The cryptocurrency sector has entered the mainstream financing sector 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.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Using TipRanks’ tools, we have identified three stocks with “Strong Buy” ratings from analysts and significant upside potential over the next twelve months.
Here are this week’s stocks:
Bit Digital (BTBT) – Bit Digital is a digital asset platform focused on Ethereum. 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. In the last three months, all four Wall Street analysts covering BTBT stock have rated it a Strong Buy, with their 12-month average Bit Digital price target indicating an upside of about 110%. However, BTBT stock has lost 17.6% over the past year.
Bitdeer Technologies (BTDR) – Bitdeer Technologies is a Singapore-based cryptocurrency and mining platform with operations in the U.S., Norway, and Bhutan. It offers blockchain and high-performance computing (HPC) solutions. Over the last three months, all 10 Wall Street analysts covering BTDR stock rated it a Strong Buy. Combined, their 12-month average Bitdeer Technologies price target indicates an upside of about 39%. In the past year, BTDR stock has gained 19.3%.
Galaxy Digital (GLXY) – Galaxy Digital operates two businesses: Digital Assets and Data Centers. The company aims to operate cutting-edge artificial intelligence (AI) and HPC infrastructure in the future. In the last three months, all 10 Wall Street analysts covering GLXY stock have rated it a Strong Buy, with their 12-month average Galaxy Digital price target indicating an upside of 32%. Notably, GLXY stock has surged over 94% in the past year.
View real-time prices of various cryptocurrencies, discover the latest developments in the sector, and research crypto-related stocks on TipRanks’ Cryptocurrency page.