, when the price of Bitcoin soared to a high of $`14,000, GBTC traded up into the $17’s or almost a 30% premium to the price of Bitcoin. In dollar terms, for every Bitcoin at $14,000, you were paying an extra $3,000 premium to own 1 bitcoin in GBTC. This is a huge deal and is why you want to be purchasing GBTC in 2020.
Why am I bullish on Bitcoin in 2020 and long term? Starting in 2020, the Bitcoin halving will take place again. Every four years, the mining reward per 10 minutes is cut in half. Around May 14, 2020, the reward to miners will drop from 12.5 Bitcoins every 10 minutes to 6.25. Supply is cut in half so when the demand comes back, it will add extra fuel to the rally. In 2024, the reward will drop from 6.25 to 3.125 every 10 minutes. Huge price surges usually follow when investors digest the scarcity of this asset. Buy GBTC or actual Bitcoin in 2020/2021.
Best Bitcoin Stocks – Another bitcoin stock to watch in 2020 is NVIDIA (NVDA). NVDA makes the chip that power a lot of the bitcoin mining machines and as the price of bitcoin dropped, so did NVDA. NVDA is currently trading at $210 and I believe the stock can hit $240 over the next 12 months. NVDA should do very well on the next cryptocurrency surge!
Other Bitcoin Stocks to Buy – Below is a list of additional bitcoin stocks to watch in 2020.
Net Element, Inc. (NETE) – NETE is another bitcoin stock to watch in 2020. Net Element, Inc. (NASDAQ:NETE), a global technology and value-added solutions group that supports electronic payments acceptance in a multi-channel environment including point-of-sale (“POS”), e-commerce and mobile devices, announced in early 2019 that the launch of its multi-channel blockchain-powered payments application across multiple touch points including face-to-face via smart payment terminals and electronic commerce as well as via API.
NXT-ID (NXTD) – NXT-ID Inc (NASDAQ: NXTD) announced last year that its subsidiary FitPay and Cascade Financial Technology are jointly developing a platform allowing cryptocurrency holders to make purchases at millions of retail locations worldwide.
Overstock.com (OSTK) – OSTK has dropped with the price of Bitcoin but the company began live trading of tZero in 2019.