Ride the Crypto Boom with these 3 stocks.
About 15% of the American population owns some form of digital currency – and most of that segment has jumped on the bandwagon over the past two years. Cryptocurrency – Bitcoin is the most famous currency. But there are also other points – giving users a distinct advantage based on their blockchain technology. First of all, crypto coins are secure ̵1; as a digital technology, blockchain is difficult to break. Second, the coin has the primary feature of storing any value: scarcity has a mathematical limit for the amount of Bitcoin that can exist – and that limit gives them value. People want a safe online currency to be willing to pay, and a relatively rare crypto. (As opposed to traditional fiat currencies), it has both features. The consequences in recent years have been wildly popular as investors have begun to take a serious look at the crypto sector. Of course, any digital currency needs a variety of services to run, financial companies to back up and payment servers to handle transactions, to name just two other companies and key business figures – Elon Musk is ready. Will invest in this company.All this creates a landscape where investors can profit from crypto without buying real coins. They can be bought in companies that are ready to drive crypto growth for higher profits. How big is crypto? The market hit $ 2 trillion earlier this month, a number that is hard to guess. So, as usual, we turn to the TipRanks platform to help us understand an overview of crypto fairness. We have found three stocks – from different sectors – as some of Street’s top analysts are ready to deliver crypto-charged profits. Let’s dive in, Silvergate Capital (SI), we’ll start in the financial world by. It makes sense when we are talking about new financial assets such as crypto.Silvergate Capital is a California chartered commercial bank and provides financial and infrastructure services to clients in the cryptocurrency industry.Silvergate has been in the financial industry for over 3 decades and Earning a profit annually over the past 21 years, Silvergate entered cryptocurrency in 2013 by acquiring cryptocurrency clients.Currently, the company has more than 1,100 clients in the sector.In March of this year, Silvergate expanded its offering of cryptocurrencies. Cryptocurrency using custody services to hold Bitcoin as collateral for commercial loans in US dollars. This service offers large Bitcoin holders a way to access liquid capital without having to sell the underlying cryptocurrency.Silvergate provides Bitcoin collateral through Coinbase and Fidelity Digital Assets in their financial disclosures. Most recently for 1Q21, Silvergate reported earnings per share of 55 cents per share, 14% above the industry estimate and steadily improving, with 139% year-on-year growth. Supporting earnings growth Silvergate has a 29% year-on-year customer base growth. Cryptocurrency deposits rose from $ 5 billion at the end of December to $ 6.8 billion at the end of March. The company’s rapid growth can be seen in its share value, which has increased 582% over the past 12 months. Joseph Vafi, a 5-Star analyst from Canaccord Genuity, was impressed with Silvergate’s growth in cryptocurrency banking and wrote: Silvergate delivered again in Q1, highlighted by a nearly 40% increase in deposit growth, from a 130 +% q / q rise in Q4.This impressive deposit growth was driven by demand. Take advantage of the robustly growing Silvergate Exchange Network (SEN) as institutional interest in bitcoin continues to grow. As important as the impact of the two strategic deals with Fidelity and Coinbase outlined in Q1, in our view, it is clear that not only But it will become a major financial backlash in all institutional cryptocurrency trading, but now SI has become the main partner for cryptocurrency curators looking to offer significant margin lending to Silvergate. There is a competitive cost advantage in crypto margin lending because of its bank charter, which provides a very low cost of capital from increasing interest-free client deposits. The Top 100 Wall Streets analysts have bought SI stocks, and his $ 150 price target shows the stock has room for 36% growth this year. (To view Vafi’s history, click here.) Canaccord’s Vafi does. Unusual in his positive view, Silvergate has five recent reviews and includes four purchases per hold for Strong Buy’s consensus rating.The stock’s stock price is $ 107.22 and its average price target. $ 158 indicates a 45% upside, which is more profit than Vafi allows for next year. (See Silvergate stock analysis at TipRanks.) PayPal Holdings, Inc. (PYPL) While Silvergate is hardly a household name, PayPal has emerged as one.The company is the market leader in online payment processing, which is the industry. That boom in itself and revenues from top companies increased from $ 17.7 billion in 2019 to $ 21.4 billion in 2020. The company saw revenue increases, respectively, in the second, third and fourth quarters of Last year, and it saw Q4 earnings per share hit $ 1, up from 43 cents in the first quarter of the year before, PayPal’s growth came at the time of the epidemic, it was not surprising. We all know that e-commerce has grown over the last year, benefiting from a social blocking policy, and e-commerce requires an online payment processor.PayPal plays a leading role in that industry, with an active account. More than 377 million accounts carry 4.4 billion payment transactions, of which $ 277 billion in settlement volumes. In a major development for the company, PayPal announced in April that its mobile payment app, Venmo, will allow users to buy, sell and hold four cryptocurrencies: Bitcoin, Ethereum, Litecoin and Bitcoin Cash. One survey found that approximately 30% of Venmo users already handle cryptocurrencies. The move made their transactions more convenient and opened a simple crypto channel for Venmo Mark Palmer’s 70 million-strong user base, BTIG analysts pointed out to the key factor in its new Venmo feature. PayPal, as he wrote, “This is the first time consumers will be able to use crypto to make purchases in a mass store. Crypto options are now available in the US, with more than half of PYPL’s 29mm traders, with the company indicating that more will be added soon. This crypto will be a net positive for PayPal, and he backed it up with a $ 345 buy rating and target price indicating a one-year upside of 31% (to view Palmer’s history, click here) on Wall Street. Palmer’s approval is evident from the consensus rating of Strong Buy on stocks, backed by a new Buy rating of less than 29.These are more than 4 Holds that are set here with PYPL stocks traded in. A price of $ 262.29 and an average target price of $ 310.68 indicates the stock has grown 18% this year (see PayPal’s stock analysis at TipRanks). The latest CleanSpark (CLSK) CleanSpark is both a software company and a clean energy company. Initially – CleanSpark’s software products were designed to control microgrids and distributed energy systems. These systems allow users to go out of their systems by opting out of conventional power distribution to access cleaner green energy sources.CleanSpark provides control software for these systems. Earlier this year, CleanSpark made a few bold moves that are making waves in its own industry and in crypto.In March, the company offered to go public in the marketplace – more than 9 million common shares valued at $ 22. More than $ 200 million in equity capital before expenses That alone was informed by investors.In addition, the company began to use the funds to buy more bitcoin rigs.This is a computer system that created the new bitcoin. They use massive amounts of energy to cool off a lot, and CleanSpark has invested heavily. But in computational rigs, which slowly produce new bitcoins. But in the clean energy infrastructure to build the Atlanta mining site 95% carbon-free. The company’s latest investment in Bitcoin mining will begin to take shape later this year. And finally, in April, CleanSpark announced that it had contracted an additional 22,680 Bitcoin miners with the all-new rig installed.CleanSpark expects to increase Bitcoin mining production to more than 3.2 EH / s in the quarter. As of March 31, CleanSpark has produced 144 Bitcoins and has produced a total of 205 Bitcoins since it began mining operations in December.All of this, CleanSpark has not lost its original focus, the company also announced in April. It said the company had contracted a net increase of $ 16.2 million, a 220% year-on-year increase. In reporting this share for HC Wainwright, lead analyst Amit Dayal wrote, “We believe CleanSpark’s action in microgrid and Bitcoin mining can enable the company to meet our expectations for 2021 because of our assumptions. At this time, quite cautious. The stock has pulled back since its January 2021 peak, alongside other Bitcoin mining comps and the general weakness of smaller names. However, we believe that with the Bitcoin price remaining above our assumptions, no changes have been made to its mining operations, and that the company adds jobs to the microgrid system, the operating side of the story appears to be intact. We believe CleanSpark’s valuation remains compelling at current levels, with the company setting up for YoY revenue and profit growth of more than 150% and more than 1,000%, respectively, in fiscal 2022 ”following his improved outlook, Dayal provided. CLSK shares buy score with a $ 50 target price indicating 135% strong upside sentiment over the next 12 months. (To view Dayal’s track record, click here.) There are only two recent reviews on this stock – including Dayal’s – but both agree: This is the one to buy.CLSK shares are currently trading at $ 21.26. And its average target price is $ 47.50, suggesting 123% upside this year (see CleanSpark stock analysis at TipRanks). To find great ideas for trading stocks with attractive valuations, visit Best. TipRanks ‘Stocks to Buy, a newly launched tool that brings together all of TipRanks’ equity insights DISCLAIMER: The opinions expressed in this article are those presented only by analysts. This content is for informational purposes only. It is very important to do your own analysis before making any investments.