Ian Cooper’s Stock Pick of the Week

Chart of Day: ProShares Bitcoin Strategy ETF (BITO)

Bitcoin is now above $51,600 and could easily see higher highs, we said two weeks ago.

We added, “Not only is that great news for Bitcoin investors, it’s also great news for the BTC mining stocks like Marathon Digital (MARA),” which traded at $25.72.

Today, Bitcoin is up another. $2,750 to $59,826.10 and is about to cross $60,000. With that move, shares of MARA are up to $32.50, and could see $40 near-term.

As for new ideas with the Bitcoin boom, take a look at the ProShares Bitcoin Strategy ETF (BITO), which last traded around $28.

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, and is the world’s largest and most actively traded cryptocurrency ETF, according to ProShares.

BITO is mimicking 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 but can instead invest through a broker they already use.”

Ian Cooper is an experienced trader who uses a combination of technical, fundamental, and news analysis to help individual investors grow their wealth. Ian’s Premium Options Strategies

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