It’s been an exciting few days for Bitcoin investors. With news that the digital currency will soon begin trading on PayPal, prices have swept to 15-month highs above $13k.
The decision to embrace Bitcoin — and the rationale behind PayPal’s decision — echoes what long-term Bitcoin bulls have been saying for years. According to PayPal chief executive Dan Schulman: “The shift to digital forms of currencies is inevitable, bringing with it clear advantages in terms of financial inclusion and access; efficiency, speed and resilience of the payments system; and the ability for governments to disburse funds to citizens quickly.”
It’s hoped that the championing of Bitcoin by one of America’s tech giants will prove a significant step in the mass adoption of crypto assets. But, as I explained recently, I’m yet to be convinced to invest in digital currencies myself. They still carry too much risk in my opinion. This is why I prefer to invest in UK shares in my Stocks and Shares ISA instead.
Better buys than Bitcoin
I don’t think that investors need to buy Bitcoin to try and ride a potentially-explosive investing trend. There are stacks of top-quality UK shares that promise to deliver stunning investor returns over the next decade. So why take a risk with cryptocurrencies? Here’s a few top growth stocks on my own ISA watchlist:
- I’m confident that Royal Mail can generate spectacular profits growth as the e-commerce market continues to swell. Britain’s oldest courier hasn’t had the best of it recently due to collapsing letters volumes and huge restructuring costs. However, the future remains bright as parcels traffic gets stronger and stronger. Latest financials showed Royal Mail shifted 177m more parcels between April and August versus the same 2019 period. And the business is launching new initiatives like home parcel collection to maximise this opportunity.
- A rise in personal hygiene and environmental cleanliness during the pandemic bodes well for Reckitt Benckiser. Surging demand for fast-moving consumer products in these areas isn’t likely to prove a flash in the pan. Procter & Gamble chief financial officer Jon Moeller commented in recent days that “there is some stickiness to new habits that are being formed and new awareness that’s being raised.” It followed news that sales of its own cleaning products continue to fly. And it’s a trend that Reckitt Benckiser, through its brands like Dettol and Lysol disinfectants and Harpic bleach is well placed to ride too.
- I believe Beyond Meat is another better way to get rich in the 2020s than by investing in Bitcoin. A cursory look around your local supermarket will reveal how popular meat-free products have become with modern consumers. And banking giant ING reckons there is much more to come. It says that the plant-based alternatives food segment in Britain and the European Union alone will be worth €7.5bn by 2025. This compares with €7.4bn last year.