The cryptocurrency sector has entered mainstream financing at a faster pace than expected. Although there is no single, unified law regulating cryptocurrencies, both investors and companies are making significant bets on the sector’s growth potential. Retail investors can also take advantage of the potential boom in the sector by investing in companies that mine digital assets or in companies that simply buy them to strengthen their treasuries.
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Using TipRanks’ tools, we have identified three stocks with “Strong Buy” ratings from analysts and meaningful upside potential over the next twelve months.
Here Are This Week’s Stocks:
Strategy (MSTR) – Strategy is a AI-powered business intelligence software provider but it has shifted focus to becoming a Bitcoin (BTC-USD) Treasury company. Over the last three months, 12 Wall Street analysts covering MSTR stock rated it a Buy, while one analyst rated it a Sell. Together, their 12-month average Strategy price target indicates an upside of 71%. MSTR stock has gained 13.4% year-to-date.
Bit Digital (BTBT) – Bit Digital is a digital asset platform focused on Ethereum (ETH-USD). It operates one of the largest institutional Ethereum-staking infrastructures globally. Staking means using digital coins to help run and secure a blockchain network, earning rewards in return. Over the last three months, five Wall Street analysts covering BTBT stock have rated it a Buy, while one has rated it a Hold. Combined, their 12-month average Bit Digital price target indicates an upside of about 42%. Year-to-date, BTBT stock has surged 27.7%.
Riot Platforms (RIOT) – Riot Platforms is a leading bitcoin mining and digital infrastructure company in North America. In the last three months, 15 Wall Street analysts covering RIOT stock have rated it a Buy and one analyst has rated it a Hold. Their 12-month average Riot Platforms price target indicates an upside of nearly 3%. Interestingly, RIOT stock has already surged more than 110% year-to-date.
View real-time prices of various cryptocurrencies, discover the latest developments in the sector, and research crypto-related stocks on TipRanks’ Cryptocurrency page.