As I write, Dogecoin (CCC:DOGE-USD) is trading at 60 cents. At the beginning of April 2021, Dogecoin was trading near 6 cents. Multi-fold return within a short period is just one reason why cryptocurrencies have witnessed wider adoption. With crypto adoption at an inflection point, it makes sense to include a few crypto stocks in the list of stocks to buy right now.
To elaborate on the pace of crypto adoption, in July 2020, the total number of cryptocurrency users globally was 74 million. With a surge in Bitcoin (CCC:BTC-USD), the interest in the crypto space has also increased significantly. In January 2021, global crypto users surpassed 100 million. This has increased investor interest in companies related to cryptocurrency mining, blockchain and cryptocurrency trading. There are several crypto stocks that have already delivered multi-fold returns in the last few quarters.
However, most of these stocks have cooled off after trading at all-time highs. After the profit-booking phase, crypto stocks seem to be in a phase of consolidation. A breakout on the upside seems imminent for the stocks that are discussed below.
Let’s talk about seven stocks to buy right now in the cryptocurrency space.
- 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)