Best Crypto Related Stocks

Read our Advertiser Disclosure.
Contributor, Benzinga
February 28, 2024

MicroStrategy (NASDAQ:MSTR)

MicroStrategy Inc is a provider of enterprise analytics and mobility software. It offers MicroStrategy Analytics platform that delivers reports and dashboards and enables users to conduct ad hoc analysis and share insights through mobile devices or the Web; MicroStrategy Server, which provides analytical processing and job management. With 114,042 total bitcoin, MicroStrategy is the public company with the highest amount of bitcoin in the world. Initially, MicroStrategy purchased 3.16 billion dollars worth of bitcoin, which is now worth over $7,113,175,899, accounting for 0.543% of the total bitcoin supply.  

$1022.00
59.05[6.13%]
Last update: 4:20AM (Delayed 15-Minutes)
Get Real Time Here
Open-Close-
Vol / Avg.5.735K / 1.391MMkt Cap17.341B
Day Range- - -52 Wk Range188.300 - 1.009K

Tesla (NASDAQ:TSLA)

Founded in 2003 and based in Palo Alto, California, Tesla is a vertically integrated sustainable energy company that also aims to transition the world to electric mobility by making electric vehicles. The company sells solar panels and solar roofs for energy generation plus batteries for stationary storage for residential and commercial properties including utilities. Tesla has multiple vehicles in its fleet, which include luxury and mid-size sedans and crossover SUVs. Owning over 48,000 bitcoin, Tesla is ranked second among all public companies regarding the amount of bitcoin that these companies possess. Initially, Tesla purchased 1.5 billion dollars worth of Bitcoin, which is now worth over $2,993,918,408, accounting for 0.229% of the total bitcoin supply. 

$202.26
0.22[0.11%]
Last update: 4:20AM (Delayed 15-Minutes)
Get Real Time Here
Open-Close-
Vol / Avg.71.027K / 110.957MMkt Cap644.156B
Day Range- - -52 Wk Range152.370 - 299.290

()

Galaxy Digital Holdings Ltd is a diversified financial services and investment management company dedicated to the digital assets and blockchain technology industry. The company operates through four business lines: trading, principal investing, asset management, and investment banking. Galaxy Digital Holdings holds over 16,402 bitcoin, which is third in the total amount of bitcoin that public companies own globally. Initially, Galaxy Digital Holdings purchased 134 million dollars worth of Bitcoin, which is now worth over $1,023,046,870, accounting for 0.078% of the total bitcoin supply.  

Open-Close-
Vol / Avg.- / -Mkt Cap-
Day Range- - -52 Wk Range- - -

Block (NYSE:SQ)

Founded in 2009, Square provides payment acquiring services to merchants, along with related services. The company also launched Cash App, a person-to-person payment network. Square has operations in Canada, Japan, Australia, and the United Kingdom; about 5% of revenue is generated outside the U.S. Micron occupies a large chunk of the total bitcoin supply as it owns 8,027 total bitcoin, ranking fourth among bitcoin ownership among public companies. When Square entered the bitcoin market, it bought 220 million dollars of bitcoin, now worth over $500,670,481 or .038% of the total global bitcoin supply.

$78.75
0.33[0.42%]
Last update: 4:00AM (Delayed 15-Minutes)
Get Real Time Here
Open-Close-
Vol / Avg.760.000 / 11.615MMkt Cap48.486B
Day Range- - -52 Wk Range38.850 - 83.290

Cryptocurrency is a decentralized, digital medium of exchange that is based on blockchain technology. Nothing like the U.S. Dollar, Yen, or any other traditional form of currency, there is no central authority that controls the value of cryptocurrency, which has not only led many popular figures in the finance world to be skeptical about it but also caused an abundance of investors to demand cryptocurrencies more and more as time goes on.  That's why it's so important to know the best crypto-related stocks for investing.

Stocks in the cryptocurrency sector, similar to cryptocurrencies, have broadly outperformed the S&P 500. For example, Riot Blockchain (NASDAQ: RIOT) has had a 657% return, while Bitcoin has accumulated approximately a 400% return over the past year. On the other hand, the S&P 500 has had a 23.88% return in the last 52 weeks. 

Here are the cryptocurrency stocks with the largest total amount in Bitcoin holdings right now.

  • Micro Strategy, Inc.
  • Telsa
  • Galaxy Digital Holdings Ltd
  • Square

Overview: Crypto Stocks

More investors are turning to cryptocurrency stocks as a safer route to enjoy the long-term upside from cryptocurrencies without exposing their portfolios to the volatility of individual cryptocurrencies. Some of these stocks include players in the semiconductor, payments and brokerage companies that have exposure to the cryptocurrency value chain.

Best Online Brokers for Crypto Stocks

If you’re looking to buy or trade crypto stocks, you can do so online from the comfort of your home. Yes, it's that easy. All you need is a broker. With so many different options to choose from, we have researched and compiled a list of some of the best brokers out there.

Features to Look for in Crypto Stock

  1. Earnings growth pattern

Look at trends in earnings growth. Do the company's earnings increase over time? It's okay to buy a crypto stock because of its perceived value or future growth prospects. Still, if the earnings do not increase even slightly over a long period, this can spell doom for an investor. You can use the ratio of earnings per share to calculate the profitability of the stock. Earnings per share are calculated by dividing the company's net income by its total number of outstanding shares. Companies with higher earnings per share have better profitability over time.

  1. Leadership

How well do you trust the leadership of the company? Before buying any stock, you must consider the people at the company's helms of affairs. Effective leadership gives room for the kind of innovation, flexibility, and stability necessary for growth.

  1. Long-term strength and stability

The crypto market is generally volatile, and all assets at some point in time rise and dip. So what is most important is long-term strength and stability — look out for a company that can weather the storm and come out relatively strong. A stable company will most likely have effective leadership, low debt ratio and revenue growth.

Are Crypto Stocks a Good Investment?

The answer is yes. But you need to understand that some of these companies' financial prospect and business performance is inherently tied to the price of cryptocurrencies, which is volatile. 

The volatility of digital currencies may dim the outlook on some of these companies' stocks. However, volatility of cryptocurrencies aside, investing in companies that enable the crypto ecosystems to function is a surer, more lucrative way to profit from the latest optimism on digital currencies.

The reason is that there are currently more than 2,000 different cryptocurrencies, and finding the next significant crypto asset might be a gamble. However, this shouldn't be misconstrued as investment advice. You need to apply due diligence and seek expert opinion before making investment decisions. 

If you’re looking for affordable stocks to add to your investment portfolio, the stock market has become more accessible with respect to the price required to buy a unit of a company's share. As such, an average person with $5 can buy some company's shares. Strictly speaking, there are stocks selling under $20, $10 and $5, which might turn out to be a reasonable add-on to your investment portfolio.

Frequently Asked Questions

Q

What are crypto related stocks?

A

Crypto related stocks are shares in companies that are related to the crypto industry.

Q

Are crypto related stocks good investments?

A

While there have been some volitility in crypto-related stocks, they can still be a good investment if you do sufficient research.

Q

What are the best crypto-related stocks?

A

Benzinga offers a list above of the  best crypto-related stocks.