Bitcoin prices surged passed all-time highs to reach $5700 on Friday. The cryptocurrency markets which recently lost their steam amid a crackdown from China are getting back their rigor, and investors are realizing the future belongs to the decentralized money. If you want to make money out of this cryptocurrency boom, here are some of the best Bitcoin stocks to buy right now.
NVIDIA is among the best Bitcoin stocks to buy right now because the company is benefiting from the increasing GPU sales amid the Bitcoin mining craze. Bitcoin enthusiasts around the world need high performance GPUs to mine cryptocurrencies. Every cryptocurrency, including Bitcoin, Ethereum and Litecoin, needs GPUs for mining.
Analysts think that NVidia shares will keep gaining because the demand for its GPUs will surge the appetite for Bitcoins is soaring. In the second quarter, NVidia’s GPU sales increased by 52%. ASUS recently launched a special GPU for cryptocurrency mining, Mining P106.
AMD has several growth catalysts, but Bitcoin and overall cryptocurrency boom is the most important one. AMD’s Radeon is one of the most efficient GPUs for Bitcoin mining. RBC Capital analyst Mitch Steves estimates that AMD earned about $200-$250 million revenue from Bitcoin-driven GPU sales in the second quarter. In August, AMD launched its much-anticipated GPU for Bitcoin mining, Vega 56. The device was sold within minutes.
Bitcoin Investment Trust was started by Barry Silbert who has a lot of interest in the digital currency market. The trust is currently trying to get a list on NYSEARCA platform. GBTC has been under a lot of criticism, but the trust has performed quite impressively. In 2015, it used to trade at about $32. Today, GBTC is trading at $667.
WPCS is a California-based company that provides communication and trading platforms for the cryptocurrency industry. The company also runs a very famous Bitcoin trading platform, btxtrader.com. This website provides its users a direct exposure to several cryptocurrency markets while also acting as a trading platform for Bitcoins.