Investing in cryptocurrency has become increasingly popular, but not every investor is comfortable buying digital assets like Bitcoin (BTC) directly. For those seeking indirect exposure through traditional financial channels, crypto stocks offer a compelling alternative. These equities allow investors to gain market exposure via regulated brokerage platforms without managing private keys or navigating crypto exchanges.
In this guide, we analyze top-performing companies across five key categories: best value crypto stocks, fastest-growing crypto stocks, digital currency firms with strong potential, stocks showing the most momentum, and leading Bitcoin mining companies. All selections are based on fundamentals, revenue growth, recent news impact, and technical performance — ensuring a balanced, data-driven approach.
Note: While crypto-related stocks can offer high returns during bull markets, they are also highly volatile. Short-term price swings may exceed those of Bitcoin itself. Always invest with caution and within your risk tolerance.
How to Buy the Best Crypto Stocks
You don’t need a crypto wallet to invest in blockchain innovation — just a standard brokerage account. Most major trading platforms support the purchase of crypto stocks, making them accessible to everyday investors.
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Best Value Crypto Stocks
Value investing focuses on companies trading below their intrinsic worth. We evaluated firms based on fundamentals, year-over-year (YoY) revenue trends, recent developments, and distance from all-time highs.
Block Inc. (SQ)
Founded by Jack Dorsey, Block powers Cash App — one of the most widely used platforms for purchasing and transacting Bitcoin. As of Q1 2023, Block reported a 32% YoY revenue increase. Despite strong fundamentals and widespread adoption, its stock trades about 70% below peak levels, presenting a significant value opportunity.
Applied Digital Corp (APLD)
This U.S.-based firm specializes in high-performance computing (HPC) solutions for blockchain and AI applications. With a market cap exceeding $900 million and a recent $180 million deal with Character AI, APLD has gained investor attention. Yet it remains approximately 75% off its all-time high, offering room for growth.
Canaan Inc. (CAN)
Canaan developed the world’s first Bitcoin ASIC miner, the primary hardware used in BTC mining. Headquartered in Singapore, the company is shifting toward “green mining” initiatives. Although revenue declined in Q1 2023 — typical during bear markets — CAN still trades over 90% below its historical peak, making it a speculative value play.
Fastest-Growing Cryptocurrency Stocks
Growth investors prioritize rapid revenue expansion and strong year-to-date (YTD) performance.
Applied Digital Corp (APLD)
APLD leads this category with a staggering 193% YoY revenue growth in fiscal Q4 2023 (March–May). Its stock has surged over 400% YTD, fueled by strategic partnerships and rising demand for HPC infrastructure.
Interactive Brokers Group (IBKR)
A global brokerage offering access to stocks, ETFs, and cryptocurrencies, IBKR posted 63.72% YoY revenue growth as of Q1 2023. The stock is currently trading within 10% of its all-time high, reflecting consistent performance and investor confidence.
Robinhood Markets (HOOD)
After a challenging 2022, Robinhood rebounded strongly with 47.49% YoY revenue growth in Q1 2023. Its crypto offerings contributed significantly to this turnaround. HOOD is up roughly 60% YTD, signaling renewed market interest.
Digital Currency Companies With Major Potential
These firms show strong long-term promise due to innovation, favorable regulatory developments, and solid financial health.
Coinbase Global (COIN)
As the second-largest crypto exchange by trading volume, Coinbase stands to benefit directly from potential U.S. spot Bitcoin ETF approvals. If BlackRock launches such an ETF, Coinbase is expected to serve as custodian. Additionally, a recent court ruling determined that XRP is not a security when traded on secondary markets — a precedent that strengthens COIN’s legal position against SEC allegations. The stock is up over 200% YTD.
What Is a Spot Bitcoin ETF?
A spot Bitcoin ETF is an open-end fund designed to track the real-time price of Bitcoin. Unlike futures-based ETFs, it holds actual BTC, offering more direct exposure.
Advanced Micro Devices (AMD)
AMD produces CPUs and GPUs essential for blockchain processing and crypto mining. While often compared to NVIDIA, AMD maintains a much smaller market cap — less than one-fifth — despite doubling in value since年初. It remains over 30% below its all-time high, suggesting upside potential.
Riot Platforms Inc. (RIOT)
A U.S.-based Bitcoin miner planning to expand its fleet by 33,000 units in Q1 2024, RIOT distinguishes itself with a debt-free balance sheet and substantial cash reserves. It has gained over 400% YTD but still trades more than 75% below its peak.
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Cryptocurrency Stocks With the Most Momentum
Momentum investing targets equities experiencing strong upward price trends. To avoid bias toward miners (covered separately), we excluded pure-play mining firms here.
Coinbase Global (COIN)
COIN’s momentum was boosted by favorable court rulings on XRP’s classification, reinforcing its regulatory resilience. The stock continues to rally on positive sentiment around ETF approvals.
MicroStrategy Incorporated (MSTR)
Though primarily an enterprise analytics company, MicroStrategy became a de facto Bitcoin proxy after acquiring over 21,000 BTC starting in 2020. With no signs of selling its holdings, MSTR remains tightly linked to BTC’s performance. The stock is up 200% YTD but still over 65% below its all-time high.
NVIDIA Corporation (NVDA)
NVIDIA’s GPUs power both crypto mining and AI systems. In 2023, NVDA joined Apple, Microsoft, Alphabet, and Amazon as one of only five publicly traded companies to reach a $1 trillion market cap. Up over 200% YTD and near all-time highs, NVDA exemplifies sustained momentum driven by technological dominance.
Top Bitcoin Mining Company Stocks
Bitcoin miners have outperformed nearly all other crypto-related equities in 2023–2024. We selected leaders based on technical strength and fundamental soundness.
Marathon Digital Holdings (MARA)
Established in 2010 and based in Las Vegas, MARA boasts a market cap over $2.6 billion — among the largest in the sector. Its BTC holdings grew significantly in mid-2023 due to increased transaction fees from Ordinals activity. MARA is up over 300% YTD.
Riot Platforms Inc. (RIOT)
Already highlighted earlier for its strong fundamentals and expansion plans, RIOT also ranks among top-performing miners. Its combination of scalability, clean energy use, and financial stability makes it a standout.
Iris Energy Limited (IREN)
Focused on sustainable mining using renewable energy, IREN has risen over 300% in value this year. However, with a relatively small $375 million market cap, it carries higher volatility risk compared to larger peers.
Why Invest in Crypto Stocks?
Crypto stocks provide exposure to blockchain innovation without the operational complexities of owning digital assets directly.
Unlike holding crypto on centralized exchanges — where risks include platform insolvency (e.g., FTX) — or losing private keys in self-custody wallets, crypto stocks are held securely through traditional brokers.
Additionally, these equities can be included in retirement accounts like RRSPs, offering Canadian investors a tax-advantaged way to participate in the digital economy.
Benefits of Cryptocurrency Stocks
- Reduced risk: Avoid custody issues and irreversible loss of funds.
- Regulatory compliance: Trade through established financial institutions.
- Tax efficiency: Eligible for inclusion in retirement portfolios.
- Strong bull market performance: Many crypto stocks have outpaced the S&P 500 during rallies.
For example:
- COIN and MSTR: +200% YTD
- MARA and RIOT: +300%+ YTD
These gains reflect growing institutional confidence in blockchain infrastructure.
Risks of Cryptocurrency Stocks
Volatility remains a key concern. During bear markets, many crypto stocks fall harder than broader indices.
Example:
Block (SQ) rose ~780% between March 2020 and November 2021 — far exceeding SPY’s 215% gain — but lost ~75% of its value by November 2022, compared to SPY’s 33% decline.
Moreover, some companies may pivot away from crypto:
- AMD or APLD could shift focus from mining hardware to AI.
- MSTR might liquidate its BTC holdings.
Such shifts could reduce crypto market exposure even if the stock remains profitable.
New investors with low risk tolerance should proceed cautiously.
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Frequently Asked Questions About the Best Crypto Stocks
Q: What are crypto stocks?
A: Crypto stocks are shares of publicly traded companies involved in cryptocurrency ecosystems — such as exchanges, mining firms, or tech providers — rather than digital tokens themselves.
Q: Are crypto stocks safer than buying Bitcoin directly?
A: They eliminate certain risks like lost private keys or exchange collapses, but remain highly volatile and sensitive to crypto market cycles.
Q: Can I hold crypto stocks in my retirement account?
A: Yes — unlike most cryptocurrencies, crypto stocks can be held in IRAs or RRSPs through standard brokerage accounts.
Q: Do crypto stocks pay dividends?
A: Most do not currently pay dividends, as profits are typically reinvested into growth and infrastructure development.
Q: How do spot Bitcoin ETFs affect crypto stocks?
A: Approval could boost exchange and custody-related stocks like COIN, which may serve as authorized participants or custodians.
Q: Should I invest in miners or tech companies?
A: Miners offer direct BTC exposure but face operational risks; tech firms like AMD provide indirect exposure with broader business models and potentially lower volatility.
All data accurate as of July 2023.