Savvy investors understand the wisdom of focusing upon pioneering market sectors such as blockchain technology.
Yet, the best blockchain stocks to buy are often overshadowed by the allure of cryptocurrencies like Bitcoin (BTC-USD) and Ethereum (ETH-USD). They represent a thrilling and potentially lucrative horizon.
Moreover, blockchain is rapidly gaining traction among premier firms with its promise to enhance security. Therefore, amidst the buzz of cryptocurrency rallies and endless debates on their validity, distinguishing the leading blockchain players from transient trends becomes imperative.
Furthermore, forecasts suggest blockchain’s growth could soar above 66% annually between 2022 and 2027. In this dynamic landscape, firms that are the fastest to adopt the technology stand to prosper. Thus, for those keen on seizing opportunities, these are the three blockchain stocks to buy for stellar returns.
PayPal (PYPL)
In the bustling landscape of blockchain stocks, PayPal Holdings (NASDAQ:PYPL) takes center stage as a pioneering visionary.
PYPL catapulted into the cryptocurrency arena in 2020, enabling users to buy, sell, and hold digital assets. The audacious leap into stablecoin payments distinctly underscores its unwavering commitment to the niche.
Despite the year-to-date (YTD) return revealing a dip of 21%, the recent financial metrics weave a narrative of remarkable resilience and promising growth. Impressively, its revenue climbed to an astonishing $7.3 billion, marking a robust 7% year-over-year (YOY) increase. Even more striking, PayPal’s net income experienced a meteoric rise, surging by a jaw-dropping 402% to reach a commendable $1 billion!
Further complementing its resilient financial performance, PayPal Holdings showcases an enticing P/E ratio of 16.41, drawing discerning eyes toward its valuation. Coupled with this, TipRanks analysts pinpoint a robust 50% upside, spotlighting PayPal’s undeniable potential among market players.
Riot (RIOT)
Riot Blockchain (NASDAQ:RIOT), with its impressive 170% YTD return, is a beacon in the blockchain revolution. Despite a 19% monthly dip in Bitcoin production, this titan registered an encouraging financial performance. Revenues touched $76.7 million, a 5.20% YOY rise.
Additionally, the net loss recorded was $27.69 million. However, it still marked a substantial 92.17% bump YOY. This resilience is rooted in Riot’s savvy strategic maneuvers during a cryptocurrency volume downturn and its pioneering energy use to power its Bitcoin mines.
Moreover, JPMorgan (NYSE:JPM) highlights a diversification trend among leading Bitcoin miners, hinting at Riot possibly easing its crypto dependency. Such foresight syncs with Riot’s expansive commitment to Bitcoin mining. Moreover, the staggering 118.8% upside from TipRanks underscores the mounting confidence in Riot’s trajectory.
Furthermore, Riot Blockchain embodies unparalleled strategic prowess within the blockchain domain. As the Bitcoin narrative evolves, Riot stands ready not only to adapt but to lead the charge forward.
MasterCard (MA)
Mastercard (NYSE:MA) is constructing a robust, centralized blockchain hub known as the Multi-Token Network (MTN).
This ambitious venture places paramount emphasis on three pivotal pillars – security, scalability, and seamless interoperability. In April, Mastercard introduced the “Mastercard Crypto Credential,” aiming to create common standards for trusted blockchain interactions between consumers and businesses.
Shifting focus to Mastercard’s financial prowess, the company boasts a remarkable 14% increase in revenue, soaring to a commendable $6.3 billion. This substantial growth is mirrored by a remarkable 25% surge in net income, settling at a whopping $2.84 billion.
In a world witnessing a global surge in credit card usage, Mastercard’s stock emerges as an enticing prospect for investors. Additionally, Mastercard’s stock experienced a 13% bump this year. TipRanks analysts, echoing this momentum, recommend a strong buy, forecasting an enticing 18% upside potential for savvy investors.
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.
