Since the Pike’s Peak gold rush in 1858, Coloradans have looked for new and unexpected ways to make money. Prospectors may be in the past, but people all over northern Colorado are finding some pretty nifty ways of getting rich—and rich they are.
Read on to learn more about these unusual investment strategies, and consider joining the rush. There’s more than enough to go around!
1. Bitcoin and Bitcoin Futures
Crypto has seen a rocky road at the end of 2022, but investors still think there’s potential in 2023 for big players like Bitcoin. These days, buying and selling bitcoin is as simple as clicking a button in your cash transfer app.
What are bitcoin futures? In short, taking a position on Bitcoin futures means you can make money even if Bitcoin loses value. You can also hedge your bets if you’ve bought a lot of Bitcoin yourself. Trading on an established futures exchange also means there’s some regulation.
Crypto has lost some stability in 2022, but that just opens up new ways to make money in 2023!
2. Real Estate Investment
Colorado has been a boom state for the past few decades—folks out east move here to enjoy good jobs, low taxes, and spectacular views. It’s pretty obvious that selling and renting to newcomers is a great way to make some money.
While house-flipping is still alive and well, more people these days are deciding to branch out to rental properties. Being a landlord can be tough, but there are a lot of financial upsides—especially in areas with a lot of population growth like northern Colorado is seeing.
And don’t worry about being alone in real estate investing. There are several active groups in northern Colorado to share tips and tricks of the trade.
If you have the budget and are willing to get your hands dirty, owning investment properties can make you money!
3. Venture Capital
Places like NYC and Silicon Valley are filled with venture capital, but more Colorado angel investors are putting money into businesses back home these days, making for a mini-boom in places like Boulder and Fort Collins.
Angel investors in the State look for new businesses that have unique ideas but a low experience.
It’s a high-risk, high-reward deal and you may only get lucky once—but the payoff can easily be six figures or more!
For those with plenty of cash and nerves of steel, venture capital investment could be very lucrative.
4. Marijuana Businesses
More and more states are figuring out what Colorado knew years ago—marijuana is an extremely high-paying product. We’ll save you the jokes about “high” profits or earning some “green”—the market space is serious and the profits prove it.
Small and large investors alike are getting in on all parts of the weed game—farms, dispensaries, and edibles. In fact, that’s where many of the early adopters made their money.
Now that the market has matured, there’s also money to be made in the industry by offering business services like finance, software services, and marketing.
Colorado’s marijuana market is more mature than Maryland or Michigan, and there’s still plenty of innovation and new products to be discovered.
Grow Your Money in Northern Colorado
There’s no shortage of ways to invest your money in Northern Colorado. The wild State has always been filled with the spirit of old prospectors, and today’s no different—where there are Coloradans, there’s innovation. And here, there’s always work to do. Colorado shows growth in the year to come. There’s money to be made, and people are here to do it!