Blockchain is the technology used for bitcoin transactions, and other cryptocurrencies. Ethereum is a blockchain platform with endless possible applications beyond just its cryptocurrency ether. Beyond just cryptocurrencies there are now companies adopting and using blockchain inside their business models in different ways.
Below are a list of blockchain stocks that can be invested in to profit in the future growth of blockchain as a new technology.
- NVIDIA Corporation (NASDAQ: NVDA) Miners use specialized and powerful GPUs to process transactions on the blockchain and are then rewarded with newly minted cryptocurrency. NVIDIA produces these GPUs, they are like the Apple of blockchain hardware.
- Marathon Digital Holdings (NASDAQ: MARA) This company operates as a digital asset technology company that mines cryptocurrencies with a focus on the blockchain ecosystem and the generation of digital assets in the United States.
- Riot Blockchain Inc. (NASDAQ: RIOT) Together with its subsidiaries, Riot focuses on its cryptocurrency mining operation in North America. The company primarily focuses on bitcoin mining. As of December 31, 2020, it operated a network of 7,043 miners.
- CME Group (NASDAQ:CME) The Chicago Mercantile Exchange is the only exchange that creates a market for bitcoin futures contracts to be traded on. CME Group receives a small fee for every bitcoin futures trade made on its exchanges. While bitcoin was the original blockchain, ethereum is the first blockchain with full application ability and could be a traded as a futures contract eventually. The CME has proven it is the exchange open to listing other cryptocurrencies futures contracts in the future.
- DocuSign (NASDAQ:DOCU) DocuSign started using blockchain technology in its business model in 2015, allowing customers to record their agreements on the Ethereum blockchain. The CEO Dan Springer has said that blockchain technology will be a big part of the future of DocuSign’s business.
- Coinbase Global, Inc. (NASDAQ: COIN) Coinbase serves retail users, institutions, and ecosystem partners in the blockchain. It provides financial infrastructure and technology for the growing cryptoeconomy. They also provide primary financial accounting for the cryptoeconomy. Coinbase is a platform where clients can invest, store, spend, earn, and use crypto assets. It serves as an online marketplace for hedge funds, money managers, and corporate clients. It is a platform with technology and services for developers, merchants, and asset issuers that enables them to build applications that leverage crypto protocols.
- Paypal Holdings, Inc. (NASDAQ: PYPL) PayPal owns Venmo and it has starting accepting Bitcoin, Litecoin, Etherium, and Bitcoin Cash. Venmo allows customers to use these four types of cryptocurrencies to make transactions and view crypto trends. Venmo is now like the Paypal of the blockchain.
- Tesla, Inc. (NASDAQ: TSLA) Tesla was the first car company in the world to accept Bitcoin as a form of payment for its electric vehicles even though it has since stopped doing so. It may accept Dogecoin in the future as its CEO and founder Elon Musk loves the meme inspired cryptocurrency. Tesla could see more integration with blockchain technology in the future after being a trailblazer with accepting bitcoin.
- Square, Inc. (NYSE: SQ) Square is a blockchain stock in two ways. It’s Cash App allows users to buy and sell bitcoin. Square purchases of bitcoin added up to approximately 5% of the company’s cash holdings, Square owned about 8,027 bitcoins in total according to its last report, valued at approximately $400 million in late February 2021. Square has its own team of bitcoin developers, known as Square Crypto, that is working on many of its own projects.
- HIVE Blockchain Technologies Ltd. (TSXV: HIVE.V) HIVE operates as a cryptocurrency mining company in Canada, Sweden, and Iceland. It is involved in the mining and sale of digital currencies, such as Ethereum, Ethereum Classic, and Bitcoin. The company is headquartered in Vancouver, Canada.
