As the Bitcoin price goes higher, more investors are seeking out information on the No. 1 cryptocurrency. And one of their first instincts is to search for a Bitcoin stock symbol.
There are crypto and Bitcoin-oriented companies one could describe as "Bitcoin stocks." And each one of those, if publicly traded, will have a stock symbol.
Bitcoin is an asset that trades primarily on exchanges designed specifically for cryptocurrencies. In such places, you will see a Bitcoin ticker symbol (as opposed to a stock symbol).
While the most widely accepted Bitcoin ticker symbol is BTC, there are a few others that investors may encounter and should know about. In particular, multiple "forks" of Bitcoin have created separate, alternative, but similarly named versions of the cryptocurrency - each with its own name and ticker symbol.
Below you'll find all the known Bitcoin ticker symbols as well as a few of the stock symbols of the most popular crypto-related investments.
The following ticker symbols are associated with Bitcoin itself:
One of the most confusing things about Bitcoin for newcomers is that there are so many versions of it. Know that Bitcoin with no other modifier is the one true Bitcoin.
The others are "hard forks" that split off from the original. While these forked versions share many similarities with the original, the coins are not interchangeable. Also, the prices of these forked versions of Bitcoin tend to be a mere fraction of the original.
RELATED: Nearly every time Bitcoin goes up, a small class of little-known cryptos jump even higher; 142% in 12 days... 330% in 82 days... 273% in 14 days. One rocketed 1,900% higher in just 62 days. Details on this chart...
Also, the mining power behind these forked versions are much, much lower than that which backs the original Bitcoin. That means these alternate versions of Bitcoin are much less secure. Specifically, hackers could gain control of the network in a "51% attack" in which they could hijack users' coins.
This is not an exhaustive list - there are more than a dozen of these - but this list covers the alternative Bitcoin ticker symbols you're most likely to see:
Investors that don't want to buy Bitcoin outright can seek exposure via more conventionally traded assets.
Although the Securities and Trade Commission (SEC) has dragged its feet on approving a Bitcoin ETF, investors do have an over-the-counter (OTC) option.
The seven-year-old Grayscale Bitcoin Trust (OTC: GBTC) tracks the price of Bitcoin. You can see that its symbol includes "BTC" - smart marketing on the part of Grayscale. The caveat here is that GBTC typically trades at a steep premium to its net asset value, so you're overpaying to get exposure to Bitcoin.
You can also use equities to dip your toes into crypto.
For those who want to play it safe, you can buy stocks of companies that are only partly involved in Bitcoin and crypto. They range from blue chips like International Business Machines Corp. (NYSE: IBM) to payment innovators like PayPal Holdings Inc. (NASDAQ: PYPL) and Square Inc. (NYSE: SQ).
A more ambitious play is MicroStrategy Inc. (NASDAQ: MSTR), which last year decided to adopt Bitcoin for its balance sheet reserves. Last year, the firm bought more than $1 billion worth of Bitcoin.
You also have a group of small crypto companies that became publicly traded after a reverse merger. Some of these penny stocks only jumped on the blockchain bandwagon for a quick profit back in 2017, but a few of the Bitcoin mining stocks are worth a look.
These include: Hive Blockchain Technologies Ltd. (OTC: HVBTF); Riot Blockchain Inc. (NASDAQ: RIOT); and Marathon Patent Group Inc. (NASDAQ: MARA).
The first major fully Bitcoin-centric stock will be Coinbase, which is planning its initial public offering in 2021. In addition, the Bakkt exchange, a subsidiary of Intercontinental Exchange Inc. (which owns the New York Stock Exchange), is set to go public via a SPAC (special purpose acquisition company) this year.
Those events should open the door to many more crypto IPOs over the next several years.
Institutional money has been a primary force in driving the stock market to new highs. And now some of that money has started moving into crypto.
Imagine if every single investment firm on the planet began to diversify to include Bitcoin and other digital assets. If they put 2%, 3%, or 5% of their capital into coins... it would do nothing less than trigger the biggest crypto inflow ever, period.
We've found a way to make the most of this rare opportunity.
Nearly every time Bitcoin goes up, certain members of this small class of little-known cryptos jump even higher; 142% in 12 days... 330% in 82 days... 273% in 14 days.
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About the Author
David Zeiler, Associate Editor for Money Morning at Money Map Press, has been a journalist for more than 35 years, including 18 spent at The Baltimore Sun. He has worked as a writer, editor, and page designer at different times in his career. He's interviewed a number of well-known personalities - ranging from punk rock icon Joey Ramone to Apple Inc. co-founder Steve Wozniak.
Over the course of his journalistic career, Dave has covered many diverse subjects. Since arriving at Money Morning in 2011, he has focused primarily on technology. He's an expert on both Apple and cryptocurrencies. He started writing about Apple for The Sun in the mid-1990s, and had an Apple blog on The Sun's web site from 2007-2009. Dave's been writing about Bitcoin since 2011 - long before most people had even heard of it. He even mined it for a short time.
Dave has a BA in English and Mass Communications from Loyola University Maryland.