The Bitcoin rally continues.
Last checked, the digital currency was up to $45,075 and could see $50,000 soon, according to analysts at Matrixport.
All in anticipation of a potential Bitcoin ETF. Helping, the cryptocurrency could also see big interest from institutional investors if the US SEC approves an ETF prior to a January 10 ETF deadline. We also have to consider Bitcoin is set for its halving in April, and that the U.S. presidential election could propel it higher, too.
In addition, as noted by CryptoSlate.com, “Matrixport predicts a potential surge to as high as $125,000 owing to Bitcoin’s halving, citing historical returns of over 192% during previous halving periods in 2012, 2016, and 2020.”
That’s great news for Bitcoin, and stocks with a substantial position in the currency. That includes the ProShares Bitcoin Strategy ETF (BITO), which we initially highlighted at $16. It’s now trading at $22 and still pushing higher.
Remember, if you believe the value of BTC will push higher, you can invest in the Pro Shares Bitcoin Strategy ETF (BITO). With an expense ratio of 0.95%, the ETF tracks the performance of spot Bitcoin. This one mimics the price of Bitcoin as closely as possible without investing in the cryptocurrency itself. As noted by Money, “Like all crypto ETFs, part of the allure of BITO is that investors don’t need to deal with cryptocurrency wallets and private keys.”
We also made mention of MicroStrategy (MSTR) on Oct. 23, as it traded at $348. Today, MSTR is up to $691. We also mentioned Marathon Digital (MARA), which ran from $8.75 to $23.55.