Unless you’re totally off grid and don’t know about cryptocurrencies, you’re probably aware that Warren Buffett believes that holders of Bitcoin and other cryptocurrencies are speculators, not investors.
Now, with that out of the way, Naeem Aslam, chief market analyst at Think Markets U.K. is calling attention to the fact that Bitcoin faces some technical and psychological resistance levels, “But a move above $10K could be very explosive and that would open the floor towards the $15K mark.” Investors who want to stay out of Warren’s doghouse, but position for the potential run that Aslam mapped out, may want to look at some of the market’s crypto related plays.
Nvidia Corporation (NASDAQ: NVDA) and Advanced Micro Devices, Inc. (NASDAQ: AMD) have been among the favorite technology providers for the crypto miners and the blockchain ecosystem. Riot Blockchain Inc. (NASDAQ: RIOT) is focused on building, supporting and operating Blockchain technologies and also launched its own Bitcoin mining operation. Social Reality, Inc. (NASDAQ: SRAX) remains focused on its core advertising technology, but, the recent release of the Alpha version of its blockchain identification graph (BIG) platform is the next step in its consumer data management program with a rewards component.
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