Buying and investing in cryptocurrencies can be dangerous. There are thousands of different digital currencies out there, and deciding which one will be the next big thing is anyone's guess. Even a big name like Bitcoin might not be a foolproof investment, especially as countries tighten rules around the industry (some have even banned cryptocurrencies altogether).
Instead of risking your money on digital currencies, you can invest your money in safer growth opportunities. Telehealth and cannabis are examples of sectors that are growing rapidly in value. You may not see your money double or triple in a short time like you might with crypto, but in the long run they can make better investments.
Cannabis is still in its infancy
Cannabis shares similarities with crypto in that it is a relatively new investment opportunity that has only recently gained momentum. Even today, many large cannabis companies cannot trade on a major US exchange. Marijuana growers in several states in the United States are breaking federal laws, as cannabis remains banned in the country. And so, they have to negotiate over-the-counter.
Many, like Curafeuille Holdings (CURLF 0.60% ) also trade on the Canadian Securities Exchange, a less popular exchange in Canada than the Toronto Stock Exchange, which also doesn't want companies that engage in illicit activity. .
Federal legalization of cannabis in the United States is not imminent, and it could be years before anything happens on that front. But the federal government has actually (unofficially) allowed cannabis producers to sell marijuana in states that have allowed its use. It creates a murky situation, but there's no reason at this point to suggest that's going to change.
And as more and more states legalized marijuana, cannabis companies generated fantastic numbers. Curaleaf expects its sales to potentially hit $1.5 billion this year, up from $1.2 billion in 2021. A few years earlier, in 2019, the company only recorded $221 million in sales. sales.
And there is more growth to come. Cannabis research firm BDSA predicts the global industry will be worth $35 billion this year, and by 2026 that figure will top $61 billion.
Growth opportunities are significant here, and with a company like Curaleaf growing and generating positive cash flow from operations (totaling $57.4 million in the first three months of 2022), investors have excellent way to take advantage of this growth.
And if you want more diversification, you can invest in more cannabis stocks through an exchange-traded fund (ETF) like the AdvisorShares Pure US Cannabis ETF . But if cannabis is still a little risky for you (the cannabis ETF has fallen 73% in the last year, and even Curaleaf has fallen 64% on concerns over the lack of marijuana reform), then there's an even safer option to consider: telehealth.
Telehealth seems incredibly underrated
Over the past year, shares of the Global X telemedicine and digital health ETF have fallen 34%, underperforming the S&P 500 during this period, which fell 11%. This is proof that investors may be ignoring the sector right now, potentially dismissing its long-term opportunities. Unlike cannabis, it is not an illicit federal industry.
Analysts expect big things from the segment. Grand View Research forecasts the global telehealth market to grow at a compound annual rate of 36.5% and reach a value of over $787 billion by 2028. Fortune Business Insights is somewhat less bullish, forecasting that the market will be worth around $636 billion by this year. However, this predicted compound annual growth is still impressive at over 32%.
Telehealth has significant potential, and even top health insurer UnitedHealth Group is moving towards using virtual visits to help cut costs.
Through the Global X Telemedicine ETF, investors can access some of the best stocks in the industry, including Teladoc Health, American Wells and Doximity .
Both of these options are better than crypto
A challenge with crypto is that it is highly speculative; determining what Bitcoin and other cryptocurrencies are worth is difficult as the industry as a whole remains a question mark. The recent volatility reminds us how fast things can go south. It's like investing in an industry that depends on a commodity that can fluctuate incredibly quickly and without warning.
Although cannabis and telehealth stocks haven't fared very well lately, there is less risk in these industries as a whole, especially over the long term.
READ MORE: 8 Indicators That Precede A Bitcoin Low (https://brokeredbusiness.blogspot.com/2022/07/8-indicators-that-precede-a-Bitcoin-low.html)
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