Ready to Bet on Bitcoin? Here Are the Easiest Ways for Canadians to Invest

The Bitcoin Fund (TSX:QBTC.U)(TSX:QBTC) is one of the easiest ways for Canadians to bet on the white-hot cryptocurrency without a wallet.

The Bitcoin roller-coaster ride has really become exciting in recent weeks, surging past the US$50,000 mark and enriching many who stood by the cryptocurrency through both good times and bad.

Just last month, the smart people at JPMorgan noted that Bitcoin’s return to US$44,000 was unlikely. They said that institutional inflow wasn’t strong enough for the cryptocurrency to bounce back to its high. Boy, were they wrong.

Tesla’s Elon Musk has embraced Bitcoin. Who’s next?

Thanks to a bit of help (and a huge vote of confidence) from Tesla‘s Elon Musk, Bitcoin prices skyrocketed to new heights, leaving the strategists at JPMorgan scratching their heads. Now, JPMorgan is saying that Bitcoin could surge past the $146,000 mark over the long run. Talk about a price target upgrade!

Bitcoin remains an incredibly speculative asset that will be worth as much as someone else is willing to pay for it. And right now, it seems like everybody is more than willing to pay any price to ride the soaring asset to new heights. That’s the nature of the greater fool theory, which has nothing to do with us here at The Motley Fool! Although it is worth mentioning that The Motley Fool recently announced a $5 million investment in Bitcoin this week.

As other big-league firms announce investments or acceptance of Bitcoin, there are reasons to believe that the sky is the limit for the cryptocurrency. Although I wouldn’t speculate on which firm is next to give the cryptocurrency a vote of confidence, I think Bitcoin’s risk/reward tradeoff may make sense for those who understand the rules of playing the game of greater fools and have money that they would have otherwise been put into other inflation-hedging stores of wealth like gold.

BTC prices could continue surging, but please, do be cautious

If you’re willing to participate in Bitcoin’s latest boom, then make sure you’re more than willing to lose a majority, if not the entirety, of your investment without a moment’s notice. The momentum could easily reverse itself overnight, especially if ex-Fed chair Janet Yellen talks about placing regulatory hurdles in front of Bitcoin and other hot cryptocurrencies.

With that warning out of the way, you may want to consider The Bitcoin Fund for direct exposure to Bitcoin prices or a Bitcoin miner like HIVE Blockchain Technologies, which like other commodity miners, should be seen as a levered way to play the price of the underlying asset. Both TSX-traded securities offer Canadians a simple way to expose themselves to Bitcoin without having to go through the tedious process of setting up a cryptocurrency wallet.

Betting on Bitcoin has never been easier!

Many raging Bitcoin bulls see the cryptocurrency breaking past the US$100,000 mark by year’s end. It seems pretty far-fetched, but I certainly wouldn’t rule out such an explosive move. And I definitely wouldn’t dare bet against the white-hot cryptocurrency, as Bill Gates said he once would have there been an easy way to short it.

Personally, I’m not ready to embrace cryptocurrencies. But if you’re keen and understand the risks, I’d go have to go with The Bitcoin Fund, as I’m not comfortable adding another layer of volatility with a cryptocurrency miner. That said, if you’re a trader looking for maximum upside, HIVE may be the better bet.

Should you invest $1,000 in Walmart right now?

Before you buy stock in Walmart, consider this:

The Motley Fool Stock Advisor Canada analyst team just identified what they believe are the Top Stocks for 2025 and Beyond for investors to buy now… and Walmart wasn’t one of them. The Top Stocks that made the cut could potentially produce monster returns in the coming years.

Consider MercadoLibre, which we first recommended on January 8, 2014 ... if you invested $1,000 in the “eBay of Latin America” at the time of our recommendation, you’d have $21,345.77!*

Stock Advisor Canada provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month – one from Canada and one from the U.S. The Stock Advisor Canada service has outperformed the return of S&P/TSX Composite Index by 24 percentage points since 2013*.

See the Top Stocks * Returns as of 4/21/25

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Joey Frenette has no position in any of the stocks mentioned. David Gardner owns shares of Tesla. Tom Gardner owns shares of Tesla. The Motley Fool owns shares of and recommends Tesla.

Confidently Navigate Market Volatility: Claim Your Free Report!

Feeling uneasy about the ups and downs of the stock market lately? You’re not alone. At The Motley Fool Canada, we get it — and we’re here to help. We’ve crafted an essential guide designed to help you through these uncertain times: "5-Step Checklist: How to Prepare Your Portfolio for Volatility."

Don't miss out on this opportunity for peace of mind. Just click below to learn how to receive your complimentary report today!

Get Our Free Report Today

More on Stocks for Beginners

Silver coins fall into a piggy bank.
Stocks for Beginners

Where I’d Invest My Savings in the TSX Today

If you have some savings ready to invest, then these three investments are top choices among analysts.

Read more »

path road success business
Dividend Stocks

How to Invest $50,000 of Tax-Free Cash as Canada-US Trade Uncertainty Escalates

Few Canadian stocks are as easy a choice as this one, making it perfect during volatile periods.

Read more »

Printing canadian dollar bills on a print machine
Dividend Stocks

Got $25,000? Turn it Into $250,000 in a TFSA as the Canadian Dollar Rises

Investing doesn't have to be risky or difficult, especially with this top stock.

Read more »

Oil industry worker works in oilfield
Dividend Stocks

Invest $20,000 in This TSX Stock for $1,519.76 in Passive Income

So you want some passive income? Consider this top TSX stock.

Read more »

Blocks conceptualizing Canada's Tax Free Savings Account
Stocks for Beginners

TFSA: Invest $10,000 in Rogers Sugar Stock, Create $641.52 in Annual Passive Income

Do you want a surprising dividend stock for annual income? Then this stock looks perfect.

Read more »

dividends can compound over time
Dividend Stocks

Is Fiera Stock a Buy for its Dividend Yield?

Fiera stock has one amazing dividend yield right now, but what else should investors consider?

Read more »

Technology
Stocks for Beginners

Top Canadian Stocks to Buy With a $7,000 Investment Today

So, you want to put that money to work? Don't overcomplicate things and instead invest in these top choices.

Read more »

A solar cell panel generates power in a country mountain landscape.
Energy Stocks

How I’d Invest $20,000 in Canadian Renewable Energy Stocks to Become Financially Independent

Renewable energy stocks remain some of the best future investments, and these three already show strength.

Read more »