10 crypto-centric stocks that could see significant growth soon
Bitcoin is the most dominant and influential cryptocurrency in the world, with a market capitalization of above US$1 trillion and a price of over $40,000 as of December 6, 2023. The digital asset has been on a remarkable rally since the beginning of the year, driven by various factors, such as institutional adoption, regulatory clarity, innovation, and network effects. However, Bitcoin is not the only way to invest in the crypto space, as many other stocks are directly or indirectly involved in the industry and could benefit from the increasing price and popularity of Bitcoin and other digital assets. These stocks could offer investors exposure and diversification to the crypto space, as well as potential growth and returns in the future. In this article, we will explore ten crypto-centric stocks that could explode after Bitcoin’s surge.
- Marathon Digital Holdings (MARA): Marathon Digital Holdings is one of the largest Bitcoin miners in North America. The company has been increasing its production capacity in recent months, and it is well-positioned to benefit from Bitcoin’s rising price.
- Riot Blockchain (RIOT): Riot Blockchain is another major Bitcoin miner with a strong track record of growth. The company is increasing its operations in new markets, and it is also developing its blockchain technology.
- MicroStrategy (MSTR): MicroStrategy is a business intelligence company that has made Bitcoin its primary treasury reserve asset. The company has purchased over $5 billion worth of Bitcoin, and it is committed to holding the cryptocurrency for the long term.
- Silvergate Capital (SI): Silvergate Capital is a digital currency bank that provides financial services to institutional investors in the cryptocurrency market. The company is well-positioned to benefit from the growth of the institutional cryptocurrency market.
- Coinbase (COIN): Coinbase is a foremost cryptocurrency exchange that permits users to sell, buy, and trade cryptocurrencies. The company is benefiting from the surge in interest in cryptocurrencies, and it is also expanding its product offerings.
- Galaxy Digital Holdings (GLXY): Galaxy Digital Holdings is a diversified cryptocurrency company with a focus on institutional investors. The corporation offers a wide choice of services, including investment banking, asset management, and trading.
- Block (SQ): Block, formerly known as Square, is a financial services company that is expanding into the cryptocurrency market. The company has developed a Bitcoin-focused business unit, and it is also integrating Bitcoin into its Cash App.
- PayPal (PYPL): PayPal is a global online payments company that is also expanding into the cryptocurrency market. The company lets users buy, sell, and hold cryptocurrencies, and it is also integrating Bitcoin into its checkout process.
- Tesla (TSLA): Tesla is an electric vehicle company that has invested $1.5 billion in Bitcoin. The company is considering accepting Bitcoin as payment for its vehicles, and it could also use Bitcoin to pay for its suppliers.
- Bank of America (BAC): Bank of America is one of the largest banks in the United States, and it is actively researching the potential of cryptocurrencies. The bank is developing its blockchain technology, and it is also exploring ways to use cryptocurrencies to improve its payment infrastructure.