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Top 7 Best Bitcoin Stocks, Reviewed for 2019

bitcoin stocks

If you want to invest in the potential future success of bitcoin but are not comfortable to buy and hold the digital currency directly, there are several bitcoin stocks that you could invest in to add bitcoin exposure to your investment portfolio.

Top 7 Best Bitcoin Stocks

In this guide, you will be introduced to seven of the best bitcoin stocks you could potentially invest in, ranked by market capitalisation.

Square Inc (SQ)

SquareSquare Inc is a mobile payments solutions provider and is widely known for its point of sale (POS) software and hardware options. Founded in 2009 by Jack Dorsey, the co-founder and CEO of Twitter, the company processes credit and debit card transactions for merchants.

Square recently enabled customers to buy and sell bitcoin using the Cash App (formerly Square Cash). The company reported $37 million in bitcoin trading revenues for Q2 2018. In the same period, the company recorded a $420,000 BTC profit from its bitcoin business.

Analysts predict Square Inc’s revenues to grow by up to 40 percent given its brand reputation and strong business model. Furthermore, the company has a high net promoter score of over 70 which means sellers are recommending the services to others.

Market data for SQ:

  • Market Cap: $30.731 billion
  • Share Price: $74.32
  • Earnings Per Share: -0.07
  • PE Ratio: 0
  • Dividend Yield(%): 0

AMD

blockchain stocksAdvanced Micro Devices (AMD) offers PC and gaming components and is recognised as a leading GPU provider for digital currency mining.

The company produces graphics cards that are used to mine ASIC-resistant digital currencies. AMD recently partnered with Sapphire, Biostar, ASUS, TUL, ASROCK, and Rajintek to provide eight different mining rigs. The rigs are tailored to hash rate optimisation for mining activities. These rigs are being marketed as ‘blockchain compute solutions’.

During the release of its Q4 2018 earnings the company expressed optimism about 2019, stating, “Despite near-term graphics headwinds, 2019 is shaping up to be another exciting year driven by the launch of our broadest and most competitive product portfolio ever.”

Market data for AMD:

  • Market Cap:$23.316 billion
  • Share Price: $23.38
  • Earnings Per Share: 0.3200
  • PE Ratio: 72.91
  • Dividend Yield(%):0

Overstock (OSTK)

OverstockOverstock is a US-based online retailer that accepts bitcoin payments. The company’s founder and CEO Patrick Bryne, an ardent believer in cryptocurrencies and their underlying technologies, pushed for the company to become one of the first major retailers to accept bitcoin.

In November 2018, the company announced plans to liquidate the traditional retail business in order to focus on its crypto-related ventures through its subsidiary Medici Ventures. The company plans to offer bitcoin on its site via Bitsy, a crypto wallet and portfolio company backed by Medici Ventures, during the first half of 2019.

Recently, the company also made headlines when it became the first major US company to pay taxes using bitcoin.

Market data for OSTK:

  • Market Cap: $623 million
  • Share Price: $19.38
  • Earnings Per Share: $-8.98
  • PE Ratio: 0
  • Dividend Yield(%): 0

Northern Bitcoin (NB2)

Northern BitcoinNorthern Bitcoin is a Germany-based bitcoin mining company. The company strives to be cost efficient by using renewable energy sources to run its own state of the art mining hardware. The company operates a data centre in Norway.

Some of the key drivers of this growth are the company’s bitcoin mining pool and mining software division. NB2 is listed on the Frankfurt Stock Exchange and its shares are denominated in euros.

Market data for NB2:

  • Market Cap: €129 million
  • Share Price: €17.20
  • Earnings Per Share: -0.24
  • PE Ratio: 0
  • Dividend Yield(%): 0

HIVE (HIVE)

best bitcoin stocksHIVE Blockchain Technologies is a Toronto Stock Exchange-listed cryptocurrency mining company. HIVE was launched in 2017 as the result of a partnership between Genesis Mining and Foire Group. The company runs modern GPU based crypto mining farms in Iceland and Sweden. In 2018, HIVE announced plans to also expand into Norway.

The company’s partnership with Genesis Mining, a cloud mining provider, offers investors exposure to the digital currency market by investing in mining rigs that power blockchains. According to the HIVE Q2 2018 financial results, the company has generated $30.3 million since it began mining operations in September 2017. Hive generated $6.5 million from mining digital currencies during the quarter, with a gross margin of $1.9 million.

Market data for HIVE:

  • Market Cap: $130 million
  • Share Price: $0.39
  • Earnings Per Share: $-0.12
  • PE Ratio: 0
  • Dividend Yield(%): 0

Bitcoin Services Inc (BTCS)

BTCSBitcoin Services Inc is a cryptocurrency mining company and developer of blockchain applications. The company is working to raise funds in order to acquire digital assets through open market purchases.

Furthermore, the company plans to invest in blockchain companies. Ultimately, Bitcoin Services plans to provide investors with indirect ownership of cryptocurrencies such as bitcoin and ether.

Market data for BTCS:

  • Market Cap: $18.6 million
  • Share Price: $0.0229
  • Earnings Per Share: $-0.0060
  • PE Ratio: 0
  • Dividend Yield(%): 0

MGT Capital Investments (MGTI)

MGT InvestmentsMGT Capital Investments is a US-based bitcoin mining company led by outspoken bitcoin advocate John McAfee. The company launched its mining operations in September 2016 at a Washington State mining farm. Since then, the company has established a new mining facility in Colorado.

MGT generates revenue by selling the accumulated BTC at the end of each mining week. However, ten percent of the mined BTC are retained for future investments. MGT’s operations include approximately 6,800 Bitmain S9 miners and 50 GPU-based Ethereum mining rigs. Going forward, the company aims to secure cheap energy and include more digital assets in its mining operations.

Market data for MGTI:

  • Market Cap: $7.879 million
  • Share Price: $0.0650
  • Earnings Per Share: $-0.737
  • PE Ratio: 0
  • Dividend Yield(%): 0

If you also want to add blockchain exposure to your investment portfolio, check out our review of the best blockchain stocks to look out for in 2019. 

*Disclaimer: This is not investment advice. Always conduct your own research before making any type of financial investment. 

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