Momentum seekers in the market can’t help but look to Bitcoin for wealth these days. This cryptocurrency and others even related to the industry have seen massive growth in the past few months. After a year of growth in 2020 for many tech stocks, investors want that same rush they got last year.
But if you’re looking to Bitcoin, it’s a risk. The valuation simply rides on what people believe its value to be. This is why Warren Buffett and others aren’t exactly on the side of Bitcoin.
Even still, it looks like the future is headed that way. However, if you’re wanting less risk but plenty of rewards, there’s another stock I would consider before Bitcoin.
Ballard over Bitcoin
While it might not be as sexy as Bitcoin or even electric vehicle (EV) companies like Tesla, Ballard Power Systems (TSX:BLDP)(NASDAQ:BLDP) has finally hit its stride. The company and its hydrogen fuel cell technology aren’t looking to take over the personal vehicle industry. Instead, it’s looking bigger.
Ballard Power hopes to become the go-to for trucking, municipal transit buses, railways, and shipping in the new EV age. Hydrogen power can apply more than 60% of energy to vehicle propulsion. And it looks like the company has finally got that chance.
The company already has several large partnerships with companies like Ford and Daimler AG. These companies alone have invested millions into Ballard. However, with Tesla available shares in the company slumped until recently. Ballard stock instead switched gears to heavy-duty vehicles. It’s this avenue that should create major revenue now.
There are about four million commercial truck sales each year around the world. Nearly half of them are in China. The immense growth in this country leaves opportunities for companies like Ballard. That’s especially as China is also the largest consumer and producer of EVs.
Ballard already secured a $163 million deal with Weichai Power Co. back in 2018, becoming its largest shareholder with 15% stake in the company. But that investment has paid back huge with a joint venture that commissioned the production of 20,000 hydrogen fuel cell stacks per year.