Bitcoin, the leading cryptocurrency, may be on the rise after hitting a recent low of $107,920 on Aug. 29 and rebounding to $112,722 on Sept. 8. Investors seeking exposure to Bitcoin without purchasing a full coin can consider alternative plays like stocks with significant Bitcoin holdings, such as Strategy, Inc. ($MSTR).

Strategy, Inc. holds 628,791 BTC on its balance sheet, valued over $70.878 billion. The stock’s market capitalization is $93.418 billion, with a share price of $329.68. Investors can gain indirect exposure to Bitcoin through such companies, although Strategy, Inc. also has an underlying software security business and significant debt.

Another way to play Bitcoin is through the Grayscale BTC Mini Trust ETF ($BTC), priced at $49.90 per share. This ETF tracks Bitcoin’s performance more directly and allows investors to benefit from its movements. Additionally, investors can utilize options strategies like selling out-of-the-money puts and calls in BTC.

By selling out-of-the-money put options on BTC stock, investors can earn immediate income. For example, selling a put contract with a $46.00 strike price can yield $90 with a breakeven price of $45.10, offering a potential 2% yield. This strategy allows investors to benefit even if Bitcoin’s price drops.

Investors can also consider buying in-the-money calls and using short out-of-the-money puts to finance the calls, providing exposure to Bitcoin’s potential upside. By leveraging options strategies, investors can participate in Bitcoin’s movements without the high cost of purchasing a full coin. However, they should be aware of the risks associated with options investing.

Using stock options can offer a more cost-effective way to invest in Bitcoin compared to buying the cryptocurrency directly. By exploring various options strategies, investors can potentially capitalize on Bitcoin’s future price movements while managing risks effectively.

Read more at Yahoo Finance: Is Bitcoin Set to Rebound? Ways to Play a BTC Cryptocurrency Turnaround