As I write, Dogecoin (CCC:DOGE-USD) is buying and selling at 60 cents. At the start of April 2021, Dogecoin was buying and selling close to 6 cents. Multi-fold return inside a brief interval is only one motive why cryptocurrencies have witnessed wider adoption. With crypto adoption at an inflection level, it is smart to embrace just a few crypto shares within the record of shares to purchase proper now.
To elaborate on the tempo of crypto adoption, in July 2020, the whole variety of cryptocurrency customers globally was 74 million. With a surge in Bitcoin (CCC:BTC-USD), the curiosity within the crypto area has additionally elevated considerably. In January 2021, global crypto users surpassed 100 million. This has elevated investor curiosity in corporations associated to cryptocurrency mining, blockchain and cryptocurrency buying and selling. There are a number of crypto shares which have already delivered multi-fold returns in the previous few quarters.
However, most of those shares have cooled off after buying and selling at all-time highs. After the profit-booking section, crypto shares appear to be in a section of consolidation. A breakout on the upside appears imminent for the shares which are mentioned beneath.
Let’s discuss seven shares to purchase proper now within the cryptocurrency area.
- Coinbase Global (NASDAQ:COIN)
- Marathon Digital (NASDAQ:MARA)
- HIVE Blockchain (OTCMKTS:HVBTF)
- Square (NYSE:SQ)
- Riot Blockchain (NASDAQ:RIOT)
- Canaan (NASDAQ:CAN)
- MicroStrategy (NASDAQ:MSTR)
Stocks to Buy Right Now: Coinbase Global (COIN)
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After an enormous itemizing and highs round $430, COIN inventory presently trades at $273. For any investor bullish on cryptocurrencies, the inventory is price holding in your portfolio.
Given the fast adoption of crypto, it’s not stunning that Coinbase is on a high-growth trajectory. For fiscal 12 months 2020, the corporate reported income development of 139.4% on a year-over-year foundation to $1,277 million. For the 12 months, the corporate has guided for 41% income development to $1,800 million.
The variety of verified customers on the corporate’s platform has additionally surged from 32 million in FY2019 to 56 million within the first quarter of 2021. It appears doubtless that verified customers will proceed to develop at a wholesome tempo. Furthermore, monthly transacting users reached 6.1 million as of Q1 2021.
The firm’s enterprise can also be enticing from a margin perspective. For the 12 months, the corporate has guided for EBITDA (earnings earlier than curiosity, taxes, depreciation and amortization) of $1.1 billion. This would suggest an EBITDA margin of 61.1%. On a year-over-year foundation, the corporate’s EBITDA margin is probably going to broaden by 2,000 foundation factors.
Besides development in retail customers, Coinbase additionally has a robust base of institutional clients. As of December 2020, the corporate reported 7,000 institutional customers. This supplies one other avenue for income development.
Overall, COIN inventory is enticing with sturdy development and the potential to ship strong money flows in the long run.
Marathon Digital (MARA)

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MARA inventory has skyrocketed by greater than 7,300% within the final 12 months. The inventory appears to be in a consolidation vary and a contemporary breakout is probably going within the foreseeable future.
Marathon Digital is a cryptocurrency miner with a spotlight on Bitcoin. It’s price noting that in January 2021, the corporate mined 50.4 Bitcoins. With vital enlargement underway, the corporate mined 162.1 Bitcoins in April 2021.
However, that is only the start of development for the corporate. By Q1 2022, the corporate expects to have 103,120 miners deployed. The firm expects to mine 55 to 60 Bitcoins per day as soon as the enlargement is accomplished. Importantly, at a $55,000 Bitcoin worth, the corporate expects month-to-month income of $94.4 million and mining revenue of $86.5 million.
It appears very doubtless that Bitcoin will likely be buying and selling nicely above $55,000 in Q1 2022. This explains the rationale for MARA inventory going ballistic. Once the enlargement is accomplished, the corporate can have an annual income visibility of $1.1 billion.
It’s price noting that the corporate has partnered with Beowulf for low-cost electrical energy. The firm expects common Bitcoin manufacturing price of $4,541. Considering the mining revenue, the corporate’s money movement is probably going to surge in FY2022 and past.
Stocks to Buy Right Now: HIVE Blockchain (HVBTF)
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HVBTF inventory can also be among the many shares to purchase proper now within the cryptocurrency phase. HIVE Blockchain is a extra diversified miner with mining operations in Ethereum (CCC:ETH-USD) and Bitcoin.
For Q3 2021, the corporate reported revenue from digital forex mining of $13.7 million. Income development was 174% on a year-over-year foundation. The firm mined 21,500 Ethereum and 165 Bitcoin during the quarter. It’s price noting that the Ethereum worth has surged to an all-time excessive within the latest previous. With major focus on the altcoin, the corporate appears well-positioned to profit.
Further, the corporate is pursuing 40% capability enlargement in Iceland, 20% in Sweden and 200% in Canada. In the approaching quarters, it’s doubtless that income from digital forex mining will proceed to surge.
In one other necessary growth, HIVE Blockchain introduced a strategic partnership and share swap agreement with DeFi Technologies. The latter is concerned in constructing and managing property within the decentralized finance sector.
It’s price noting that deposits in DeFi software elevated from “$1 billion in June to just under $40 billion by late January 2021.” Therefore, the DeFi area might be one other recreation changer for the corporate apart from revenue from cryptocurrency mining.
Square (SQ)

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SQ inventory has surged by 238% within the final 12 months. However, the inventory stays enticing with sturdy development within the Cash App phase.
In FY2020, the corporate’s Cash App reported 3 million energetic Bitcoin clients. Further, in January 2021, a million clients bought Bitcoin for the primary time.
The Bitcoin transactions generated income of $1.76 billion for the corporate in FY2020. Revenue increased tenfold on a year-over-year basis. In addition, reported gross revenue was $41 million, which elevated 13 instances.
As adoption of cryptocurrencies will increase, the corporate is positioned to profit. It’s additionally price noting that for This fall 2020, the corporate reported buy of $170 million in Bitcoin.
The firm believes that the funding is part of its “ongoing commitment to Bitcoin.” Further, the corporate “plans to assess its combination funding in bitcoin relative to its different investments on an ongoing foundation.”
Clearly, Square is bullish on Bitcoin. I might not be stunned if the corporate additional expands operations within the cryptocurrency area. The firm already has a banking license. It can be fascinating to see if Square additionally creates presence within the DeFi area.
Stocks to Buy Right Now: Riot Blockchain (RIOT)

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RIOT inventory is one other title among the many shares to purchase proper now. After surging to a excessive of $79.50, the inventory presently trades round $35. The inventory seems to be poised for a renewed surge from present ranges.
For This fall 2020, the corporate reported income development of 116%. More importantly, the corporate mined 303 Bitcoin in This fall 2020, as in contrast to 222 Bitcoin mined in Q3 2020. The firm’s hashing capability has elevated by 460% on a year-over-year foundation. This is probably going to translate into sustained development. Riot has already introduced that for Q1 2021, 491 Bitcoin had been mined.
In April 2020, the corporate executed an order for 42,000 S19j Antminers from Bitmain for $138.5 million. As of April 2021, the corporate’s hashing capability was 1.6 EH/s. However, by This fall 2022, the corporate plans to increase the hashing capacity to 7.7 EH/s.
This is probably going to translate into sustained development within the variety of Bitcoin mined on a quarter-over-quarter foundation. The firm due to this fact appears positioned for accelerated top-line and cash-flow development.
In April 2021, Riot Blockchain additionally acquired Whinstone. The latter has the largest Bitcoin hosting facility in the United States. With a robust money buffer, the corporate is positioned for sustained natural and inorganic development.
Canaan (CAN)

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I’ve talked about two Bitcoin-mining corporations which are putting huge orders for miners to ramp up capability. Canaan, as a vendor of mining machines, appears well-positioned to profit within the coming years.
CAN inventory had surged to a excessive of $39.10 earlier than correcting to present ranges round $12. This looks like a lovely entry level.
Before speaking in regards to the development triggers, it’s price mentioning that Canaan reported money of $60 million as of December 2020. Recently, the corporate had a direct placement of ADS and warrants to raise $170 million. With a money buffer of over $200 million, the corporate appears well-positioned to pursue aggressive development.
From a income development perspective, Canaan reported an order backlog of $174 million as of Q4 2020. In April 2021, the corporate introduced an settlement with Genesis Digital Assets for sale of Bitcoin-mining machines worth $93.63 million. An extended-term partnership with Genesis doubtlessly implies additional orders within the coming years.
Last month, the corporate additionally acquired an order from Mawson Infrastructure Group for 11,760 Bitcoin-mining machines. The level I’m making right here is that order influx is powerful for the corporate, and it’s doubtless to translate into wholesome income development. CAN inventory is due to this fact be in my record of shares to purchase proper now.
Stocks to Buy Right Now: MicroStrategy (MSTR)

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MSTR inventory has surged by 409% within the final one-year interval. The firm has been among the many most aggressive purchasers of Bitcoin.
At a market capitalization of $6 billion, MSTR inventory does look enticing. To put issues into perspective, the corporate was holding 91,579 Bitcoins as of April 2021. At a Bitcoin worth of $55,700, the market worth of the corporate’s holdings is $5.1 billion.
According to a survey of Goldman’s institutional purchasers, 76% of clients believe that Bitcoin could reach $100,000 this year. If this holds true, the market worth of the corporate’s Bitcoin holdings will likely be $9.2 billion. Clearly, the inventory appears attractively valued.
I additionally consider that MicroStrategy has the monetary flexibility to broaden presence within the cryptocurrency area. With greater than $5 billion in money and crypto property, the corporate can pursue development alternatives in blockchain, DeFi and cryptocurrency mining. This is only a speculative view, however appears doubtless within the long-term, contemplating the corporate’s focus on digital property.
On the date of publication, Faisal Humayun didn’t have (both straight or not directly) any positions in any of the securities talked about on this article.
Faisal Humayun is a senior analysis analyst with 12 years of business expertise within the subject of credit score analysis, fairness analysis and monetary modelling. Faisal has authored over 1,500 inventory particular articles with focus on the know-how, vitality and commodities sector.