FX.co ★ Bitcoin in the future

Bitcoin declined below the level of $60,000 after a great October rally. Nevertheless, Cathie Wood from ArkInvest remains optimistic about the world's largest cryptocurrency. In fact, she is even more optimistic than before.

Last week, it was announced that if institutional investors switch to Bitcoin and allocate 5% of their portfolios, the price of the cryptocurrency will rise to about $560,000 by 2026.

Her latest forecast suggests a growth potential of more than 800%. This may seem far-fetched, but Wood was right when she predicted the growth of Tesla by 1200%.

So, here are a couple of ways to play the cryptocurrency boom, including options with low price tags and zero fees.

Wood herself offers a new way to invest in cryptocurrency. In September, the Ark Next Generation internet ETF changed its prospectus to include access to Bitcoin through Canadian ETFs.

The first bitcoin ETF on the New York Stock Exchange started trading last month, but Canada has been ahead of the US for some time. Over the current year, several bitcoin ETFs have been launched in Canada, including Purpose Bitcoin ETC, 3iQ CoinShares Bitcoin ETC, CI Galaxy Bitcoin ETF and Evolve Bitcoin ETF.

As for the US, the debut of the ProShare Bitcoin Strategy ETF may have been the main catalyst for the October Bitcoin rally.

Investors who want to enter the cryptocurrency market can invest in these ETFs, but it is also possible to buy Bitcoin directly.

Companies that have tied themselves to the cryptocurrency market provide investors with another way to benefit from the cryptocurrency rally.

For example, MicroStrategy, an enterprise software company, acquired 9,000 bitcoins in the third quarter. Therefore, the total number of bitcoins is 114,042, and their stock is approximately $ 6.7 billion.

Due to MicroStrategy's huge stake in Bitcoin, some investors have used it as a proxy for investing in cryptocurrency. In the past, Bitcoin's rise has usually led to similar changes in MicroStrategy's stock price.

There is also Riot Blockchain, which mines bitcoins and hosts bitcoin mining equipment for institutional clients. Due to the rapid growth of Bitcoin price, Riot's stock has risen by a staggering 492% over the past 12 months.

Investors can also check out Coinbase. In the summer, the company's stock price fell below the IPO price of $250, but a surge in cryptocurrencies last month brought it back by more than $300.

Despite the fact that cryptocurrency stocks can be expensive, it is possible to get some of these companies using a popular application that allows us to buy shares of shares for as much money as we are willing to spend.