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10 Best Digital Currency Stocks To Buy Now

In this article, we discuss the 10 best digital currency stocks to buy now. If you want to read about some more digital currency stocks to buy now, go directly to 5 Best Digital Currency Stocks To Buy Now.

Investors have started raising questions about the health of the overall crypto economy as a dramatic fall in the prices of cryptocurrencies, in the wake of rising rates and soaring inflation, batter the market. Crypto firms have been laying off staff and freezing withdrawals in a bid to limit their losses. The situation stands in stark contrast to the incredible bull market that the sector had enjoyed since the 2020 pandemic, during which the prices of the most popular coins, like Bitcoin and Ethereum, touched record highs and trade boomed, even in the meme space.

Bitcoin has so far dropped more than 60% in value year-to-date. Ethereum is down more than 66% so far this year. Along with these coins, prominent crypto stocks like NVIDIA Corporation (NASDAQ:NVDA), Mastercard Incorporated (NYSE:MA), and Alphabet Inc. (NASDAQ:GOOG) are all trading lower as well. However, market experts have backed the crypto world to bounce back from this crisis. Ryan Coyne, a crypto expert at the Mizuho Group, recently told the New York Times that “growth at all costs” had turned to “profitable growth” for crypto firms. 

Crypto billionaires Tyler Winklevoss and Cameron Winklevoss, in a recent note to clients, said that the “crypto revolution is well underway and its impact will continue to be profound, but its trajectory has been anything but gradual or predictable”. The fundamentals of the industry remain solid, even though it is on a downward spiral right now. Crypto has recovered from these spirals before, and as the usage of digital coins becomes more popular, the cryptoverse looks set to rise once again.

Our Methodology

The companies that operate in the digital currencies sector were selected for the list. In order to provide readers with some context for their investment choices, the business fundamentals and analyst ratings for the stocks are also discussed. Data from around 900 elite hedge funds tracked by Insider Monkey in the second quarter of 2022 was used to identify the number of hedge funds that hold stakes in each firm.

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Best Digital Currency Stocks To Buy Now

10. Canaan Inc. (NASDAQ:CAN)

Number of Hedge Fund Holders: 8     

Canaan Inc. (NASDAQ:CAN) engages in the research, design, and sale of integrated circuit mining equipment products. It is one of the premier digital money stocks to invest in. The company is also involved in the assembly and distribution of mining equipment and spare parts and has a strategic cooperation with Northern Data AG in the areas of artificial intelligence development, blockchain technology, and datacenter operations. 

On July 6, HC Wainwright analyst Kevin Dede initiated coverage of Canaan Inc. (NASDAQ:CAN) stock with a Buy rating and a price target of $5, noting that self-mining may bolster the company’s results starting later this year. 

Among the hedge funds being tracked by Insider Monkey, London-based investment firm Polunin Capital is a leading shareholder in Canaan Inc. (NASDAQ:CAN), with 1.4 million shares worth more than $4.5 million.

Just like NVIDIA Corporation (NASDAQ:NVDA), Mastercard Incorporated (NYSE:MA), and Alphabet Inc. (NASDAQ:GOOG), Canaan Inc. (NASDAQ:CAN) is one of the best digital money stocks to buy now. 

9. MicroStrategy Incorporated (NASDAQ:MSTR)

Number of Hedge Fund Holders: 18

MicroStrategy Incorporated (NASDAQ:MSTR) provides enterprise analytics software and services worldwide. It is one of the top digital money stocks to invest in. In early September, the company revealed that it had purchased 301 BTC between August 2 and September 19 for approximately $6 million. The tokens were acquired at an average price of $19,851. The firm, led by Michael Saylor, has a bitcoin stash of nearly 130,000 coins, which were acquired at a total price of $3.98 billion and an average purchase price of $30,639.

On August 3, Canaccord analyst Joseph Vafi maintained a Buy rating on MicroStrategy Incorporated (NASDAQ:MSTR) stock and lowered the price target to $372 from $453, noting the main value driver for the firm remains its BTC holdings. 

Among the hedge funds being tracked by Insider Monkey, Chicago-based firm Citadel Investment Group is a leading shareholder in MicroStrategy Incorporated (NASDAQ:MSTR), with 578,700 shares worth more than $95 million.

8. Robinhood Markets, Inc. (NASDAQ:HOOD)

Number of Hedge Fund Holders: 25     

Robinhood Markets, Inc. (NASDAQ:HOOD) operates a financial services platform in the United States. The firm is among the best digital money stocks to invest in. On September 20, the company announced that it had expanded the retail-focused cryptocurrency offerings on the platform through the addition of USD Coin, a stablecoin that users will be able to send and receive on the platform. USD Coin is the second-largest stablecoin by market capitalization and is popular on the Polygon and Ethereum blockchain networks already. 

On August 12, Deutsche Bank analyst Brian Bedell maintained a Hold rating on Robinhood Markets, Inc. (NASDAQ:HOOD) stock and raised the price target to $10 from $9, noting that alternative managers were still best positioned for upside in the coming months. 

At the end of the second quarter of 2022, 25 hedge funds in the database of Insider Monkey held stakes worth $616 million in Robinhood Markets, Inc. (NASDAQ:HOOD), compared to 19 in the previous quarter worth $947 million.

In its Q4 2021 investor letter, Claret Asset Management, an asset management firm, highlighted a few stocks and Robinhood Markets, Inc. (NASDAQ:HOOD) was one of them. Here is what the fund said:

“Robinhood Markets, Inc. (NASDAQ:HOOD) went public at $38 a share at the end of July of this year. After a one day decline of 8%, it proceeded to rise to a peak of $85 in a matter of 4 days before settling down around $40 in September. Then, we found out that the company does not appear to understand the margin rules that apply to their client’s trades… and got fined by the Securities Exchange Commission. As of today, it is trading below $20, at 57 times earnings, approximately half of its IPO price. Caveat emptor… Buyer beware.” 

7. Coinbase Global, Inc. (NASDAQ:COIN)

Number of Hedge Fund Holders: 29    

Coinbase Global, Inc. (NASDAQ:COIN) provides financial infrastructure and technology for the crypto economy globally. The company is one of the most prominent digital money stocks to invest in. On September 22, the company revealed that it had secured regulatory approval from the central bank in the Netherlands to offer crypto-related products to customers in the country. The firm is the first global crypto exchange to receive registration approval from De Nederlandsche Bank. The firm said registrations in more crypto markets were also in the works around the globe. 

On September 14, JPMorgan analyst Kenneth Worthington maintained a Neutral rating on Coinbase Global, Inc. (NASDAQ:COIN) stock and raised the price target to $78 from $64, noting the firm had a substantial revenue opportunity that originates from higher interest rates.

At the end of the second quarter of 2022, 29 hedge funds in the database of Insider Monkey held stakes worth $1.2 billion in Coinbase Global, Inc. (NASDAQ:COIN), compared to 46 the preceding quarter worth $2.3 billion.

In its Q2 2022 investor letter, Miller Value Partners, an asset management firm, highlighted a few stocks and Coinbase Global, Inc. (NASDAQ:COIN) was one of them. Here is what the fund said:

“Coinbase Global Inc. Ordinary Shares (NASDAQ:COIN) fell during the quarter as the crypto markets continued to suffer. While the company reported disappointing results, it committed to capping EBITDA losses at $500M even in the event of “a prolonged market downturn”. COIN’s ample liquidity ($6b in cash on hand) should enable them to survive a prolonged “crypto winter” and invest to strengthen the business in the downturn. While the crypto market is early in its adoption, Coinbase is focused on building the platform for crypto not only supporting trading, and cold storage, but moving into NFTs, staking, and crypto derivatives. We see tremendous upside potential for COIN over the next decade if they are able to successfully execute on their platform strategy.”

6. American Express Company (NYSE:AXP)

Number of Hedge Fund Holders: 67   

American Express Company (NYSE:AXP) provides charge and credit card products, as well as travel-related services. The company has hired more than 3,600 technical workers this year and aims to add 1,500 more to its technology division by the end of 2022. Ravi Radhakrishnan, the chief information officer of the firm, told news platform Bloomberg recently that about 60% of the hires will be in the US, about a third in India, and the remaining will be in Europe. The firm presently employs more than 64,000 people. American Express Company (NYSE:AXP) is now offering crypto cards and crypto rewards, which is why it features on our list of best digital money stocks to invest in.

On July 26, Citi analyst Arren Cyganovich maintained a Neutral rating on American Express Company (NYSE:AXP) stock and raised the price target to $159 from $148, appreciating the second quarter earnings results of the firm. 

Among the hedge funds being tracked by Insider Monkey, Omaha-based investment firm Berkshire Hathaway is a leading shareholder in American Express Company (NYSE:AXP), with 151.6 million shares worth more than $2.1 billion. 

In addition to NVIDIA Corporation (NASDAQ:NVDA), Mastercard Incorporated (NYSE:MA), and Alphabet Inc. (NASDAQ:GOOG), American Express Company (NYSE:AXP) is one of the best digital money stocks to buy now. 

In its Q2 2022 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and American Express Company (NYSE:AXP) was one of them. Here is what the fund said:

“In financials, American Express Company (NYSE:AXP) has done an excellent job demonstrating the resiliency of its franchise in the midst of a global pandemic that drove a 60% decline in its core travel and entertainment business. The company’s spend-centric model has been helped by fiscal stimulus ensuring a flush consumer, while management continues to execute well by adding millions of new consumer and small and medium business accounts, which should benefit the franchise over the medium to long term. We remain optimistic regarding the company’s prospects as travel and entertainment activity rebounds, adding to our position in the quarter.”

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Disclosure. None. 10 Best Digital Currency Stocks To Buy Now is originally published on Insider Monkey.

AI, Tariffs, Nuclear Power: One Undervalued Stock Connects ALL the Dots (Before It Explodes!)

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!

AI is eating the world—and the machines behind it are ravenous.

Each ChatGPT query, each model update, each robotic breakthrough consumes massive amounts of energy. In fact, AI is already pushing global power grids to the brink.

Wall Street is pouring hundreds of billions into artificial intelligence—training smarter chatbots, automating industries, and building the digital future. But there’s one urgent question few are asking:

Where will all of that energy come from?

AI is the most electricity-hungry technology ever invented. Each data center powering large language models like ChatGPT consumes as much energy as a small city. And it’s about to get worse.

Even Sam Altman, the founder of OpenAI, issued a stark warning:

“The future of AI depends on an energy breakthrough.”

Elon Musk was even more blunt:

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As the world chases faster, smarter machines, a hidden crisis is emerging behind the scenes. Power grids are strained. Electricity prices are rising. Utilities are scrambling to expand capacity.

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One little-known company—almost entirely overlooked by most AI investors—could be the ultimate backdoor play. It’s not a chipmaker. It’s not a cloud platform. But it might be the most important AI stock in the US owns critical energy infrastructure assets positioned to feed the coming AI energy spike.

As demand from AI data centers explodes, this company is gearing up to profit from the most valuable commodity in the digital age: electricity.

The “Toll Booth” Operator of the AI Energy Boom

  • It owns critical nuclear energy infrastructure assets, positioning it at the heart of America’s next-generation power strategy.
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AI. Energy. Tariffs. Onshoring. This One Company Ties It All Together.

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Wall Street is noticing this company also because it is quietly riding all of these tailwinds—without the sky-high valuation.

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The Hedge Fund Secret That’s Starting to Leak Out

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A New Dawn is Coming to U.S. Stocks

I work for one of the largest independent financial publishers in the world – representing over 1 million people in 148 countries.

We’re independently funding today’s broadcast to address something on the mind of every investor in America right now…

Should I put my money in Artificial Intelligence?

Here to answer that for us… and give away his No. 1 free AI recommendation… is 50-year Wall Street titan, Marc Chaikin.

Marc’s been a trader, stockbroker, and analyst. He was the head of the options department at a major brokerage firm and is a sought-after expert for CNBC, Fox Business, Barron’s, and Yahoo! Finance…

But what Marc’s most known for is his award-winning stock-rating system. Which determines whether a stock could shoot sky-high in the next three to six months… or come crashing down.

That’s why Marc’s work appears in every Bloomberg and Reuters terminal on the planet…

And is still used by hundreds of banks, hedge funds, and brokerages to track the billions of dollars flowing in and out of stocks each day.

He’s used this system to survive nine bear markets… create three new indices for the Nasdaq… and even predict the brutal bear market of 2022, 90 days in advance.

Click to continue reading…