These 3 ASX shares invested in Bitcoin before Tesla (NASDAQ:TSL)

Some ASX shares were investing in Bitcoin long before Elon Musk decided Tesla would invest US$1.5 billion. Here’s a look at three of them.

| More on:
big orange cryptocurrency bitcoin being held up by hand

Image source: Getty Images

Yesterday, The Wall Street Journal noted that Bitcoin (CRYPTO: BTC) adoption continues to remain slow due to the historic volatility of the cryptocurrency market and the impracticality of executing day-to-day transactions.

But with Elon Musk having just thrown a US$1.5 billion investment at Bitcoin via Tesla Inc (NASDAQ: TSL), the ‘B’ word is once again on many investors’ lips.

While Tesla may be hogging all the limelight when it comes to investing in Bitcoin, these 3 ASX shares have been in the game for a while. Let’s take a closer look.

3 ASX shares with exposure to Bitcoin

RAIZ Invest Ltd (ASX: RZI)

RAIZ Invest provides financial services and products through its micro-investing platform. Users can select from various investment options using the RAIZ mobile application or through the RAIZ website in Australia, Indonesia and Malaysia.

One of RAIZ’s investment options is its Sapphire Portfolio which includes a 5% target allocation to Bitcoin.

First announced in May 2020, CEO George Lucas commented:

Although this latest portfolio offering from RAIZ is very high risk, feedback from many customers has clearly shown that they have an appetite for an investment strategy that has an exposure to cryptocurrencies, and the Sapphire portfolio has been designed with this in mind.

The RAIZ share price has gained more than 150% over the past six months. Today, RAIZ shares jumped 1.75% higher to $1.74. The company has a current market capitalisation of around $127 million.

DigitalX Ltd (ASX: DCC)

DigitalX is a technology and investment company specialising in blockchain application development and digital asset management services.

The company currently offers two cryptocurrency investment products, the DigitalX Bitcoin Fund and the DigitalX Digital Asset Fund.

DigitalX promotes its 7-year track record of managing Bitcoin investments and other digital assets.

According to its latest quarterly report, DigitalX held 215.95 Bitcoins as of 31 December 2020.

The DigitalX share price has delivered gains of around 110% over the past six months and closed today’s session at 7.6 cents.

Fatfish Group Ltd (ASX: FFG)

Fatfish is a tech venture firm with investments in Australasia and Europe. The company has Bitcoin exposure via its Sweden-based subsidiary Abelco Investment Group.

Through Abelco, Fatfish is invested in the cryptocurrency and blockchain ventures Minerium and Kryptos-X.

Minerium is a crypto mining technology firm that runs large-scale crypto mining centres around the world. Launched in October 2017, Minerium is focused on improving crypto mining efficiency by operating in international locations, such as Mongolia and Canada, where low-cost energy is readily available.

Kryptos-X is a Singapore-based digital asset trading platform and is a subsidiary of XBourse Global. 

In addition to Bitcoin, Fatfish also has an investment in Singapore-based company Smartfunding. Smartfunding is in the process of launching a new online platform in the buy now, pay later (BNPL) space. Unlike other BNPL players such as Zip Co Ltd (ASX: Z1P)Sezzle Inc (ASX: SZL) and Afterpay Ltd (ASX: APT), Smartpay’s platform will primarily target corporate customers across Singapore and Southeast Asia. The platform will enable customers to pay for purchases of up to S$1 million over 12 to 24-month instalments. 

Fatfish recently announced that Smartfunding will officially launch next Thursday 18 February.

Closing today’s session at 3.6 cents, the Fatfish share price has gained 260% over the past six months.

Foolish takeaway

Blockchain technology, and the cryptocurrency market it gave life to, isn’t new. Digital currency investors like RAIZ, DigitalX, Fatfish, and many others around the world, have been buying Bitcoin long before Elon Musk tweeted about it.

With Bitcoin presently trading at around $46,263, retail investors will need to form their own opinions on whether an investment here makes good long-term sense.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of January 12th 2022

Gretchen Kennedy has no position in any of the stocks or cryptocurrencies mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends Tesla. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of ZIPCOLTD FPO. The Motley Fool Australia's parent company Motley Fool Holdings Inc. recommends Sezzle Inc. The Motley Fool has no position in any cryptocurrencies mentioned. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Sezzle Inc. The Motley Fool Australia has no position in any cryptocurrencies mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News

ASX shares upgrade buy Woman in glasses writing on buy on board
Broker Notes

2 ASX shares to buy in the current bloodbath

The fear of US interest rates heading upwards has well and truly wafted across the Pacific, sending the S&P/ASX 200 …

Read more »

Female scientist working in laboratory
IPOs

Firebrick Pharma (ASX:FRE) is floating on the ASX today. Here’s what you need to know

Key points Firebrick Pharma will debut on the ASX at 12:30pm AEDT today The company is developing a nasal spray …

Read more »

A man activates an arrow shooting up into a cloud sign on his phone, indicating share price movement in ASX tech shares
Share Market News

Is the Betashares Nasdaq 100 ETF (ASX:NDQ) an opportunity in this market correction?

Could the Betashares Nasdaq 100 ETF (ASX: NDQ) be a good opportunity during this correction for both the global share …

Read more »

A woman shouts through a megaphone.
Share Market News

2 ASX growth shares to buy in February with 40% upside

If you’re looking to make some additions to your portfolio in February, then the two ASX shares listed below could …

Read more »

2 workers standing in front of a wind farm giving a high five.
Opinions

ASX shares set to conquer the carnage: expert

It’s been a depressing ride for investors this month as the S&P/ASX 200 Index (ASX: XJO) has plunged more than …

Read more »

mining worker making excited fists and looking excited
Resources Shares

Is the BHP (ASX:BHP) share price a buy in all of this volatility?

Key points The BHP share price has been outperforming the ASX 200 in 2022 Iron ore continues to rally higher, …

Read more »

Business woman watching stocks and trends while thinking
Share Market News

5 things to watch on the ASX 200 on Friday

On Thursday, the S&P/ASX 200 Index (ASX: XJO) fought hard and was able to record a small gain. The benchmark index rose …

Read more »

share price plummeting down
52-Week Lows

3 buy-rated ASX shares that just hit 52-week lows

With the market under significant pressure this month, a good number of shares are trading at 52-week lows. While this …

Read more »