After a brief correction, Bitcoin (BTC-USD) is back above $70,000. The crypto will probably breach the $100,000 mark before the end of the year. One reason is the Bitcoin halving. Further, with the likelihood of expansionary monetary policies, the crypto bull market has another catalyst. It’s still not too late to join the party, and there are strong buy crypto stocks to consider before they surge.

An important point to note is that based on past patterns, the crypto bull market will continue to gain momentum in 2024. Further, the market is likely to reach its peak by late 2025. If this assumption holds true, there is ample scope to make big money in Bitcoin, altcoins and crypto stocks.

This column focuses on three of the best strong buy crypto stocks. Over the next 18 months, these ideas could deliver multibagger returns. Let’s discuss the company-specific catalysts that will support the big rally.

Riot Platforms (RIOT)

Riot Platforms (NASDAQ:RIOT) stock is among the most undervalued crypto stocks to buy. The Bitcoin miner has strong fundamentals and aggressive expansion plans. As the cryptocurrency trends higher, I am bullish on stellar growth in revenue and cash flows. That will likely translate into a big rally for RIOT stock.

The first point to note is that Riot has a zero-debt balance sheet. Further, the company has a cash buffer of $908 million (including Bitcoin assets) as of Q4 2023. Therefore, the company has a strong war chest that will be utilized for accelerating growth.

It’s worth noting that Riot has already undertaken ambitious hash rate capacity expansion plans. As of December 2023, Riot had a mining capacity of 12.4EH/s. By the end of the year, the company expects the capacity to increase to 31.5EH/s. Expansion will continue beyond 2024 with a long-term target of 100EH/s.

For now, the surge in hash rate capacity coupled with a higher Bitcoin price implies robust free cash flows. That will add to the cash buffer for future expansion.

Bitfarms (BITF)

Bitfarms (NASDAQ:BITF) is another strong buy crypto stock for multibagger returns potential. BITF stock has been subdued in the recent past as the company raised $375 million through an at-the-market offering. However, I expect the stock to blast higher after some consolidation.

From a financial perspective, Bitfarms had reported a cash buffer of $118 million as of Q4 2023. With the recent fundraising, the cash position is close to $500 million. Further, Bitfarms has a zero-debt balance sheet.

I am bullish on a healthy upside for BITF stock because of two reasons. First, the company is a low-cost Bitcoin miner. With the digital asset making new all-time highs, revenue will likely surge with a massive EBITDA margin expansion.

Further, Bitfarms reported a hash rate capacity of 6.5EH/s in February. With the recent financing, the company expects to increase capacity to 21EH/s by the end of the year. That aggressive capacity expansion will boost revenue and cash flows.

Coinbase Global (COIN)

Coinbase Global (NASDAQ:COIN) stock has skyrocketed by 305% in the last 12 months. I believe the rally from deeply oversold levels will likely sustain, with a bullish outlook for Bitcoin.

There are two reasons in the foreseeable future to be bullish on cryptocurrencies. First, Bitcoin’s halving is due and will likely translate into a big rally for the crypto. Further, the Fed could cut rates later this year. Easy money policies will translate into higher speculative activity across asset classes. The best part of the rally for altcoins is still to come.

Specific to Coinbase, there are two positives to note. First, the company ended Q4 2023 with a cash buffer of $5.7 billion. Therefore, in a crypto bull market, Coinbase has ample flexibility to make big investments. Further, the company has been aggressively making inroads in international markets. Last year, it onboarded over 100 institutions to the Coinbase international exchange. I, therefore, expect healthy growth in revenue and adjusted EBITDA.

On the date of publication, Faisal Humayun did not hold (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.