From Nasdaq: 2024-05-22 06:01:00

Bitcoin continues to be a top-performing asset, with a 60% increase year-to-date and a nearly 150% gain over the past twelve months. Two major bullish catalysts ahead: Bitcoin halving event and institutional adoption through Bitcoin ETFs. Crypto-related stocks like Coinbase, Robinhood, and MicroStrategy are poised for growth in the second half of 2024.

Coinbase, the leading crypto exchange in the U.S., boasts a Zacks Rank #1 (Strong Buy) with impressive financials, including $1.6 billion in total revenue and $1.2 billion in net income for Q1. Robinhood, known for its app that democratized trading, also saw strong earnings, experiencing record net deposits and solid growth in equities trading volume.

MicroStrategy, a provider of business intelligence software, is a leveraged Bitcoin bet led by former CEO Michael Saylor. The company’s adoption of the “Bitcoin Standard” has paid off with over 1,000% growth in the past five years. Those interested in a less risky option can consider the IBIT ETF, which provides exposure to Bitcoin’s potential upside.

Looking ahead to the second half of 2024, experts recommend investing in crypto-related stocks like Coinbase, Robinhood, and MicroStrategy to tap into the continuing Bitcoin bull market. Coinbase and Robinhood have shown impressive financial performance with strong gains in revenue and net income, making them attractive options for investors seeking exposure to the cryptocurrency market.

Read more at Nasdaq: Zacks Investment Ideas feature highlights: Coinbase, Robinhood, Reddit, GameStop and MicroStrategy