Canadian response to legalisation has shown that cannabis is a huge growth industry with investment potential

Investors concerned about the volatility of Bitcoin should instead plough their funds into medical cannabis, a leading wealth adviser has urged.

Carol Pepper, CEO and founder of New York-based Pepper International, branded cannabis stocks as “the next huge growth area” laden with “staggering opportunities” in the world of medicine.

Speaking to CNBC’s Squawk Box, she explained how Canada’s legalisation of medicinal cannabis in July 2018 had “blown through all expectations” as an investor opportunity.

“If you want to be in something that’s very growthy and actually legitimate as it is legalised and controlled properly, I think this is the place to go,” she said.

Both Nasdaq and the New York Stock Exchange listed two prominent Canada-based cannabis firms soon after the regulations changed – Canopy Growth and Cronos Group.

The stock value of Canopy Growth has currently risen by more than 65 per cent, while Cronos is exceeding 115 per cent.

“The medical applications for cannabis are staggering,” added Mrs Pepper.

“The research is being done and I really think this is next huge growth area.

“I think it is a phenomenal plant that is going to do a lot of good for the planet and I’m glad it is finally being legalised.”

She went on to highlight work being done on CBD’s potential in the treatment of conditions such as arthritis and epilepsy. When asked if cannabis-derived products were likely to mirror the volatility of cryptocurrency markets, she replied with a firm rejection pointing to it being a ‘physical product with defined benefits’.