Blockchains are decentralized databases accessible from all nodes in a network. In cryptocurrencies like Bitcoin, they are used to keep a trustworthy and decentralized ledger of transactions.
Blockchains eliminate the need for a trusted third party by providing a secure and immutable record of transactions. Financial technology (fintech) businesses, cryptocurrency miners, and blockchain technology producers all make up this sector.
The startup community can no longer hide that blockchain technology has enormous potential. Blockchain technology is being embraced by some of the most prominent titans in the tech industry and is making impressive inroads on Wall Street right now.
Companies that develop and host blockchain technologies, such as blockchain applications and cryptocurrency exchanges, are making their presence known on the stock market and providing valuable investments.
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Top Public Traded Crypto and Blockchain Companies in the USA
1. Nvidia (NASDAQ: NVDA)
Nvidia (NASDAQ: NVDA) dominates the graphics processing unit (GPU) market, a key component in cutting-edge technologies like AI, autonomous vehicles, and video games.
Moreover, graphics processing units (GPUs) are an essential piece of hardware for cryptocurrency mining. To summarise, “miners” use dedicated graphics processing units (GPUs) to validate blocks in a distributed ledger and are rewarded with newly created digital currencies. While the recent drop in cryptocurrency prices has dampened demand for Nvidia’s crypto-focused CMP chips, a recovery in the crypto market could spark a sales uptick. Even if it doesn’t, the rest of Nvidia’s operations are industry leaders and powerhouses.
2. Block (NYSE: SQ)
Block (NYSE: SQ), formerly known as Square, is a fintech company with two main divisions: its payment-processing ecosystem for small businesses and its Cash App personal financial platform. The firm also provides loans to other companies, a stock trading platform, and pay-over-time financing options. It also runs the Square Online Store platform, which businesses use to expand their e-commerce and omnichannel offerings.
Two key aspects make Block a blockchain stock. The most obvious feature of Cash App is that it facilitates the buying and selling of Bitcoin. A sizable portion of the company’s revenue comes from Bitcoin transactions, reporting more than $10 billion in purchases in 2021. Block also has its own Bitcoin development team, Spiral (formerly Square Crypto), working on several interesting initiatives and a public platform for blockchain app creation, TBD. This rebranding reflects the company’s priority shift to blockchain-based products and services.
3. International Business Machines Corp. (IBM)
IBM Blockchain offers solutions to enhance the safety and visibility of global supply chains, money transfers across borders, and food distribution networks. According to Bank of America analyst Wamsi Mohan, IBM is a diversified, defensive business with many recurring revenue sources. The tech giant’s stock outperformed the S&P 500 in 2022, gaining 10.6 percent on a total return basis, while the benchmark index dropped 19.4 percent. IBM is well-diversified and has a solid balance sheet. After closing at $145.19 on January 17 (with a “buy” rating and $145 price target from Bank of America), IBM stock doesn’t appear to have much room to run. However, you should remember IBM due to its reliable income and generous 4.5% dividend.
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4. Coinbase (COIN)
Over one hundred million people use Coinbase’s cryptocurrency exchange platform to buy, sell, and store digital currencies and NFTs. In addition to the Coinbase debit card, the app provides users access to cryptocurrency wallets and a rewards program. Coinbase is a reliable contender among current cryptocurrency stocks.
5. AMD
AMD, or Advanced Micro Devices, develops processors and other hardware components for use in server farms, workstations, and even video games. Secure and optimized blockchain transactions are powered by the company’s Blockchain Compute systems, which combine GPU and CPU hardware. With the help of other blockchain firms, AMD has developed blockchain-based platforms for 3D gaming and animation.
6. Galaxy Digital Holdings Ltd (BRPHF)
Galaxy, a market leader in digital assets and the blockchain, gives qualified institutions, startups, and individuals a foot in the door of the cryptocurrency economy. The financial services provided by Galaxy, such as trading, asset management, investment banking, mining, and ventures, are essential to the functioning of the digital economy.
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7. CME Group (CME)
Formerly known as the Chicago Mercantile Exchange, CME Group now manages the world’s most important futures and derivatives exchanges. CME was among the first global exchanges to allow trading in Bitcoin futures in late 2017.
CME’s entry into crypto paved the way for new investors and ETFs to join the crypto community, even though BTC futures had already been traded as unregulated securities on crypto exchanges.
CME Group has a significant advantage over its competitors because it is one of the few futures trading organizations in the United States, subject to federal oversight. The outlook for the company has improved as a result of this. CME Group is worth investigating for investors seeking a regulated means of getting into the cryptocurrency market.
8. MicroStrategy Inc. (MSTR)
When it comes to business analytics and intelligence, MicroStrategy is unrivaled. But crypto enthusiasts know it best as the publicly traded company with the largest holdings of Bitcoin. The cryptocurrency tracker CoinGecko estimates that MicroStrategy currently has over $2.2 billion worth of Bitcoins in its vault.
Michael Saylor, the co-founder of MicroStrategy, is an unabashed Bitcoin bull who predicts the price of the most valuable cryptocurrency in the world will rise to its previous all-time high of roughly $69,000 by 2026. MicroStrategy increased its Bitcoin holdings throughout 2022, including purchasing approximately 301 BTC coins in September 2022 at an average purchase price of $19,860.
Three analysts covering MSTR have set a consensus price target of $372, representing a potential upside of 92.9%.
9. Marathon Digital Holdings Inc. (ticker: MARA)
In addition to Bitcoin exchanges, investors can indirectly gain exposure to the cryptocurrency through Marathon (ticker: MARA). For its part, Marathon invests some of its own money in mining and mines Bitcoin directly. Marathon estimated it held roughly $387 million in Bitcoin at the end of 2021.
10. Riot Blockchain Inc. (ticker: RIOT)
Another Bitcoin mining company is Riot Blockchain (ticker: RIOT). Their Rockdale, Texas, facility is the largest in America. By the end of 2021, the company claimed it had mined enough Bitcoin to hold 4,884 coins worth approximately $233 million.
11. Mastercard (NYSE: MA)
Mastercard (NYSE: MA), a payment processing behemoth, has expanded significantly over the past few years as the shift towards a cashless economy has increased the number of debit and credit card transactions. The widespread adoption of blockchain technology has the potential to revolutionize the cashless payment industry, especially international money transfers, which have been notoriously time-consuming and expensive in the past.
To launch crypto-funded Mastercard payment cards, Mastercard has formed a Crypto Card partner program and announced partnerships with blockchain technology companies. In addition, Mastercard recently collaborated with cryptocurrency lender Nexo to introduce the first cryptocurrency-backed payment card.
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12. PayPal Holdings Inc. (PYPL)
An Expert in Electronic Transactions In a natural progression, PayPal has fully adopted blockchain and cryptocurrency. In addition to facilitating the purchase and sale of cryptocurrency, PayPal is reportedly considering the introduction of a stablecoin pegged to the dollar. According to Bank of America analyst Jason Kupferberg, PayPal’s buy now, pay later volumes more than doubled over the five-day Cyber Week shopping holiday in 2022, and the company’s Venmo mobile payment app and Braintree payment system for e-commerce companies are two key growth drivers. Stock in PYPL, which ended the trading day on January 17 at $80.18, is currently rated “buy” by Bank of America, with a price target of $112.
13. Silvergate Capital (SI)
Silvergate Bank, a subsidiary of Silvergate Capital, offers financial infrastructure solutions and services for the digital currency industry. Silvergate is a leading provider of innovative economic infrastructure solutions and services for the developing digital currency industry, and it is a member bank of the Federal Reserve System.
14. Visa Inc. (V)
Crypto.com and Coinbase are just two cryptocurrency exchanges that Visa has partnered with to issue crypto debit cards and credit cards. Additionally, Visa has recently submitted trademark applications involving cryptocurrency and other digital payment (NFTs).
Visa exposes shareholders to the cryptocurrency market as a whole but without the heightened volatility and risk typically associated with investing in less-established, pure-play cryptocurrencies.
15. GlobalX Blockchain ETF (ETF)
An exchange-traded fund (ETF) is more suitable than a single stock for your blockchain investment needs (ETF). Since its inception in the middle of 2021, the GlobalX Blockchain ETF (NASDAQMKT: BKCH) has helped investors gain exposure to a diversified portfolio of blockchain stocks through a single transaction.
The annual investment fee (expense ratio) for the GlobalX Blockchain ETF is 0.50% of assets, which is competitive for a specialized fund. It has a diverse portfolio of 25 companies, some publicly traded (Coinbase is the fund’s largest holding) and others that aren’t on any U.S. exchanges. In a nutshell, this ETF might be right for you if you are optimistic about the future of blockchain technology but want to avoid picking individual winners.
Conclusion
You may have noticed that all the companies represented here are either market leaders or large, established corporations.
Although the concept of blockchain has been around for about a decade, its actual implementation is just getting started. Blockchain can revolutionize the financial sector, the tech industry, and many others shortly.
