Forget Blockchain Stocks, Here is a Low-Risk Stock Canadian Investors Should Consider


The cryptocurrency space for quite some time has operated without regulation or oversight. Now, governments around the world are seeing the importance of implementing regulations as crypto services become more ingrained in financial services.

In the US, a $1 trillion bipartisan infrastructure bill is being proposed in the senate that will implement strict tax rules on digital assets. Due to the extreme volatility, investors might have to distance themselves from blockchain stocks like HIVE (TSXV: HIVE). Meanwhile, tech stock like BlackBerry (TSX: BB) (NYSE: BB) faces less risk from Bitcoin uncertainties.

BlackBerry investors are enjoying a 54.62 percent year-to-date gain. Currently, BlackBerry stock is trading at $13.03, which is about 103 percent higher than a year ago. That means an investor who placed $10, 000 in August 2020 has gained about $10, 131.99 today.

The $7.30 billion company started as a smartphone maker but transitioned into intelligent security software and service provided.

Currently, BlackBerry has partnered with private entities that include Amazon, the Canadian government, and automotive manufacturers.

The company is also planning to return to the smartphone space. BlackBerry is working on a 5G Android phone concept that could become a driver for more growth. Instead of crypto stocks, Carter Henderson, the managing director at Fort Pitt Capital Group, encourages clients to go for BlackBerry stock that is less risky.


Please enter your comment!
Please enter your name here