Mike Sakuraba graduated with double major of English and Economics. Part time writer, part time investor, full time dad. Mike loves writing about technology, sports, and investing.

2024-01-06 11:30

24 Assets to Invest in for 2024 Part 1

This year is no different and with so many different types of assets coming to the mainstream, I thought I’d start this list out with some alternative asset types. This list will include cryptos, stocks, ETFs, and anything else I am considering for the coming year.

Bitcoin

I don’t know if any asset is more important in 2024 than Bitcoin. I’m not saying this like a fanatical Bitcoin cultist, I’m saying it as someone who has a keen eye on most asset markets. The approval of spot Bitcoin ETFs will be a game changer for the industry, there is no doubt about that. We’re also approaching the next Bitcoin halving event in April and we’re finally emerging from the crypto winter that almost destroyed the industry. Failures from Terra Luna, FTX, and 3 Arrows Capital saw the fall of some of the best-known crypto icons in the world. But somehow, through all of that, we’re back and stronger than ever. If you can study one asset class this year it should be Bitcoin. If you already know about it, then you should buy some, or buy some more. The institutions are coming for every last Bitcoin so get some while you can!

Solana

The first two assets for 2024 are cryptos. Absolutely. If you haven’t heard, Solana is back and better than ever. Solana has gained more than 700% this year and is now the fifth-largest cryptocurrency by market capitalization. So what is so special about Solana? First of all, Solana is completely different from Bitcoin in almost every way imaginable. Bitcoin is mostly used as a store of value and a deflationary asset. Solana has smart contracts similar to Ethereum and has been a massive hit in the DeFi or Decentralized Finance space. It can handle millions of transactions per second with minimal gas fees for transactions making it the ideal DeFi network for crypto traders. Solana has proven it can handle a large network volume now and I believe it has the opportunity to at least challenge Ethereum as the largest DeFi network in the industry.

SoFI (NASDAQ: SOFI)

I might get some pushback on this one and that’s fine. SoFi is a very polarizing stock on social media and for good reason. It’s an online bank, which doesn’t really impress a lot of people. It was also a SPAC from Chamath, which immediately raised the ire of many investors. But for all the negativity, SoFi has some very strong catalysts working for it this year. It anticipates reaching GAAP profitability this quarter and will look to continue growing its revenue by double digits in each sequential quarter. This is a long-term play, but SoFi’s stock has been beaten down by negative analysts and weakness across the fintech sector. I wouldn’t be surprised if in ten years from now, SoFi is a leader in the fintech space and is even paying out a cash dividend to its shareholders. At just over $8.00, I’ll buy now and hold it through the ups and downs for years.