Top crypto stocks for 2021

The value of cryptocurrencies fluctuates from time to time, affecting prices of related stocks. Crypto stocks are stocks of public companies dealing directly or indirectly with cryptocurrencies. A rise in price of a certain cryptocurrency may lead to an increase in the value of certain crypto stocks and vice versa.

As a result, experts predict crypto stocks which may dominate the market in 2021 and beyond. Among the top rated stocks are PayPal (NASDAQ:PYPL), Square (NYSE:SQ, MicroStrategy (NASDAQ:MSTR), Riot Blockchain (NASDAQ:RIOT), Facebook (NASDAQ:FB), CME Group (NASDAQ:CME), Grayscale Bitcoin ETF (OTCMKTS: GBTC) and more.

PayPal (NASDAQ:PYPL)

Market Data

  • Market Cap: $259.6 billion
  • Earnings growth rate: 121%

Square (NYSE:SQ)

Market Data

  • Market Cap: $99.2 billion
  • Earnings growth rate: 24.2%

MicroStrategy (MSTR)

According to Bloomberg.com, MicroStrategy holds bitcoins worth $38 250 billion. As a result, there is a possibility of a higher demand for its stocks in 2021 than in 2020.

Facebook (NASDAQ:FB)

Recently, it introduced a new expansion path, venturing into cryptocurrency. It developed its cryptocurrency, formerly called Libra, now known as Diem. As soon as it launches this cryptocurrency, we expect a high rise in value of its stocks.

  • Market Cap: $780 billion

Riot Blockchain

CME Group (NASDAQ:CME)

Apart from these, it also has a market for bitcoin futures and options. As the list of merchants that accept bitcoins grows, the value of CME Group stocks is likely to rise.

Market Data

  • Market Cap $64. 06 billions
  • Volume: 475.26k

HIVE

Market Data

  • Market Cap: $130 million

Other crypto mining companies

However, there are other diverse companies whose stocks are likely to perform well in 2021.

AMD: Advanced Micro Devices (AMD) provides GPU for mining cryptocurrencies. It also offers PC and gaming equipment.

Overstock (OSTK): This is a United States-based online retailer which accepts bitcoin for its transactions.

Grayscale Bitcoin ETF (GBTC): It enables investors to trade shares in trusts with large pools of bitcoins.

Visa and MasterCard: The increase in transactions using cryptocurrencies will drive the prices of Visa and MasterCard’s stocks up since people buy cryptocurrencies through them.

Conclusion

Originally published on https://decentralised.africa/