Navigating the bustling world of cryptocurrencies, one might be easily swayed by the ever-growing list of digital coins. However, most of these projects are unlikely to endure the test of time over the next several years. Nevertheless, transformative blockchain technology’s massive long-term growth trajectory is hard to deny. As this innovation steadily entrenches itself across multiple industries, so does the allure of investing in the top blockchain stocks to buy among astute investors.
A staggering majority, over half of the Fortune 100 companies, are already diving into blockchain initiatives to fortify their competitive edge. The global blockchain market is expected to grow by a whopping 67.7% from 2023 to 2030. So, for those with an eye for wealth-building blockchain investments, now’s the time to uncover those hidden gems that promise exponential returns.
Block (SQ)
Block (NYSE:SQ) is the mastermind behind renowned platforms like the Square and Cash App. They’re meticulously crafting a road map for a prosperous future ahead, anchored in a robust investment framework and an ever-evolving ecosystem. The firm aims to achieve gross profit retention that effectively surges past the 100% mark and remains steadfast in upholding the Rule of 40 regarding adjusted operating income.
Investments in the blockchain realm are a critical part of the firm’s long-term strategy. Its second-quarter results displayed Cash App’s knack for delivering, posting a 7% year-over-year surge in Bitcoin (BTC-USD) gross profit. Moreover, a handsome 34% year-over-year leap in Bitcoin revenue showcases the firm’s commitment and growth in this domain.
Adding another feather to its cap, Block welcomed Neha Narula, a heavyweight from the MIT Media Lab with deep insights into Bitcoin and open-source tech, to its Board of Directors. This move solidifies the company’s deep dive into the blockchain realm. Moreover, with the prospects of a Bitcoin hard wallet and ventures into decentralized social media looming, BLOCK stock represents the industry’s finest.
PayPal (PYPL)
In the bustling financial ecosystem, PayPal (NASDAQ:PYPL) is a juggernaut in online transactions. While it’s renowned for its flagship payment processing prowess, its forays into verticals, including money transfers, underscore its drive for expansion. Moreover, with a sprawling network of over 400 million accounts across more than 150 countries, PayPal remains a formidable force.
It’s not mere speculation to label PayPal as a prime blockchain stock to buy, as its track record paints a vivid picture of a frontrunner in blockchain adoption. Back in 2014, it emerged as a pioneer in its niche to embrace Bitcoin payments. Fast forward to 2020, its crypto palette broadened to feature Ethereum (ETH-USD), Litecoin (LTC-USD), and Bitcoin Cash (BCH-USD). The subsequent year witnessed the launch of a groundbreaking initiative, enabling users to dabble in cryptocurrencies directly through the platform.
Later in 2022, it saw the birth of PayPal USD, a stablecoin mirroring the U.S. dollar’s value. Moreover, its ongoing projects, aiming to revolutionize cross-border payments, remittances, and even supply chain management using blockchain, are proof of its unwavering commitment to this sector.
Mastercard (MA)
Diving into the financial giants stepping up their game in the blockchain realm, Mastercard (NYSE:MA) emerges as a promising contender. This household name in payment processing is charting an intriguing path into the future, with blockchain at the core of its growth blueprint.
At its heart lies an ambition to broaden its payments horizon, targeting a plethora of customers, embracing diverse payment flows, and integrating various options from traditional card rails to cutting-edge blockchain and open banking systems. Moreover, as it rides the wave of cross-border travel, which effectively soared by 154% of its 2019 benchmark in the second quarter, the company’s travel-centric portfolios, complemented by ventures in loyalty and marketing, set it up for long-term success.
Zeroing in on blockchain, 2023 has turned out to be a watershed year for Mastercard. In April, the Mastercard Crypto Credential was revealed, a commitment to streamline interactions in the blockchain network by building robust infrastructure and standards. Additionally, June witnessed the debut of the Mastercard Multi-Token Network, aimed at fortifying transactions within the digital asset ecosystem with security, scalability, and interoperability.
On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines
