S&P 500   4,145.19
DOW   32,803.47
QQQ   321.75
China July exports rise, with trade surplus at record-high
Shift in war's front seen as ships cleared to leave Ukraine
Demand for grocery delivery cools as food costs rise
What's in Democrats' big bill? Climate, health care, savings
Transit woes mount for Boston's beleaguered subway riders
Dems push Biden climate, health priorities toward Senate OK
Shift in war's front seen as grain leaves Ukraine; plant hit
S&P 500   4,145.19
DOW   32,803.47
QQQ   321.75
China July exports rise, with trade surplus at record-high
Shift in war's front seen as ships cleared to leave Ukraine
Demand for grocery delivery cools as food costs rise
What's in Democrats' big bill? Climate, health care, savings
Transit woes mount for Boston's beleaguered subway riders
Dems push Biden climate, health priorities toward Senate OK
Shift in war's front seen as grain leaves Ukraine; plant hit
S&P 500   4,145.19
DOW   32,803.47
QQQ   321.75
China July exports rise, with trade surplus at record-high
Shift in war's front seen as ships cleared to leave Ukraine
Demand for grocery delivery cools as food costs rise
What's in Democrats' big bill? Climate, health care, savings
Transit woes mount for Boston's beleaguered subway riders
Dems push Biden climate, health priorities toward Senate OK
Shift in war's front seen as grain leaves Ukraine; plant hit
S&P 500   4,145.19
DOW   32,803.47
QQQ   321.75
China July exports rise, with trade surplus at record-high
Shift in war's front seen as ships cleared to leave Ukraine
Demand for grocery delivery cools as food costs rise
What's in Democrats' big bill? Climate, health care, savings
Transit woes mount for Boston's beleaguered subway riders
Dems push Biden climate, health priorities toward Senate OK
Shift in war's front seen as grain leaves Ukraine; plant hit

5 Best Cryptocurrency Stocks to Buy Now

5 Best Cryptocurrency Stocks to Buy NowWall Street has a major crush on cryptocurrency markets that it just can't seem to get over. Stock investors look upon the massive gains earned by early Bitcoin and Ethereum investors with envy. They see the value in blockchain technology and distributed ledgers and want to get in on the action before the markets have fully priced in the impact that cryptocurrencies will have on the economy. While most investors won't put in the effort to open up an account with a private cryptocurrency exchange like Binance or Coinbase, there are still plenty of opportunities to get exposure to cryptocurrencies in the public markets.

Don't be fooled though. Publicly-traded companies know their stock price will skyrocket if they make a blockchain announcement, so companies like Long Blockchain Corp (formerly Long Island Ice Tea Corporation) are making spurious pivots into Blockchain technology to ride the hype train. Does anyone really think that an Ice Tea company will become a major player in cryptocurrency markets?

Fortunately, there are plenty of legitimate companies that stand to gain from the cryptocurrency mega-trend. Here are five cryptocurrency stocks that you might consider for your portfolio

Quick Links

  1. AMD
  2. IBM
  3. Overstock
  4. Square
  5. Microsoft

#1 - AMD (NASDAQ:AMD)

Advanced Micro Devices logoBitcoin is mined using high-end specialized hardware packages called ASICs that perform no other function than mining Bitcoin. Creators of newer cryptocurrencies like Ethereum and Dash wanted to make it so that everyone could mine cryptocurrencies, not just centralized mining facilities with specialized hardware in parts of the world with cheap electricity. They changed their hashing algorithms so that anyone with a modern computer and graphics card, like those made by AMD and Nvidia, could mine their coins. 

AMD's Radeon graphics cards are preferred by cryptocurrency miners because they offer superior hashing performance to those produced by Nvidia. By targeting their products toward miners, they have significantly expanded their potential market size by creating products that can be sold to high-end computer gamers and to cryptocurrency miners.

There are plenty of other reasons to like the company as well. AMD's revenue is now steadily growing again after years of not being able to compete with rival Intel. Analysts keep raising their price targets on the stock and their financials are looking better quarter-by-quarter. 

About Advanced Micro Devices

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. The company operates in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. Its products include x86 microprocessors as an accelerated processing unit, chipsets, discrete and integrated graphics processing units (GPUs), data center and professional GPUs, and development services; and server and embedded processors, and semi-custom System-on-Chip (SoC) products, development services, and technology for game consoles. Read More 
Current Price
$102.31
Consensus Rating
Buy
Ratings Breakdown
22 Buy Ratings, 7 Hold Ratings, 0 Sell Ratings.
Consensus Price Target
$125.93 (23.1% Upside)




#2 - IBM (NYSE:IBM)

International Business Machines logoMany of us think of International Business Machines (IBM) as a relic of times past. They no longer produce personal computers and largely sell specialized technology service to Fortune 500 companies. This might not be exciting to most, but IBM has been able to introduce and scale new technologies into the Enterprise like no one else. 

IBM is now focusing on democratic applications of the blockchain, allowing its customers to create networks, setup governance rules, invite members into the network and validate transactions. It has launched a consultancy for blockchain technologies teaching companies how to best use the technology and create their own blockchain networks. It has also launched a "blockchain accelerator" program to help guide businesses through the technical and legal ramifications of running blockchain networks.

IBM has also launched an open-source collaboration initiative called Hyperledger that hopes to expand the use of the blockchain in all industries. Hyperledger already has more than 130 member companies in industries spanning financial services, manufacturing and technology all working together to create a distributed ledger framework that is standardized and open.

About International Business Machines

International Business Machines Corporation provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions, such as Red Hat, an enterprise open-source solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity. Read More 
Current Price
$132.48
Consensus Rating
Buy
Ratings Breakdown
6 Buy Ratings, 3 Hold Ratings, 1 Sell Ratings.
Consensus Price Target
$146.10 (10.3% Upside)




#3 - Overstock (NASDAQ:OSTK)

Overstock.com logoThe markets have been kind to Overstock (OSTK) for the last several months, primarily because of its growing focus on cryptocurrencies and blockchain technology.

One of its divisions, Medici Ventures, has quietly been working on blockchain technologies for the last three years. According to its website, Medici focuses on “six key areas of emerging crypto-industries” — capital markets, money and banking, identity, land, voting and underlying tech.

Overstock has a a number of portfolio companies dedicated to working on blockchain technology, with tZero being the most prominent. TZero will soon be launching an initial coin offering (ICO) to fund the development of SEC-compliant trade tokens as an an alternative to traditional financial markets. 


About Overstock.com

Overstock.com, Inc operates as an online retailer in the United States. The company offers furniture, décor, area rug, bedding and bath, home improvement, outdoor, and kitchen and dining items. It provides its products and services through its internet websites comprising overstock.com, o.co, overstock.ca, and overstockgovernment.com. Read More 
Current Price
$28.94
Consensus Rating
Buy
Ratings Breakdown
4 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
Consensus Price Target
$82.86 (186.3% Upside)




#4 - Square (NYSE:SQ)

Block logoSquare (SQ) could be the first established payments company to fully integrate Bitcoin technology into their payments platform.

Square helps small business owners around the globe accept credit cards through point-of-sale systems and mobile card readers. Business owners might flock to the platform if they become the company that allows them to easily and seamlessly accept Bitcoin. Just about every business owner in the world wishes they had bought Bitcoin five years ago, and owning some that the receive as payments for their business will help business owners feel like they're part of the cryptocurrency mega-trend. 

Square CEO Jack Dorsey has previously called blockchain the "next big unlock" and the company is actively testing Bitcoin payments in its marketplace app, Square Cash. If Square becomes the company that makes it easy to buy Bitcoin and use it for payments, it could benefit from a first-mover advantage and generate significant fee revenue from people using their platform to buy and sell the cryptocurrency.

About Block

Square, Inc provides payment and point-of-sale solutions in the United States and internationally. The company's commerce ecosystem includes point-of-sale software and hardware that enables sellers to turn mobile and computing devices into payment and point-of-sale solutions. It offers hardware products, including Magstripe reader, which enables swiped transactions of magnetic stripe cards; Contactless and chip reader that accepts EMV® chip cards and Near Field Communication payments; Chip card reader, which accepts EMV® chip cards and enables swiped transactions of magnetic stripe cards; Square Stand, which enables an iPad to be used as a payment terminal or full point of sale solution; and Square Register that combines its hardware, point-of-sale software, and payments technology, as well as managed payments solutions. Read More 
Current Price
$87.73
Consensus Rating
Buy
Ratings Breakdown
35 Buy Ratings, 4 Hold Ratings, 0 Sell Ratings.
Consensus Price Target
$156.93 (78.9% Upside)




#5 - Microsoft (NASDAQ:MSFT)

Microsoft logoMicrosoft's (MSFT) Azure cloud computing arm hopes to offer the first mainstream blockchain solution to enterprise businesses. The company is now selling new distributed ledger infrastructure and offering several different blockchain apps for companies to create their own cryptocurrency networks. 

According to Microsoft,  “Rather than spending hours building out and configuring the infrastructure, we have automated these time-consuming pieces to allow you to focus on building out your scenarios and applications. You are only charged for the underlying infrastructure resources consumed, such as compute, storage, and networking. There are no incremental charges for the solution itself.”



About Microsoft

Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. Its Productivity and Business Processes segment offers Office, Exchange, SharePoint, Microsoft Teams, Office 365 Security and Compliance, and Skype for Business, as well as related Client Access Licenses (CAL); Skype, Outlook.com, OneDrive, and LinkedIn; and Dynamics 365, a set of cloud-based and on-premises business solutions for organizations and enterprise divisions. Read More 
Current Price
$282.91
Consensus Rating
Buy
Ratings Breakdown
30 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
Consensus Price Target
$335.72 (18.7% Upside)



 

More Investing Slideshows:


MarketBeat Resources

Premium Research Tools

MarketBeat All Access subscribers can access stock screeners, the Idea Engine, data export tools, research reports, and other premium tools.

Discover All Access

Market Data and Calendars

Looking for new stock ideas? Want to see which stocks are moving? View our full suite of financial calendars and market data tables, all for free.

View Market Data

Investing Education and Resources

Receive a free world-class investing education from MarketBeat. Learn about financial terms, types of investments, trading strategies and more.

Financial Terms
Details Here
MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau MarketBeat is rated as Great on TrustPilot

© American Consumer News, LLC dba MarketBeat® 2010-2022. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | contact@marketbeat.com | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Privacy Policy | Do Not Sell My Information | RSS Feeds

© 2022 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see Barchart's disclaimer.