Love it or hate it, blockchain-based cryptocurrencies are not going anywhere. Whether or not they’ll make a permanent mark on the way we conduct our online business – using currency for trades and purchases – is still up in the air, but there can be no doubt that crypto has brought blockchain mainstream and introduced a new trading asset to our portfolios.
Deutsche Bank, in a broad-based, end-of-year survey looking at a market trends heading into 2022, included a section on crypto, with some fascinating results. Research analyst Brian Bedell tells us that a large majority of respondents on the crypto section “expect to increase their cryptocurrency usage which amounts to 70% or higher whether than [sic] be trading, investing, or transacting.”
This makes sense, given the concluding point, “that 60% agree that cryptocurrencies have some form as a store of value, which has been a topic of debate as the product has gained more acceptance.”
All of this brings us to the point of crypto-related stocks. There are plenty of companies out there involved in the crypto craze, and investors can usually find a way into crypto through the stock market. Bitcoin mining, digital currency financing, online trading — all provide unique sets of attributes.
With this in mind, we’ve dipped into the TipRanks database to pull the details on three crypto stocks, to find out what’s making them tick. The platform revealed that these are Strong Buy tickers, and, more importantly, all three offer considerable upside potential. Let’s take a closer look.
Stronghold Digital Mining (SDIG)
Let’s start with Stronghold, a bitcoin mining company with a twist. Stronghold has based its power usage – which in bitcoin mining is always substantial – on an ‘environmentally beneficial coal refuse power generation facility,’ giving it a Tier II alternative energy system classification in the state of Pennsylvania. Stronghold boasts that it is using 21st century bitcoin mining and energy tech to help clean up the environmental messes of previous eras.
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The cleanup is big. Stronghold has two power generation facilities…
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