9 Crypto Stocks for 2024: Bitcoin, Coinbase and More

Cryptocurrencies do not trade on Wall Street in the same way as stocks. Yet several publicly traded companies are deeply tied to the world of cryptocurrency or other digital assets.

What are crypto stocks?

Cryptocurrency stocks are shares of companies that operate cryptocurrency exchanges, invest in cryptocurrencies themselves, or create hardware used to mine Bitcoin and other cryptocurrencies. There is also cryptocurrencies themselves, but they are different investments from stocks. If you want to own cryptocurrency stocks, you often can’t do so. Bitcoin, for example, is not a public company and therefore does not offer shares that you can buy. You can, however, buy Bitcoin, the form of crypto.

Every individual stock carries its risks – and crypto stocks can also be vulnerable to potential downturns in volatile cryptocurrency markets. However, crypto stocks may be worth considering for investors who are comfortable with stocks and want some exposure to digital assets.

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9 crypto stocks to consider

Many stocks have ties to cryptocurrencies. Here are some of the most popular stocks traded on U.S. exchanges.

1. Coinbase Global Inc.

Coinbase (ticker: COIN) operates one of the largest cryptocurrency exchanges in the United States. In April 2021, it became the first pure-play cryptocurrency trading platform to IPO on Wall Street. Coinbase makes money when people buy and sell a wide variety of digital assets on the platform.

2. MicroStrategy Inc.

MicroStrategy (ticker: MSTR) is an analytics software company that has built up a vast stash of Bitcoin, the first and most valuable cryptocurrency. As of September 24, 2023, MicroStrategy owned 158,245 Bitcoins.[0]

3.NVIDIA Corp.

NVIDIA (ticker: NVDA) has made a name for itself as a producer of graphics cards used for computer gaming. But in recent years, it has extended the use of its technologies to cryptocurrency mining. This process uses specialized equipment to solve complex mathematical problems in an energy-intensive and potentially lucrative accounting process that allows some cryptocurrencies to operate without a central monetary authority.

4. Marathon Digital Holdings Inc.

Marathon (ticker: MARA) is another company heavily involved in Bitcoin, offering investors a way to gain exposure to the asset without purchasing it directly. Marathon directly mines Bitcoin and invests money in the digital asset. As of September 30, 2023, Marathon owned 13,726 Bitcoins.[0]

5. Bloc Inc.

Block (ticker: SQ), formerly known as Square, is a financial services and payment processing company. It has several business lines related to blockchain technology and Bitcoin, and its popular Cash App product allows users to invest in stocks and Bitcoin. As of November 1, 2013, Block owned nearly $300 million worth of Bitcoin.

6. Riot Platforms Inc.

Riot Blockchain (ticker: RIOT) is another company focused on Bitcoin mining. The company says its Rockdale, Texas, facility is the largest operation of its type in North America. The company said its mining resulted in a Bitcoin balance of 7,327 coins at the end of the third quarter of 2023, then worth $255 million.

7. Advanced Micro Devices Inc.

Advanced Micro Devices (ticker: AMD) makes computer equipment, including gaming processing units, also known as GPUs. GPUs are often used in cryptocurrency mining. The company said it has seen increased demand for these products as interest in crypto has increased.

8. PayPal Holdings Inc.

PayPal (ticker: PYPL) is a well-known technology company that has long focused on digital payments – a key area of ​​cryptocurrency development. PayPal has added crypto payment and investment tools to its PayPal and Venmo apps in recent years.

9. CME Group inc.

CME (ticker: CME) is a financial services company whose businesses include clearing house services and derivatives exchanges. Among the products covered by these services are cryptocurrencies, including Bitcoin and Ethereum.

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Crypto versus stocks

If you are considering investing in crypto stocks, you may be wondering: what is the difference between buying stocks and buying cryptocurrencies?

Action represents an individual share of ownership in a company. Any stock you buy on a public exchange, such as the New York Stock Exchange, is issued by a company that has gone through an extensive regulatory process to sell its business’s stock to the public. Additionally, these companies must publish comprehensive financial statements, which can help you evaluate whether you want to invest.

Cryptocurrency is a digital file secured by cryptographic technology that makes it difficult to duplicate or modify without the permission of its owner. Cryptocurrencies are not sold on stock exchanges but on cryptocurrency exchanges which decide which assets should be listed. Additionally, some cryptocurrencies offer users a share of governance power over the underlying network on which they operate. However, issuing a cryptocurrency is more of a technical process than a regulatory one, and the amount of publicly available financial data can vary.

Here are some things to consider before deciding whether or not to buy crypto stocks.

• Stocks as an investment class have a much longer history than cryptocurrencies. If you’re used to evaluating stocks based on companies’ financial performance, you may be more comfortable with stocks.

• Regulatory requirements for public companies are stricter than those for cryptocurrency issuers. This helps encourage companies to return reasonable value to their investors.

• While some traditional brokers sell cryptocurrencies, many do not. As a result, you’ll likely have an easier time purchasing crypto stocks than cryptocurrencies with your retirement account.

Crypto ETFs

Investing in individual stocks carries more risk than investing in a fund. Funds, such as exchange traded funds are baskets of stocks that you can buy all at once. There are well-diversified funds that cover large parts of the economy, such as S&P 500 Index Fundsand there are also more targeted funds, like Crypto ETFs. In January 2024, the United States Securities and Exchange Commission approved the first spot Bitcoin ETFs.

Learn more

Neither the author nor the publisher had any ownership interest in the above investments at the time of publication.

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