The Bitcoin and Cryptocurrency mania we have all grown to know and love this year has brought to the market a new breed of speculator. Whatever your opinion on this, the craze is here to stay. Due to the high volume of accounts being opened on major sites such as Coinbase, many have experienced difficulty when trying to open accounts to buy Bitcoin, Litecoin, or Etherum. While no longer in their infancy, these online wallets and the technology behind them couldn’t have prepared for what some are calling “The dot com boom on steroids.”
For those who want to get involved and get some exposure to the space without trading futures or the underlying cryptocurrency there are a number of stocks, both fundamentally sound and highly speculative penny stocks of the degenerate variety. I have some lists I track that I will share here as a reference.
And if you fancy some real spec plays that would make even Tim Sykes blush:
APTY, BGGWF, DIGAF, ENVV, EPAZ, FVRD, GCAP, GLNNF, INTV, MOGOF, NCAP, NVTQF, NXTD, SGRP, SING, UEPS, WRIT.
While penny stocks aren’t my forte, I have found success in building out baskets of them while exercising strict risk management rules. For example, maybe you want to set aside 5% of your long term portfolio for speculative plays and choose 5 or 10 of your favorites. I tend to treat these penny stocks as option plays with no expiration.
I am currently long $BGGWF, $MGTI and $PRELF. I will likely pick up two more by the end of the week.
OC