7 Best Cryptocurrency Stocks to Buy

Explore these top crypto stocks to buy.

Many eyes are on cryptocurrencies‘ rises and falls as their popularity grows. Cryptocurrencies are more volatile than stocks, but that’s not necessarily a bad thing. Given that the crypto market is newer, massive price swings have become a feature of the asset. For investors who want exposure to digital currencies without, or in addition to, directly investing in coins, one avenue is buying stocks that are either financially tied to crypto assets, support making the blockchain network more efficient or operate in the crypto market in some capacity. Here are seven popular stocks that are making waves in the crypto world.

MicroStrategy Inc. (ticker: MSTR)

MicroStrategy is a data analytics firm, but given its increasing allocation to Bitcoin on its balance sheet, MSTR can be thought of as a proxy for Bitcoin. That is why this company immediately comes to mind as a top cryptocurrency stock. MicroStrategy is among the top publicly traded companies that owns and keeps buying large amounts of Bitcoin. The company announced in December 2021 that it purchased roughly 1,914 Bitcoins for about $94 million in cash. In January, the company bought an additional 660 Bitcoins, worth roughly $25 million. The company now owns more than 122,000 Bitcoins. Michael Saylor, chairman and CEO of MicroStrategy and outspoken Bitcoin supporter, is hosting an event called “Bitcoin for Corporations” to discuss the benefits of incorporating Bitcoin into corporate initiatives.

Tesla Inc. (TSLA)

Another public company that can be viewed as a cryptocurrency play is electric car company Tesla. It is clear that Tesla believes in the digital asset class’s future potential since it holds a good chunk on its balance sheet, amounting to more than 42,000 Bitcoins. So investing in Tesla can be one way to get exposure to cryptocurrency without directly buying crypto. In January, Tesla announced that it will accept the altcoin Dogecoin (DOGE) for some merchandise on its website, though consumers can’t use the meme coin to buy Tesla vehicles.

Coinbase Global Inc. (COIN)

Coinbase is a cryptocurrency exchange where users can buy, sell and store their cryptocurrency on its platform. The company’s mission is to increase participation in the crypto economy, so it can be seen as a cryptocurrency stock that can take advantage of whatever the next hot coins are. Roughly 73 million users across more than 100 countries use this crypto exchange. COIN is focused on growing its digital products. The company invests in a series of crypto projects, including Compound, BlockFi, Etherscan and many others, showing a commitment to creating an open financial system through digital assets. Cryptocurrency is still in the early stages of adoption and development, so COIN can be a solid long-term investment as the crypto market continues to grow.

Block Inc. (SQ)

Block Inc., formerly named Square, has a number of businesses, referred to as the company’s “building blocks,” to create economic empowerment for its audiences. Block’s business includes Square, which helps businesses accept quick and secure payments through Cash App, a mobile payment service that allows users to transfer money; Spiral, a segment focused on open-source Bitcoin projects; Tidal, a global music and entertainment platform; and TBD, a decentralized peer-to-peer crypto exchange. Block CEO Jack Dorsey is a Bitcoin bull who sees the world’s most popular crypto as the currency of the internet. Investing in Block allows investors to put their dollars in a company whose executives are focused on strengthening the crypto ecosystem. Before the Bitcoin drop in early 2022, Block reported Bitcoin revenue of $1.81 billion in the third quarter of 2021, up 11% year over year.

PayPal Holdings Inc. (PYPL)

A competitor to Square’s Cash App, PayPal is a global online payments system that allows money transfers and a variety of ways for people to get paid. Users can also buy and sell cryptocurrency on PayPal. This is a step for PayPal to make crypto an important part of its business. Most recently, it was reported that PayPal is exploring the development of its own stablecoin, potentially called PayPal Coin. Stablecoins are cryptocurrencies pegged to an underlying asset like the U.S. dollar and help users manage the volatility in crypto markets. PayPal also owns Venmo, another popular mobile payment service that allows users to purchase digital assets such as Bitcoin, Ethereum and Litecoin. The platform’s crypto offerings are available to hundreds of millions of users.

Marathon Digital Holdings Inc. (MARA)

Marathon Digital is the largest Bitcoin mining company in North America. Mining verifies transactions, secures the blockchain and enables new Bitcoins to come into the market. Marathon is on track to deploy 133,000 Bitcoin miners. The crypto mining company’s growth has been driven by its investment in miners to increase the hash rate, or the speed of mining, to make Bitcoin production more efficient and increase profitability. The company exhibits impressive production of self-mined Bitcoin for 2021, with an 846% year-over-year increase. MARA also has a strong balance sheet with more than $640 million in total liquidity. Marathon also maintains a focus on sustainability and the environment by using renewable energy providers for its energy-intensive mining operations. It aims to be 100% carbon neutral by the end of 2022.

Nvidia Corp. (NVDA)

Investors looking for a long-term crypto stock play should consider Nvidia Corp. Nvidia is a graphics processing unit, or GPU, manufacturer, making chips to power devices consumers use every day. But much of its profitability comes from graphic cards made for gaming. As cryptocurrencies grew in popularity, Nvidia announced a new product: GPUs specifically for crypto mining. These devices are designed for professional miners to create more efficiency in mining operations. Nvidia has industry-leading graphic cards for crypto mining to allow for a high hash rate by using as little electricity as possible. Nvidia is a $600 billion company, and its shares are up more than 80% over the past year despite a swoon in recent weeks.

The best crypto stocks to buy:

— MicroStrategy Inc. (MSTR)

— Tesla Inc. (TSLA)

— Coinbase Global Inc. (COIN)

— Block Inc. (SQ)

— PayPal Holdings Inc. (PYPL)

— Marathon Digital Holdings Inc. (MARA)

— Nvidia Corp. (NVDA)

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