Visa Inc., JPMorgan Chase & Co., and Mastercard Incorporated are all investing heavily in blockchain technology and cryptocurrency-related businesses. In 2021, the worldwide cryptocurrency market was valued at $1.78 trillion. From 2021 to 2027, the market is expected to develop at a compound annual growth rate of 58.4 percent. By the conclusion of the anticipated time, it is expected to reach $32.42 trillion. Cryptocurrency is a market with a high risk-to-reward ratio. The market is extremely volatile, which means there are more dangers involved. To take a position or learn more about the market, one might invest in cryptocurrency stocks. As of the first quarter of 2022, bitcoin is trading at an all-time low of under $30,000.
Insider Monkey highlights the list of best cryptocurrency stocks to buy now. Canaan Inc. is a prominent developer and producer of integrated circuit final mining equipment for Bitcoin mining and related activities in China. The company’s profitability is hampered by Covid-related limitations in China, which have hurt sales. In North America, Hut 8 Mining Corp. is a cryptocurrency mining corporation. The corporation has about 5,800 Bitcoins in reserve as of January 31, 2022. Revenues were $40.90 million, increasing 52.97 percent from the previous year. In Q1 2022, the corporation reported a 21% rise in total Bitcoin mined, which totaled 470, up from 387 in Q1 2021. Argo Blockchain Plc has 2,700 Bitcoins in reserve and $11.9 million in cash as of the first quarter of 2022. Bitfarms Ltd. is another major bitcoin mining firm situated in the United States. The company owns and maintains server farms that validate Bitcoin blockchain transactions. With a trailing 12-month PE ratio of 10.56, Bitfarms is one of the greatest value stocks to buy right now. Riot Blockchain, Inc. is a cryptocurrency mining company established in Colorado that specializes in Bitcoin mining in North America. The stock has a forward PE ratio of 8.61 as of June 4, making it an undervalued pure-play in the cryptocurrency business. For more details, click 10 Best Cryptocurrency Stocks To Buy Now.
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