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Forget Bitcoin! 2 Stocks That Could Be Around for Decades

Christopher Liew, CFA
·4 min read
analyze data

Bitcoin (BTC) is the lead digital currency in the crypto space. Its price, however, plunged below US$50,000 at one point during trading on April 23, 2021. The impact was nasty, because it wiped off over US$200 billion from the entire cryptocurrency market value, based on data from CoinMarketCap.

As of April 26, 2021, BTC’s price is $53,359.33, or nearly 16% lower than its peak of $63,503,46 on April 13, 2021. Nevertheless, the world’s most popular cryptocurrency is up 83.99% year to date and 593.17% higher from a year ago. The Bitcoin craze has resurrected this year, although every time the price drops, investors recall the crash in late 2017.

Rabid followers of BTC believe the unprecedented rally is not hype. On the contrary, many think it’s a fad. The top digital currency was created in 2009, or the same year the Tax-Free Savings Account (TFSA) was introduced in Canada. If you’re looking for a long-term play, there are better choices on the TSX than the digital token.

For income investors

Manulife Financial (TSX:MFC)(NYSE:MFC) dwarfs Bitcoin in terms of existence. The $51.8 billion insurance powerhouse is renowned worldwide. It has been operating since 1887 and should conduct business for decades or centuries more.

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Unlike BTC, the insurance stock is a true-blue income provider. Dividend investors and retirees draw passive-income streams from this Dividend Aristocrat. Manulife is the largest Canadian insurance company and ranks among the top 10 insurers globally.

Manulife grows its business in the U.S., Canada, and Asia through a multi-channel distribution network. Besides the diversified distribution platform, the competitive advantages include broad geographic reach, prudent risk management, and a balanced range of financial protection and wealth management solutions.

The current share price is $26.73, while the dividend yield is 4.21%. Over the medium term, management targets between 10% and 12% EPS growth and a 30-40% payout ratio. If successful, it should help Manulife sustain its dividend growth in the future.

For growth investors

Absolute Software (TSX:ABT)(NASDAQ:ABST) had humble beginnings in 1993 but is now a leader in endpoint resilience solutions. Apart from the growth potential, the tech stock pays a modest 1.76% dividend. Thus, there’s potential capital gain plus recurring dividend payments for would-be investors. The current share price is $18.31.

The $890.92 million firm boasts of the only undeletable defence platform embedded in over a half-billion devices. Absolute’s business suits the work-from-home environment perfectly. It provides IT and security organizations with complete connectivity, visibility, and control, regardless if a device is on or off the corporate network.

The company received another accolade recently. In the spring 2021 Grid Report for Endpoint Management, G2, the world’s leading business solutions review website, named Absolute a leader. Verified users of G2 also recognized Absolute as one of the top endpoint management solution providers for seven consecutive quarters. Their basis is the high levels of customer satisfaction.

Frothy cryptocurrency

Bitcoin is attracting attention again in 2021 due to its incredible surge. However, regular investors should beware. Scott Minerd from Guggenheim Partners sees a significant correction coming in the near term. Because Bitcoin is “very frothy,” he thinks the decline could be up to 50%. You’re safer investing in companies that’ll be around for decades.

The post Forget Bitcoin! 2 Stocks That Could Be Around for Decades appeared first on The Motley Fool Canada.

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Fool contributor Christopher Liew has no position in any of the stocks mentioned.

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