Cryptocurrencies are getting the attention of not only seasoned investors and billionaires but also of public companies. In 2023, Bitcoin, along with other cryptocurrencies and the technology powering them called blockchain, is proving to be a profitable revenue stream for many businesses.
Now might be a good time to explore investing in Bitcoin and related crypto assets if you choose to invest in them in 2024. While you can directly buy cryptocurrencies from platforms like Coinbase, there’s another interesting way of investing in Bitcoin mining companies. These companies play an important role in the crypto world.
This article will discuss 5 crypto stocks you could buy in 2024.
Coinbase Global (COIN)
Coinbase is a top platform for trading cryptocurrencies. They started trading publicly in April 2021. People use Coinbase to buy and sell major cryptocurrencies like Bitcoin, Ethereum, and Cardano.
Even when the cryptocurrency market is not doing well, Coinbase is still growing. In March 2023, they started to grow in six different parts of the world. Having a bigger market is likely to help them make more money, and this is something you might want to consider if you’re thinking about investing in crypto stocks.
Coinbase Global (NASDAQ: COIN) stock didn’t change much in the last 12 months. It stayed around the same level. After a big drop, it seems like the price is staying steady for a while. If you’re thinking about investing, now might be a good time for you to buy at $82 before it goes up.
Riot Platforms (RIOT)
Riot is known for mining Bitcoin, and they’re seen as a strong choice for a few reasons. As of Q2 2023, they had a lot of money and digital assets—$510 million worth—and they don’t owe any money. They’re big into mining Bitcoin in the U.S., and now they’re making more Bitcoin at a new place in Navarro County, Texas. This means they have a good chance to grow even more in the coming years.
Back in 2020 and 2021, when cryptocurrency prices were really high, Riot did well, evident by an increase in their stock price. But when things slowed down in the crypto world in 2021, their stock came back down to its original price.
Looking ahead, Riot has big plans to be able to mine 12.5 EH/s of Bitcoin by the end of November 2023. They bought some new MicroBT miners that should help them make even more Bitcoin. When everything is set up and working, they want to be able to mine over 20 EH/s by the middle of 2024. Right now, they have around 7,327 Bitcoins, making about 12.1 each day. With Bitcoin getting more valuable, some people think RIOT is a good stock in 2023.
For people thinking about investing, Riot Platforms (NASDAQ: RIOT) used to be worth as much as $20.7, but now it’s at $10.7. If Bitcoin keeps going up, this could mean Riot makes a lot more money, and that could be good news for people who invest in it.
Marathon Digital (MARA)
Marathon Digital Holdings, Inc. is a technology company in the digital asset space. They specialize in mining cryptocurrencies, with a particular focus on the blockchain ecosystem and creating digital assets. Established in February 2010, Marathon Digital (NASDAQ: MARA) works with Bitcoin, and its stock is currently at $9.8.
Marathon is spending a lot to make more Bitcoin. In the middle of 2023, they were making 12.1 EH/s of Bitcoin. In September 2023, they made 1,242 Bitcoins and made their machines work faster by 20%. They now have machines set up to make about 23 EH/s with 13,726 Bitcoins in their savings.
The company believes it can make a good profit if Bitcoin hits all-time highs in 2024. Right now, their stock has gone up by a lot this year, following Bitcoin’s comeback from a tough time in 2022.
Samara Asset Group
Samara Asset Group is a company that invests in the world’s emerging asset managers and Bitcoin builders. It does this by identifying individuals and companies within the space and nurturing them and their companies from their seed stage until they are in full bloom.
The company believes that the future is empowered by decentralization, with Bitcoin being in the middle of it all. Samara’s shareholders gain exposure to early-stage companies in the crypto space by owning Samara’s shares. This helps their shareholders to invest in these companies through Samara, and usher in the decentralized age.
MicroStrategy (MSTR)
In recent years, MicroStrategy (NASDAQ: MSTR), a U.S. company, has become a big supporter of Bitcoin, though their service includes helping businesses with software and cloud services.
As of October 2023, MicroStrategy owns a whopping 158,400 Bitcoins, valued at about $5.62 billion. Besides Bitcoin, they’re into artificial intelligence too. Keep an eye on MicroStrategy as they navigate the world of Bitcoin and AI.
Final Verdict
When lots of people are buying and selling cryptocurrencies, like Bitcoin, Ether, and others, another viable way to invest in the crypto space is through stocks belonging to companies like Microstrategy.
Press releases or guest posts published by Crypto Economy have sent by companies or their representatives. Crypto Economy is not part of any of these agencies, projects or platforms. At Crypto Economy we do not give investment advice and encourage our readers to do their own research.
