Best Crypto Stocks to Watch Out For in 2022
The cryptocurrency market has been a wild ride, with highs and lows that have seen fortunes rise and fall overnight. Among the myriad of digital assets trading under the banner of cryptocurrencies, there are companies that specialize in providing services for these virtual coins. These service providers can be found among the crypto stocks listed on various stock exchanges around the globe. As we approach 2022, investors looking to capitalize on the cryptocurrency frenzy have a plethora of options available. In this article, we will explore some of the best crypto stocks to watch out for in the year ahead.
Tesla Inc (TSLA)
Tesla has been a trailblazer in incorporating Bitcoin into its operations. The electric vehicle giant made headlines when it announced plans to accept Bitcoin as payment for cars in several countries and regions, including Australia, Brazil, Germany, Japan, New Zealand, Norway, Singapore, Switzerland, the UK, and the United States. Tesla also holds over 1.5 million bitcoins, although this does not make it a crypto stock per se, its involvement with cryptocurrencies is significant enough to warrant mention in any list of best crypto stocks for 2022.
Square Inc (SQ)
Square, formerly known as CashApp, has been a major player in the retail adoption of Bitcoin and other cryptocurrencies. The company launched its own digital wallet and payment platform that allows users to buy, sell, and invest in Bitcoin easily. The introduction of the “Cash App Starter Card” which enables Square customers to buy cryptocurrency with their debit or credit card has further cemented Square's position as a leading player in the crypto space for retail investors.
MicroStrategy Inc (MSTR)
MicroStrategy is known more for its software solutions that help businesses transform how they operate and communicate with customers, but it's also famous for being one of the largest Bitcoin holders by market cap. The company has been on a Bitcoin buying spree over the past few years, with its portfolio now valued at billions of dollars in cryptocurrencies. This aggressive strategy has made MicroStrategy a polarizing figure within the crypto community, but undeniably, it's a key player to keep an eye on in 2022.
Block Inc (BCH)
Formerly known as Square, and after rebranding itself to focus more intently on its blockchain technology, Block is another company that could potentially be a game-changer for the crypto industry. Its core services include financial software platforms for both consumers and businesses, backed by innovative blockchain technologies. With its strong foothold in cryptocurrency payments and digital wallets, Block is well positioned to ride the wave of digital transformation in 2022.
Coinbase Inc (COIN)
Coinbase was the first major American cryptocurrency exchange that went public, leading the way for many other crypto companies to follow suit. The company facilitates trading between buyers and sellers across a variety of cryptocurrencies. Its user-friendly interface has made it a go-to platform for novice investors and retail traders alike. As one of the more regulated and mainstream crypto stocks in the market, Coinbase remains a key player to watch as regulation continues to evolve.
Riot Blockchain Inc (RIOT)
Riot Blockchain is not just another cryptocurrency company; it's a technology developer that focuses on blockchain-based products and services for industrial sectors such as gaming, digital identity verification, and more recently, the hosting of decentralized applications. With significant mining operations, Riot Blockchain has also seen value in Bitcoin mining and could be an interesting crypto stock to track in 2022 given its diversified technology portfolio.
Everipedia Inc (EVR)
Everipedia is a pioneering company that offers users the ability to create, own and manage their digital identities on the blockchain through the issuance of NFTs (non-fungible tokens). It's an innovative approach to personal identity in a world increasingly governed by online platforms. Everipedia could be another noteworthy crypto stock for investors looking to participate in this emerging segment of the cryptocurrency market in 2022.
In conclusion, while the cryptocurrency market remains volatile and unpredictable, these companies have shown themselves capable of navigating this turbulence effectively. The best crypto stocks for 2022 are not just about Bitcoin or altcoins; they're also about innovation, scalability, and regulatory compliance. As investors navigate their portfolios with caution but excitement, keeping an eye on these stocks could be a smart move as we approach the year ahead.