Top 3 Cryptocurrency Stocks Poised for Major Gains
Investors in the financial markets need to understand that interest rates tend to drive most money shifts and activity in asset classes, especially ones with differing risk profiles. When it comes to stocks, most see a bullish sentiment shift when the Federal Reserve (the Fed) decides to cut interest rates such as it did recently, but there is more upside to be had in what most deem as ‘riskier’ alternatives.
One of these spaces is cryptocurrency, specifically led by its benchmark product—or coin—Bitcoin. When there are no yields to be found in stocks or bonds, investors have historically looked to buy Bitcoin (CRYPTO: BTC) as an alternative way to outpace inflation and other assets. This time, new interest rate cuts don’t have to mean investors have to go out and buy Bitcoin, but they could mean they should buy Bitcoin-related stocks instead.
Some of these names include Coinbase Global Inc. (NASDAQ: COIN), a centralized exchange for buying and selling Bitcoin and other cryptocurrencies, which is set to generate fees ahead of the volatility in these markets. Then there is MicroStrategy Inc. (NASDAQ: MSTR) as a Bitcoin holder to see its book value rise on new cryptocurrency demand, the same trend to be amplified (for a bit more risk) in smaller CleanSpark Inc. (NASDAQ: CLSK).
Coinbase Stock Offers Double-Digit Upside for Investors
As the cryptocurrency market has yet to start reflecting the upside and potential rally stemming from interest rate cuts in Bitcoin, stocks like Coinbase have yet to catch up to the rest of the …
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