There are more ways than ever to invest in cryptocurrencies and other blockchain projects today. With direct investing, ETFs, and other assets available, there’s something to suit any strategy. Many investors choose to go with Bitcoin-related stocks that provide a wide range of exposure and risk. Here are some crypto stocks that any savvy investor should be watching in 2022.
Hut 8 Mining
Hut 8 Mining is a Canadian cryptocurrency company, the first to be listed on the S&P/TSX Composite Index. It’s a company that focuses solely on Bitcoin mining, much like smaller operations and individuals who invest in the equipment and utilities necessary to mine Bitcoin and other cryptocurrencies. The company generates about 10 Bitcoins each day, totaling about $426,000 at current pricing.
This stock provides very direct exposure to Bitcoin, with the majority of the company’s wealth being in nearly 6,000 Bitcoins. As such, the value of the company depends on the price of Bitcoin, while continued advances in mining resources and efficiency continue to drive up the stock’s value as well.
HIVE Blockchain Technologies
HIVE Blockchain Technologies is another Canadian blockchain company that is causing quite a stir in the industry. The company mines both Bitcoin and Ethereum, using only green energy to do so. This provides a better ESG outlook than most other blockchain companies, although it is becoming more common to make these kinds of commitments.
The company has a Bitcoin mining production of around 8.5 per day, along with Ethereum production of around 70 per day. That comes out to about $560,000 in cryptocurrency generation per day at current prices. The company is also branching out to new opportunities, with investments into NFT projects and other unique blockchain opportunities.
Voyager Digital is a cryptocurrency exchange that provides straightforward access to a wide range of cryptocurrencies through a simple and secure mobile application. It’s among the fastest-growing platforms in the United States today and continues to innovate and add new features.
Among the company’s most significant recent moves has been a strategic investment in CoinLedger, a cryptocurrency tax software provider. The partnership is set to provide cryptocurrency investors who use the Voyager platform with reliable crypto tax software. Given that taxes are one of the most challenging areas for US crypto investors, this development could see significant success for Voyager on the horizon.
Elon Musk’s electric vehicle company Tesla is one stock that investors can purchase to get exposure to both cryptocurrency and the rapidly growing EV industry. Report filings from the company show that it held just shy of $2 billion worth of Bitcoin as of December 31, 2021. That makes Bitcoin holdings a considerable portion of the company’s overall balance sheet.
With many countries making commitments to increase the proportion of electric vehicles on their roads in the decade ahead, Tesla could be one of the hottest shares that investors can buy today. With both cryptocurrency growth and EV adoption driving value, Tesla is one stock to watch carefully during 2022. That’s being said, there are new money-making schemes such as the Bitcoin Motion trading app which are constantly launched. A quick search for Bitcoin Motion review reveals that these systems are to be viewed with a grain of salt since they unregulated in most cases.
Galaxy Digital Holdings
Galaxy Digital is a financial services company that focuses largely on cryptocurrencies and other blockchain technologies. They’ve made a number of recent acquisitions that bode well for the future of the stock, including BitGo Holdings, a versatile digital asset company known for its cryptocurrency wallets.
Galaxy Digital has also recently made a major commitment towards a new sustainability program. With environmental concerns being at the forefront of blockchain technology today, this shows that the company is focused on long-term goals that should serve investors well in the years to come.