Have you been watching the rise of cryptocurrencies with excitement? Well, you’re not alone. With Bitcoin soaring a staggering 91% over the past year, the ripple effect is being felt across various corners of the market, including crypto-powered stocks. This summer, three stocks are catching everyone’s attention and are expected to make significant gains: Block (SQ), Robinhood (HOOD), and CME Group (CME).
Block (SQ): Formerly known as Square, Block has been bullish on crypto from the get-go. They even changed their name to reflect their commitment to blockchain technology. Block isn’t just talk—they’ve put their money where their mouth is by investing 10% of their gross profit from Bitcoin back into the asset. With their Cash App allowing users to trade Bitcoin and contributing to a 25% profit increase year-over-year, Block is positioned to ride the crypto wave with strong financial backing and innovative initiatives.
Robinhood (HOOD): Known for its user-friendly, commission-free trading platform, Robinhood has become a favorite among investors. In the past year, its stock has skyrocketed by 110%! Robinhood allows trading of multiple cryptocurrencies, which forms a significant part of its revenue. With the acquisition of Pluto, an AI-driven research platform, Robinhood is set to provide even more custom trading strategies and insights, further enhancing its appeal and solidifying its position in the market.
CME Group (CME): As one of the largest derivatives exchanges globally, CME Group offers trading in various commodities, including crypto futures. With plans to launch a Bitcoin trading feature, CME is poised to benefit from the growing interest in cryptocurrencies. Their robust financial performance, reflected in a 3% revenue increase year-over-year to $1.5 billion, makes them a strong contender for investors looking to capitalize on the crypto boom.
So, if you’re keen on getting a piece of the crypto action without diving headfirst into the volatile world of digital currencies, these crypto-powered stocks offer a promising alternative. Keep an eye on Block, Robinhood, and CME Group—they’re set to make waves this summer!
