Insider Monkey, in its article, Avoid Overvalued Coinbase: Buy These 10 Best Crypto, Bitcoin Stocks Instead made some analysis of the best crypto, bitcoin stocks to buy. Brian Armstrong, the owner of Coinbase, became the richest man in the world after the company listed. As the company’s CEO, he became worth around $16 billion after the listing. What is it all about Coinbase IPO, you will say? According to the platform that has more than 56 million users globally, which is more than 6 million monthly users. Its robust user base is largely due to the rise of cryptocurrencies. While the public listing of Coinbase is seen as a watershed moment for cryptocurrencies, it comes at a price that many experts consider overvalued. There are also reasons to avoid investing in crypto stocks. On the day of its IPO, Coinbase was valued at a relative valuation of around $6 billion, which is higher than the market cap of some of the largest banks in the world. Does it mean Coinbase is amplified?
According to David Trainer of New Constructs, the valuation of Coinbase is comparable to the boom in the aviation and auto manufacturing industries during the second half of this century. Despite the valuation discrepancy, there is still a reason to be positive about the crypto industry as a whole. Insider Monkey’s newsletter on their homepage gives you access to this and more stories if you are subscribed. Let’s list the 10 best crypto, bitcoin stocks to buy. Riot Blockchain, Inc. is a Colorado-based cryptocurrency mining company that supports Bitcoin blockchain through its industrial-scale mining. HIVE Blockchain Technologies is a Vancouver-based company that focuses on the use of cloud computing and supercomputing facilities for the mining of cryptocurrencies. Its shares are heavily linked to Bitcoin. Marathon Digital is a cryptocurrency mining company that focuses on the blockchain ecosystem. It has a data centre in Nevada that can accommodate more than 2,000 miners. Argo Blockchain is a cryptocurrency mining firm that focuses on large-scale operations. Its operations are conducted in locations in the US and Canada. Canaan Inc. is a China-based technology company that makes computer hardware for use in Bitcoin mining. It also has a stake in the AI industry. Insider Monkey gives more information on these companies in its original article: Avoid Overvalued Coinbase: Buy These 10 Best Crypto, Bitcoin Stocks Instead.
