INK Ultra Money: Gold stocks for Millennials and three big uses of bitcoin

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When Ed Harrison interviewed David Rosenberg early this year, the Bay Street economist recommended a barbell approach with long bonds on one end and gold on the other. In the July 23rd Real Vision Daily Briefing, Tyler Neville modifies that theme for Millennials suggesting their barbell should have gold stocks on the one hand and innovative companies on the other.

The Fed will keep printing money (free video)

INK does its part in providing gold stock trading ideas today with a look at a California-focused junior miner which is trading off its 52-week highs.

That may be a buying opportunity. Our July 24th morning report is one of the rare times when we highlight a gold miner that has a market cap of less than $30 million and is trading under a dollar. Canadian Insider Club Ultra members can watch the premium video summary here.

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The three uses driving bitcoin's value higher

On Wednesday, Raoul Pal interviewed cryptocurrency pioneer Simon Nixon. It is one of those interviews that hits the ball straight down the fairway, offering insight to both novice and advanced cryptocurrency investors. The interview really starts to pick up steam after the eight minute mark when Simon leads us to his three big uses for bitcoin. In summary, he sees them as follows:

  1. It is money that you own, not the bank's (provided you do not keep your bitcoin on an exchange)
  2. You can spend it without a middle person (sorry Moneris)
  3. Store of value given its finite supply

The first point relates to the risk of bank bail-ins as seen in Cyprus. Many Canadians believe such a scenario is unlikely to happen in Canada, and I tend to agree. But, the Canadian banking industry is different than many other countries where bail-ins are much more likely. While Canadians may not put much weight on the first point, others around the world probably are, helping to push up the value of bitcoin over time.

The three growing uses for bitcoin (premium)

There is more to the second point than meets the eye. While there are some obvious potential economies that come with cutting out the layer of payment processing, there is more to it. As Nixon explains, law enforcement agencies are able to police international crime on the bitcoin blockchain (and most others) without having to rely on financial institutions to do the work for them. The Silk Road investigation was the key law enforcement breakthrough (See Real Vision video The Wild West of Crypto) and has spurred a new blockchain security industry. I mentioned a Canadian stock in the crypto security space in INK Chat on July 21st that could be poised to move (INK Chat is by invitation for Club members).

Third, Nixon makes the case that more and more investors are coming to see bitcoin as a store of value given its finite supply of 21 million. Growing investor adoption is key because as bigger players such as Paul Tudor Jones take significant stakes in their funds, it raises the stakes for the many funds which have zero exposure to the cryptocurrency class.

In Canada, professional money managers are starting to have a few more options to gain exposure to the cryptocurrency space even if they are not ready to plunge directly into holding bitcoin. One of those potential options is Galaxy Digital Holdings ( GLXY) which we featured in the July 23rd morning report. The stock recently started trading on the TSX which opens up the door to more institutional buying. The next milestone would be for the stock to trade over $3 which would make it easier for some ETFs to include it. Watch the video summary here.

Finally, for those who want exposure to the decentralized finance (DeFi) space, Nixon suggests holding Ethereum as most of the DeFi platforms are built on Ethereum. That is relevant for the stock that I mentioned in INK Chat as they claim to be able to track and monitor ERC-20 (Ethereum Request for Comment) Tokens which are used in DeFi applications.

Finally, in the July Energy Top 30, uranium stocks make a notable appearance and COVID-19 is a key reason why. Canadian Insider Club  members can read the report here.

Canadian Insider Club Ultra subscribers have access to premium and free INK Ultra Money content. If you are asked to sign in, select Canadian Insider as your subscription website and use your Canadian Insider Club Ultra user name and password. As reminder, we are subscriber supported and we do not accept payments for stock coverage.

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