In this piece, we will take a look at ten crypto stocks billionaires are loading up on. Cryptocurrency is an entirely new asset class that is not based on anything tangible, but only on the countless zeroes and ones that form the fabric of the digital universe. Bitcoin, the world’s foremost cryptocurrency, has made countless millionaires and even bankrupted some people. Over the past five years, it has returned more than the shares of the world’s biggest tech company, Apple Inc. (NASDAQ:AAPL).
However, the volatility in energy prices has been a cause of stress for Bitcoin miners. Additionally, investing in cryptocurrencies is not only limited to buying the coins. There is a diverse ecosystem of companies that operate in the industry, ranging from those that provide a platform to trade the cryptocurrencies to those that provide the hardware and others that do the mining.
The global cryptocurrency market is expected to grow at a compounded annual growth rate (CAGR) of 12.90% until 2032 to be worth $7 billion. Part of this growth will come from developing countries adopting cryptocurrency, even as North America was the largest market in 2022.
To compile our list of the top cryptocurrency stocks that billionaires are buying, we first compiled a list of firms that allow crypto trading on their platform, mine cryptocurrency, and make the hardware for crypto mining. Then, the number of their billionaire investors as of the first quarter of 2023 was determined using Insider Monkey’s database of billionaire-owned stocks.
The crypto stocks billionaires are loading up on include CME Group Inc. (NASDAQ:CME), NVIDIA Corporation (NASDAQ:NVDA), Interactive Brokers Group, Inc. (NASDAQ:IBKR), Greenidge Generation Holdings Inc. (NASDAQ:GREE), HIVE Blockchain Technologies Ltd. (NASDAQ:HIVE), Marathon Digital Holdings, Inc. (NASDAQ:MARA), Iris Energy Limited (NASDAQ:IREN), and Canaan Inc. (NASDAQ:CAN).
For more stocks, head on over to 5 Crypto Stocks Billionaires Are Loading Up On. Disclosure: None. 10 Crypto Stocks Billionaires Are Loading Up On is posted on Insider Monkey.
