Best Crypto Stocks to Invest in Following Bitcoin Halving in April
Key Takeaways
– Marathon Digital, a leader in Bitcoin mining, is expanding in Texas and expects steady annual revenue growth of 35%.
– Coinbase Global, which manages $101 billion in assets, is looking to stablecoins for revenue diversification and predicts annual growth of 21%.
– The cryptocurrency market is experiencing a resurgence due to factors such as the approval of Bitcoin ETFs and the upcoming Bitcoin halving.
– Investing in promising crypto companies like Marathon Digital and Coinbase Global is a wise choice as the market continues to grow.
Marathon Digital: Leading the Way in Bitcoin Mining
Marathon Digital, the leading Bitcoin miner in North America, has achieved remarkable growth, mining over 12,800 Bitcoins in 2023, a massive increase of 210% compared to the previous year. Despite facing challenges from adverse weather conditions in early 2024, Marathon remains determined to move forward.
To solidify its position in the Bitcoin mining industry, Marathon is relocating some of its miners to Texas and expanding its operations. Analysts predict a steady annual revenue growth of 35% for Marathon from 2023 to 2026, making it an attractive option for investors seeking to capitalize on the cryptocurrency market’s growth.
Coinbase Global: Diversifying Revenue with Stablecoins
Coinbase Global, a major player in the cryptocurrency exchange world, manages an impressive $101 billion in assets and has become the custodian for numerous Bitcoin spot price ETFs. Although total trading volume dipped in 2023, Coinbase experienced positive trends in the third and fourth quarters as the crypto market regained momentum.
To diversify its revenue streams, Coinbase is increasingly relying on stablecoins like Tether, which can help reduce its dependence on volatile assets such as Bitcoin and Ethereum. Analysts predict steady revenue growth for Coinbase, with an annual increase of 21% from 2023 to 2026, along with a 40% growth in adjusted EBITDA.
While Coinbase’s stock may not currently be considered a bargain, its promising growth potential in the expanding cryptocurrency market makes it an appealing investment. Notably, Cathie Wood of Ark Invest holds Coinbase as a top holding in several ETFs, demonstrating confidence in its future prospects.
Investing in the Future of Cryptocurrency
As the cryptocurrency market continues to evolve and gain mainstream acceptance, investors are increasingly turning to companies like Marathon Digital and Coinbase Global for exposure to this burgeoning sector. These companies offer promising growth opportunities in line with the market’s expansion.