Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your experience. Save up to 40% More details

3 Cryptocurrency Comeback Stocks To Buy Now

By (Sean Sechler )Stock MarketsOct 15, 2021 05:47AM ET
3 Cryptocurrency Comeback Stocks To Buy Now
By (Sean Sechler )   |  Oct 15, 2021 05:47AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items

After taking a major downturn in the summer, cryptocurrencies have been bouncing back in a big way throughout October and proving that investors still have an appetite for these high-flying and volatile digital assets. With dozens of firms filing for SEC approval of bitcoin-based ETFs and Federal Reserve chair Jerome Powell stating that he has no plans to ban bitcoin in the United States, there are clearly some strong catalysts that could be helping to fuel the crypto comeback.

Some investors prefer to gain exposure to this burgeoning investment class through equities, and there are plenty of stocks to choose from if you are looking to go that route. Whether it's crypto mining specialists, massive exchanges making it easy for crypto enthusiasts to trade, or banks helping out institutional investors with their crypto transactions, these companies certainly have some intriguing business cases for investors to consider at this time.

Let's take a look at 3 cryptocurrency comeback stocks to buy now.

1. Hut 8 Mining Corp

If you’re interested in an up-and-coming digital currency mining company, Hut 8 Mining (NASDAQ:HUT) fits the bill. The Toronto-based company is one of North America’s largest digital asset miners and the number-one holder of self-minted Bitcoin on the continent. If you aren’t familiar with Bitcoin mining, it involves using high-powered computing equipment to solve computational puzzles. The process creates new Bitcoins and is a critical step for maintaining the ledger of transactions or blockchain.

Hut 8 Mining owned 3,824 BTC as of Q2, which means investors can gain direct exposure to the largest crypto by market capitalization without having to figure out how to set up a digital wallet and safely store their cryptocurrency. The company is also intriguing given its mining rig locations in Alberta, Canada, where it can use wind and natural gas to mine cryptocurrencies in a more environmentally sustainable way. Hut 8 reported its second consecutive quarterly record revenue in Q2 of $33.25 millionCAD, up 264.6% year-over-year, and is certainly a crypto stock to watch if the rally in digital currencies can continue.

2. Coinbase Global

This company has made buying and selling cryptocurrencies easy for retail investors, which in turn helped it become the leading cryptocurrency exchange in the United States. Coinbase Global (NASDAQ:COIN) generates the majority of its revenue from transaction fees that are charged as a percentage of a trade’s total value, which means that the company’s upcoming Q3 earnings report in November should be strong given how active crypto markets have been lately. The company is also trying to diversify its revenue streams with new business offerings like crypto debit cards, data analytics services, crypto collateralized loans, and more, which is another good reason to consider adding shares.

After making its public debut back in April of this year, Coinbase stock has been a major underperformer, which is a bit strange when you consider how strong cryptos have been for the majority of the year. With that said, the stock has been consolidating for months and just reclaimed all of the major moving averages, which could be a sign that it’s finally ready to start rallying. All-time high trading volume in Q2 of $462 billion, up 38% sequentially, and Q2 year-over-year revenue growth of 1,040% to $2.03 billion are further signs that this is a crypto monster stock in the making.

3. Silvergate Capital

Institutional investors are quickly getting on board the cryptocurrency train, which is a big reason why Silvergate Capital (NYSE:SI) should be on your radar. It’s a holding company for Silvergate Bank, a provider of financial infrastructure solutions and services to participants in the digital currency industry. The company’s Silvergate Exchange Network enables USD transfers between cryptocurrency exchanges and institutional investors 24/7, 365 days a year, which is a service that is extremely valuable since cryptocurrency markets are open all day every day.

Morgan Stanley recently initiated Silvergate Capital stock with an “overweight” rating and the stock is up more than 47% over the last month, yet there could be even more upside going forward if the crypto rally continues to pick up steam. It’s also worth noting that the company’s business model allows Silvergate to grow its non-interest-bearing deposits thanks to its innovative exchange network, and in turn use those funds to make interest on loans or invest in securities. Silvergate will announce its Q3 earnings next Tuesday, so make sure to check out how the company performed in the quarter if you are interested in this crypto comeback stock.

Original Post

3 Cryptocurrency Comeback Stocks To Buy Now

Related Articles

3 Cryptocurrency Comeback Stocks To Buy Now

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email