Prediction: These Could Be the Best-Performing Crypto Stocks Through 2030
From Nasdaq:
The crypto market is heating up as Bitcoin’s price has surged nearly 50% this year, driven by U.S. regulators approving spot price ETFs and anticipation of the upcoming halving. Ethereum’s price has also risen over 40%, with hopes of its own ETF approval and network updates. Investors are flocking back to crypto-related stocks like Coinbase, Marathon Digital, and MicroStrategy, which offer easy ways to profit from the expanding market.
Coinbase, one of the largest crypto exchanges, saw a diversification of trading volume in 2023, with significant percentages from Bitcoin, Ethereum, and other assets. Despite a slowdown due to high interest rates, soaring crypto prices are expected to reignite its growth. Analysts project revenue and earnings to grow at a steady pace, offering potential for outperformance in the market by 2030.
Marathon Digital, the largest Bitcoin miner, recorded impressive results in 2023 with a record number of bitcoins mined. It aims to consolidate the mining market and expand operations to counter challenges posed by halving rewards. Revenue is forecasted to grow significantly, especially if Bitcoin’s price continues to rise.
MicroStrategy’s shift to Bitcoin investments has transformed its trajectory, with a significant portion of its value tied to Bitcoin on its balance sheet. The company plans to continue buying Bitcoin while expanding its software services. Like Coinbase and Marathon, MicroStrategy provides indirect exposure to Bitcoin’s price appreciation and could potentially outperform the market by 2030.
Read more at Nasdaq: Prediction: These Could Be the Best-Performing Crypto Stocks Through 2030