Small investors who don't feel comfortable buying bitcoin can play the cryptocurrency craze by investing in Nvidia NVDA, TheStreet's Stephen Guilfoyle says.
Guilfoyle told TheStreet's monthly Trading Strategies roundtable that NVDA is "one of the winners" of the cryptocurrency phenomenon. He said that while the company isn't directly involved in bitcoin, many players in the emerging industry use Nvidia chips for the block-chain technology that underpins cryptocurrencies.
Guilfoyle said that makes NVDA shares, which closed Wednesday at $164.39, a better way to play cryptocurrencies than directly buying bitcoin, which trades at about $2,700 to the dollar.
"Buying a $160 stock is speculation, but buying a [$2,700] item that you can't use as a medium of exchange is too much," said Guilfoyle, who owns NVDA himself.
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