Michael Burry Just Dismissed Red-Hot Meme Coin Shiba Inu as 'Pointless' — Try These 3 Mainstream Crypto Avenues Instead

Buy crypto directly

Shiba Inu has delivered jaw-dropping returns of late. But rallying prices across the entire crypto arena have certainly helped its cause.

Both Bitcoin and Ethereum touched all-time highs in recent weeks. Meanwhile, Dogecoin has made a comeback.

And many sharp minds on Wall Street expect that momentum to continue.

Fundstrat’s Thomas Lee projected that the price of Bitcoin could go as high as $168,000 by year-end. And Ark Invest’s Cathie Wood recently told CNBC that Bitcoin could soar to $500,000 in five years.

Investors can participate by purchasing crypto coins directly.

These days, many exchanges charge up to 4% in commission fees just to buy and sell crypto. But some investing apps charge 0%.

And there’s no need to buy a whole coin. You can start with as little as $1.

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Invest in crypto ETFs

Exchange-traded funds have been a staple for many investors. They trade on stock exchanges, so it’s very convenient to buy and sell them.

Several Bitcoin ETFs launched in Canada this year, including CI Galaxy Bitcoin ETF and Evolve Bitcoin ETF.

And now, U.S. ETF investors can get a piece of the action, too.

On Oct. 19, ProShares Bitcoin Strategy ETF started trading on NYSE Arca. The fund holds bitcoin futures contracts that trade on the Chicago Mercantile Exchange.

On its first day of trading, BITO surged 4.8% and hauled in more than $570 million in assets. The launch was widely regarded as a major catalyst that drove the price of Bitcoin above the $65,000 mark.

Investors who want exposure to the crypto market can invest in these ETFs. In fact, some investing apps allow you to buy both cryptocurrencies and ETFs commission-free.

Crypto stocks

When companies tie themselves to the crypto market, their shares can move in tandem with the coins. And that presents another opportunity for investors.

First, we have crypto miners.

The computing power doesn’t come cheap and energy costs can be substantial. But if crypto keeps surging as the bulls predict, miners such as Riot Blockchain and Hut 8 Mining will likely receive growing attention from investors.

Then there are intermediaries like Coinbase and Paypal. When more and more people buy, sell, and use crypto, these platforms stand to benefit.

Finally, there are companies that simply hold a lot of crypto on their balance sheets.

Case in point: Enterprise software technologist Microstrategy has a market cap of $7.6 billion. Yet its bitcoin count reached 114,042 at the end of Q3, a stockpile worth around $7 billion.

Tesla is another bitcoin hoarder. But the company’s roughly 42,000 bitcoin stash — worth around $2.6 billion — isn’t substantial compared to its $1.2 trillion market cap.

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An artsy alternative

The volatility of cryptocurrencies is not for everyone. And even crypto stocks can make wild swings to either side.

If you want to invest in something that has little correlation with the ups and downs of the stock market and the crypto market, you might want to consider an overlooked asset: fine art.

Contemporary artwork has already outperformed the S&P 500 by a commanding 174% over the past 25 years, according to the Citi Global Art Market chart.

Investing in art by the likes of Banksy and Andy Warhol used to be an option only for the ultra-rich, like Burry. But with a new investing platform, you can invest in iconic artworks, too, just like Jeff Bezos and Bill Gates do.