Yahoo Finance 3 Explosive Crypto Stocks That Could 10X in 10 Years
Written by Daniel Da Costa at The Motley Fool Canada
There’s no question if you want to find stocks with the potential to grow your money rapidly, crypto stocks are some of the best to consider.
We also know that any time you look for a stock with major growth potential, it’s most likely also going to come with a tonne of risk.
This is part of the reason why crypto stocks are so volatile and can be quite risky. However, if you buy a high-quality company that you can own long-term through the ups and downs of the crypto market, you can mitigate much of the risk.
So here are three of the best and most explosive crypto stocks to buy today.
A top crypto stock for Bitcoin and Ether exposure
One of the first stocks that you’ll want to consider and one that’s been highly popular among investors recently is HIVE Blockchain Technologies (TSXV:HIVE)(NASDAQ:HVBT).
HIVE is a cryptocurrency miner that predominantly mines for Bitcoin and Ether, although it does have other mining operations too.
In general, though, the stock is an excellent investment if you want a high-growth stock that’s exposed to the significant potential of Bitcoin and Ether.
Both cryptocurrencies are the most popular among investors, but Bitcoin and Ether are quite different. So it makes a lot of sense for investors to gain exposure to both and diversify their exposure to cryptocurrencies going forward.
And while there are different stocks you can buy to diversify your capital among the two top cryptocurrencies, HIVE is one of the best options.
Not only does it have more growth potential than the cryptocurrencies themselves, but it continues to upgrade its assets, which only increases its competitiveness.
So if you’re looking for a top crypto stock to buy, HIVE is an excellent choice.
A high-quality Bitcoin miner
Another top mining stock you may want to consider is HUT 8 Mining (TSXV:HUT)(NASDAQ:HUT), one of the best crypto mining companies in the world.
Hut 8 Mining is one of the top growth stocks to buy if you’re more bullish on Bitcoin. However, it has been buying the equipment necessary to start mining the Ethereum network in recent months, which should help add a tonne of growth potential to the stock.
We have already seen the potential these crypto mining stocks have, especially when the price of Bitcoin or Ether rises rapidly.
And now, with more cryptocurrency restrictions in China lately, miners outside the country have seen the market become less competitive.
So if you’re looking for a high-quality crypto stock to buy as a long-term investment, Hut 8 is one of the best in Canada.
A rapidly growing crypto finance stock
Finally, if you want a high-quality crypto stock that isn’t predominantly a miner, you might want to check out the opportunity that Galaxy Digital Holdings (TSX:GLXY) offers investors.
The company is run by former hedge fund manager Mike Novogratz and is the only one of its kind. Rather than being a technology company like most crypto stocks are, Galaxy Digital is a financial services and investment management company that operates in the cryptocurrency industry.
This is why it’s such an excellent opportunity. Galaxy Digital is slowly building up the most complete investment company in cryptocurrency.
It has divisions for asset management, investment banking, trading, principal investments, as well as many other advisory services.
This is what makes it such a unique crypto stock and one of the best long-term investments you can make in the space.
So if you’re looking for an explosive crypto stock that can grow your capital rapidly, I’d consider taking a long-term position in Galaxy Digital today.
The post 3 Explosive Crypto Stocks That Could 10X in 10 Years appeared first on The Motley Fool Canada.
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Fool contributor Daniel Da Costa owns shares of Galaxy Digital Holdings Ltd. The Motley Fool has no position in any of the stocks mentioned.
2021
