14 Best Blockchain Stocks to Buy Now

14 Best Blockchain Stocks to Buy Now

Exploring the top investment opportunities in the blockchain industry

In 2016, the word “blockchain” started to catch on as Bitcoin and Ethereum gained popularity. The hype around blockchain led to a surge in various cryptocurrencies and blockchain projects, with claims of revolutionizing industries. However, as interest dwindled, many projects died out, and the hype around blockchain faded. Despite this, there are still promising investment opportunities in the blockchain industry. Bitcoin, the pioneer of blockchain, continues to gain traction and is even being considered as a digital Store of Value. Additionally, the potential approval of Bitcoin Exchange Traded Funds (ETFs) by the US Securities and Exchange Commission could mark a significant milestone for the blockchain and cryptocurrency sector. While waiting for ETFs to be approved, there are several stocks that offer exposure to blockchain technology and Bitcoin. Tech giants like Microsoft, Amazon, and Alphabet have shown interest in blockchain, while chipmakers NVIDIA and Intel manufacture chips used in cryptocurrency mining. Companies like Mastercard and Visa have also expressed interest in blockchain technology, particularly in the finance sector.

Hut 8 Mining Corp (NASDAQ:HUT)

Hut 8 Mining Corp is focused on digital asset mining, particularly Bitcoin. Despite a decrease in interest from hedge funds, the company’s stock has nearly tripled since the beginning of the year. Hut 8 Mining Corp recently announced a merger with US Data Mining Group, further expanding its presence in the Bitcoin mining industry.

Cipher Mining Inc (NASDAQ:CIFR)

Similar to Hut 8 Mining Corp, Cipher Mining Inc is also engaged in Bitcoin mining. The company operates 70,000 mining rigs and has a balance of 516 Bitcoin. Despite a slight decrease in hedge fund interest, Cipher Mining Inc remains a promising investment opportunity in the blockchain industry.

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CleanSpark Inc (NASDAQ:CLSK)

CleanSpark Inc is a Bitcoin mining company that generated significant revenue in the fiscal third quarter. The company has around 89,000 rigs and has narrowed its net loss compared to the previous year. With consistent hedge fund interest, CleanSpark Inc is a notable player in the blockchain industry.

Riot Platforms Inc (NASDAQ:RIOT)

Riot Platforms Inc is another Bitcoin miner that has seen significant interest from hedge funds. The company mined over 1,000 Bitcoin in the third quarter and reported strong revenue. With a growing number of miners and a substantial balance of Bitcoin, Riot Platforms Inc is a top contender in the blockchain industry.

Coinbase Global Inc (NASDAQ:COIN)

Coinbase Global Inc operates one of the largest cryptocurrency exchanges in the US. Despite a decline in stock price since its IPO, the company has managed to beat revenue estimates for the first two quarters of its fiscal year. With consistent hedge fund interest, Coinbase Global Inc remains a prominent player in the blockchain industry.

International Business Machines (NYSE:IBM)

International Business Machines (IBM) is a leading tech company that has embraced blockchain technology. The company offers a suite of blockchain-based products, including Supply Chain Control Tower and IBM Food Trust. IBM’s involvement in blockchain has attracted interest from hedge funds, making it a noteworthy investment opportunity.

Block Inc (NYSE:SQ)

Formerly known as Square Inc, Block Inc has shown commitment to new technologies, including blockchain. The company’s CashApp platform allows users to deposit and withdraw Bitcoin, and Block Inc holds Bitcoin for itself and its customers. With various entities focused on Bitcoin development, Block Inc is a key player in the blockchain industry.

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Intel Corporation (NASDAQ:INTC)

Intel Corporation, a leading chipmaker, has ventured into blockchain technology by launching a processor dedicated to Proof-of-Work consensus networks. Although the product was discontinued, Intel Corporation’s position in the CPU market makes it a noteworthy player in the blockchain industry.

Mastercard Inc (NYSE:MA)

Mastercard Inc, a prominent payment processor, is actively involved in blockchain technology. The company offers a crypto card for everyday transactions in cryptocurrencies and has an accelerator program for blockchain projects. Additionally, Mastercard Inc is piloting a project with the Reserve Bank of Australia and the Digital Cooperative Research Centre for central bank digital currency use.

Conclusion:

While the hype around blockchain may have faded, there are still promising investment opportunities in the industry. Bitcoin continues to gain traction and could see further exposure through the potential approval of Bitcoin ETFs. Companies like Microsoft, Amazon, and Alphabet offer exposure to blockchain technology, while chipmakers like NVIDIA and Intel provide hardware used in cryptocurrency mining. Payment processors like Mastercard and Visa have also expressed interest in blockchain technology. By looking beyond the hype and understanding the inherent value of blockchain, investors can make informed decisions and capitalize on the potential of this transformative technology.