The cryptocurrency sector has entered mainstream financing 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.
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Using TipRanks’ tools, we have identified three stocks with “Strong Buy” ratings from analysts and huge 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. Over the last three months, all five 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 93%. Year-to-date, BTBT stock has gained 1%.
DeFi Technologies (DEFT) – DeFi Technologies is a Canada-based fintech company that provides regulated and secure access to decentralized finance (DeFi) and digital asset markets. In the last three months, all four Wall Street analysts covering DEFT stock have rated it a Strong Buy, with their 12-month average DeFi Technologies price target indicating an upside of about 95%. Year-to-date, DEFT stock has lost 9.7%.
Hive Digital (HIVE) – HIVE Digital is another Canadian Bitcoin mining company with renewable energy-powered operations in Canada, Sweden, and Paraguay. The company also specializes in building advanced data centers and HPC infrastructure projects. In the last three months, all seven Wall Street analysts covering HIVE stock have rated it a Strong Buy, with their 12-month average HIVE Digital price target indicating an upside of 76%. However, HIVE stock has surged 45% year-to-date.
View real-time prices of various cryptocurrencies, discover the latest developments in the sector, and research crypto-related stocks on TipRanks’ Cryptocurrency page.