For Immediate Release
Chicago, IL – November 29, 2024 – Today, Zacks Investment Ideas feature highlights MicroStrategy’s MSTR, IBIT, Coinbase COIN and Marathon Digital MARA.
3 Crypto Stocks to Buy Now: IBIT, COIN, MARA
Is Bitcoin a currency? Store of value? Digital gold? The debate on Wall Street about what Bitcoin is and what purpose it serves continues to drag on into 2025. Regardless of where you stand in the Bitcoin debate, the largest crypto’s performance is undeniable.
Bitcoin has been the best-performing asset class since its inception and enjoys an outsized triple-digit compound annual growth rate (CAGR). On an yearly basis, Bitcoin has been higher in eleven of the past 14 years and has produced triple-digit gains in nine of those years.
December Bitcoin Outlook
Though performance in 2024 has been stellar, Bitcoin’s price hit a wall just below $100k and has retreated. Below are three reasons to buy the Bitcoin dip:
1. Political Changes: The election of Donald Trump means that there will be significant pro-Bitcoin changes politically.
2. Public Company Adoption:Publicly traded companies like Semler Scientificand Rumbleare following MicroStrategy’s lead and are adding Bitcoin to their balance sheets.
3. Year-end Chase: Investors will likely chase Bitcoin into year-end with the $100k level acting as a “magnet.”
3 Crypto Stocks to Buy
iShares Bitcoin ETF IBIT is the most liquid Bitcoin ETF and is experiencing its first pullback since breaking out of an eight-month base structure. For those who want a “pure play,” IBIT is the best option.
Coinbase
No other company will benefit from political changes more than COIN. SEC Chair Gary Gensler has continuously failed to provide “regulatory clarity” to the company. In addition, COIN CEO Brian Armstrong will have political sway as a crypto advisor to President-elect Donald Trump.
Marathon Digital
MARA converts clean, stranded, or otherwise underutilized energy into economic value with the most efficient hardware available. Recent relative strength and price action in the stock suggests that the stock will be much higher into year-end. MARA shares are breaking out of a quarterly bull flag pattern.
Bottom Line
Political changes, public company adoption, and the $100k “magnet” are three reasons Bitcoin and Bitcoin proxies are likely to be higher into year-end. IBIT, COIN, and MARA are three stocks to buy to take advantage.
Why Haven't You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +7.0 average gain per year. Amazingly, they soared with average gains of +44.9%, +48.4% and +55.2% per year.
Today you can access their live picks without cost or obligation.
Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Free Today: Profiting from The Future’s Brightest Energy Source
The demand for electricity is growing exponentially. At the same time, we’re working to reduce our dependence on fossil fuels like oil and natural gas. Nuclear energy is an ideal replacement.
Leaders from the US and 21 other countries recently committed to TRIPLING the world’s nuclear energy capacities. This aggressive transition could mean tremendous profits for nuclear-related stocks – and investors who get in on the action early enough.
Our urgent report, Atomic Opportunity: Nuclear Energy's Comeback, explores the key players and technologies driving this opportunity, including 3 standout stocks poised to benefit the most.
MicroStrategy Incorporated (MSTR) : Free Stock Analysis Report
Marathon Digital Holdings, Inc. (MARA) : Free Stock Analysis Report
Coinbase Global, Inc. (COIN) : Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
