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.

You can watch our full August Trading Strategies roundtable here. Or, check out more of our experts' August advice at:

This article was written by a staff member of TheStreet.

More from Currencies

Bank of England Holds Rates Steady, But Vote Shift Signals Hawkish Tone

Bank of England Holds Rates Steady, But Vote Shift Signals Hawkish Tone

Bitcoin Today: Prices Close to Flat in Low-Volume Trading

Bitcoin Today: Prices Close to Flat in Low-Volume Trading

Markets Wobble as U.S. Readies More China Tariffs

Markets Wobble as U.S. Readies More China Tariffs

Watch These Two Crypto Experts Fiercely Debate the Future of Regulation

Watch These Two Crypto Experts Fiercely Debate the Future of Regulation

Bitcoin Today: Prices Attempt to Rally Following Early Weakness

Bitcoin Today: Prices Attempt to Rally Following Early Weakness