3 blockchain stocks worth getting excited about

Blockchain stocks are quickly becoming must-have bets for savvy investors.

As the backbone of crypto transactions, blockchain technology offers unparalleled transparency and security in record-keeping. Although it is traditionally known for its role in the crypto space, its utility extends across various technology verticals and industries. It effectively increases the integrity of transactions across multiple sectors within a decentralized framework.

Additionally, given the lofty analyst forecasts, blockchain could be one of the most explosive areas of investment in the next few years. According to a report by Fortune Business InsightsThe The blockchain space could grow at a 52.8% CAGR over the next eight years. In addition, a current survey by the crypto exchange octopus showed a growing preference for crypto investments over traditional investment options such as stocks or real estate.

However, these three blockchain stocks could deliver excellent returns over the long term while keeping up with rapid technological advances in the niche.

Blockchain Stocks to Buy: Mastercard (MA)

MasterCard (NYSE:M.A) is a payment processing giant that continues to thrive in the transition to a cashless economy. Despite the challenges posed by the blockchain industry, Mastercard has proactively embraced and integrated the technology to strengthen its services while securing its market position.

Mastercard is a leader in the blockchain space through its transformative Multi-Token Network (MTN). The robust platform facilitates simplicity and security of transactions through its unique tokenization methods. Tokens are like digital versions of your bank account, holding money in a safer and more reliable form.

Additionally, Mastercard is becoming a hotbed for DeFi app development, enabling developers to create unique and powerful applications. Its powerful platform offers a variety of APIs and tools for services covering everything from payments to security. His partnership with MoonPay also highlights its foray into blockchain and Web3, strengthening user trust and engagement across multiple industries.

Block (SQ)

Fintech giant block (NYSE:square) is one of the most popular financial services and mobile payment companies. It is known for its innovative applications such as Cash App, which attracts more than 50 million users worldwide. In recent years, the company’s focus has shifted towards blockchain through significant investments Bitcoin (BTC USD) and becomes a DeFi app development platform.

Block has invested a massive $220 million in Bitcoin, and according to its first quarter (Q1) results, so has his stake grew to over $573 million. Given BTC’s explosive performance in the first quarter, Block’s BTC-related gross profits increased to $80 million. The company also announced plans to effectively reinvest 10% of its BTC profits back into the company. Additionally, the company’s year-over-year growth in profitability metrics has risen above its historical averages, showing impressive growth.

Additionally, recent projects like Bitkey, its first Bitcoin wallet, allow Cash App users to trade directly with Cash App Coinbase Global (NASDAQ:COIN). Additionally, a developer platform called TBD was launched to make it easier to create decentralized apps.

Riot Platforms (RIOT)

Riot Platforms (NASDAQ:REVOLT) is one of the dominant players in the BTC mining space and is a leader with its energy-efficient ASIC miners. Given the strength of BTC prices in the first quarter and the lion’s share of 2023, the company has grown its revenue base at an encouraging pace. However, the share price has not followed suit with RIOT stock Decline of more than 30% year-to-date (YTD). With interest rate cuts on the horizon, the stock is undervalued and offers excellent upside potential.

The company is financially resilient, reporting a massive cash buffer of $688 million in the first quarter, supplemented by $606 million in BTC assets. These massive crypto reserves and a debt-free balance sheet enable Riot to make aggressive investments in its mining capacity.

Looking forward, Riot’s hash rate capacity was 12.4EH/s in the first quarter and is expected to reach that level to 31.5EH/s by the end of the year. Such strategic scaling is expected to significantly increase revenue and EBITDA for 2025. Therefore, the company’s healthy financials, aggressive growth targets, and favorable market outlook make RIOT stock a compelling choice.

At the time of publication, Muslim Farooque 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 author and are subject to InvestorPlace.com’s publication policies

The responsible publisher did not hold, directly or indirectly, any positions in the securities mentioned in this article at the time of publication.