Business & Investment

Bitcoin: How to Get Exposure with TFSA

Over the last few decades, there have been many innovations in technology. And while most of this innovative technology is integrated into the product and inspires new innovations, one technology is not yet widely accepted. Both Bitcoin and the underlying technology that powers it, the blockchain, offer incredible opportunities in the long run.

Bitcoin was launched over a decade ago and faced a lot of skepticism. Today, it’s slowly catching up with investors and institutions, yet the majority of the general public is still wary of this new technology.

However, in recent years, the widespread adoption of Bitcoin and other cryptocurrencies has accelerated considerably. In addition, more and more investors are investing in the cryptocurrency industry.

This shows that space is a long-term investment, not a speculative bet. Cryptocurrency And blockchain.

In 2017, Bitcoin soared to a high of nearly US $ 20,000 in a short-term bubble. And while it quickly collapsed and returned, digital currencies remained a powerful performer.

Some call Bitcoin a new digital format gold, Especially for the value it holds when fiat currency is devalued.

Therefore, when a coronavirus pandemic occurred and the United States had to print large amounts of money for stimulus in some countries around the world, these fiat currencies surged in value considerably. did.

As a result, Bitcoin hit a record high and reached a high last month. Exactly four weeks ago, it hit a record high, surpassing the 2017 high. If you fast forward after 4 weeks, the coins have already recovered more than 40%.

The fact that more investors, including large, well-known investors, are on the rise only gives it more confidence. Not surprisingly, interest in digital currencies has grown rapidly these days.

How to get Bitcoin exposure with TFSA

If you are thinking of trying to get exposure to Bitcoin, there are several ways to keep up with it. Of course, the most popular is to buy real coins. However, there are several other ways to get exposure.

For example, if you want to touch Bitcoin at TFSA, you can’t buy coins. However, there are certain stocks and ETFs that investors can benefit from rising cryptocurrency prices.

There are two very good ways to get exposure with today’s TFSA.

First, there is HIVE Blockchain Technologies Ltd. (TSXV: HIVE), Cryptocurrency miner responsible for blockchain infrastructure.

The company operates in Iceland and can reduce mining costs. It operates 24 hours a day and mines several major cryptocurrencies such as Ethereum, the world’s second largest cryptocurrency.

This year, the value of Bitcoin has more than tripled. However, Ethereum is more than four times higher than it was at the beginning of the year.

Cryptocurrency miners can be very profitable when prices are rising significantly, but they pose some significant risks over the long term.

How to own Bitcoin with TFSA

If you are looking to be exposed to the price of cryptocurrencies only, you may want to invest Bitcoin fund (TSX: QBTC.U).

Bitcoin funds only disclose the price of Bitcoin to investors. The fund buys and holds Bitcoin and issues units to investors. This is the easiest way to get exposure with TFSA or other registered accounts.

For each unit of the fund, the investor will receive the equivalent of 0.001112 Bitcoin. This is a great way to get exposure, but the fund still has a lot of fees.

The management cost ratio is 1.95%, which is significantly higher than many other funds on the market. However, the transaction costs of Bitcoin can be quite high, so it is not unreasonable for funds to have to charge these large fees.


As more and more investors keep up with the times, Bitcoin and blockchain offer enormous technological potential in the coming years. Therefore, if you are waiting for a bystander to consider investing, it is advisable to act immediately.

Last month alone, prices skyrocketed by nearly 50%.

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Bitcoin: How to Get Exposure with TFSA Bitcoin: How to Get Exposure with TFSA

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