Bitcoin fell back below $10,000 this week just some two months or so after it peaked in December at roughly $20,000, but panelists at TheStreet's March Trading Strategies roundtable with Jim Cramer aren't interested in "buying the dip."
"If I can get a real yield in U.S. Treasuries as a safe asset with U.S. dollar-denominated income, I would prefer that," said Brian Leavitt, senior investment strategist for Oppenheimer Funds. "I also like the real yields that exist in a lot of emerging markets. To me, that's tangible. It's something I can feel."
Jeff Marks, senior portfolio analysts with Action Alerts PLUS, Jim Cramer's club for investors, agreed.
"Why invest in something where you can't see a cash flow and where something [doesn't have] true earnings, a dividend -- things like that," he said. "To me, it just doesn't resonate."
And Stephen "Sarge" Guilfoyle, co-manager of TheStreet's Stocks Under $10 model portfolio and author of TheStreet's Market Recon morning newsletter, said he's more interested in stocks tied to bitcoin mining and blockchain than in bitcoin itself, like Seagate Technology (STX) and Action Alerts PLUS holding Nvidia (NVDA)
"I don't think [cryptocurrencies] are going away, but I do think they will be moved upon by the central banks," he said. "They will certainly lose their authenticity at some point as they are more highly regulated."
Click here to watch a replay of our entire March Trading Strategies roundtable for more great investing ideas and analysis.