Although crypto has largely eclipsed the underlying technology, smart investors are not losing sight of blockchain’s long-term potential. The World Economic Forum recently published a long piece It describes many potential applications of blockchain technology, including luxury goods authentication, personal data management, and even advanced integrations with artificial intelligence and spatial computing.
Even the Catholic Church is Use of blockchain technology; In this case, the Vatican is converting printed manuscripts and books in its vast library and collections into NFTs to “demonstrate the utility of blockchain technology in protecting cultural heritage.”
The hard part, of course, is deciding which blockchain stocks to buy that offer long-term exposure to blockchain opportunities while avoiding the scams, scams, and general haze of questionable security of the associated crypto asset classes in the meantime minimize. But in my opinion, these blockchain stocks offer the best opportunity to do so – if you can tolerate the volatility in the meantime.
Accenture (ACN)
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Consulting company Accenture (NYSE:ACN) seems like an unusual choice among blockchain stocks to buy given its professional services-based business model. However, Accenture stands out from other consulting competitors by being one of the few mega-cap multinational firms to offer a comprehensive suite of blockchain-based services. This includes the blockchain Business integrationMetaverse management, supply chain optimization and digital identity management.
As blockchain technology continues to evolve and more companies of different sizes and industries explore its potential to address a variety of challenges, there is a need for specialized consulting services tailor-made blockchain solutions is becoming more and more urgent. Accenture’s early and significant investment in this niche positions the company for long-term growth and success in the blockchain consulting space.
At the same time, Accenture’s comprehensive professional services differentiate it from more speculative blockchain stocks and help it establish itself. The company is the most Current report These included an increase in operating margins and continued dividend strength, but also notably an increase in generative AI revenues as the company positions itself as a leading technology advisory firm able to capitalize on a range of emerging opportunities.
Broadcom (AVGO)
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Like Accenture, Broadcom (NASDAQ:AVGO) actively supports companies in integrating blockchain technology into their daily operations. However, Broadcom’s role is more technical and provides the essential infrastructure and security required for cross-implementation and management of the blockchain various applications. This shift to blockchain services is a strategic move to diversify Broadcom’s revenue streams and addresses a long-standing challenge for the stock, particularly following its acquisition of VMware.
Historical, Apple (NASDAQ:AAPL) contributed over 20% of Broadcom’s revenue across its 5G and mobile component segments. However, with VMware’s cloud computing synergies and a growing focus on blockchain technology, Broadcom is effectively reducing its dependence on a single large customer. Investors should note that VMware integration will cost approx 1 billion dollars in the short term in transaction costs and unfortunately also in VMWare First quarter did not deliver the expected performance under the new parent company. While there is legitimate criticism that the stock is fundamentally overvalued, those interested in buying blockchain stocks for the long term will find what they are looking for with Broadcom.
Block (SQ)
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block (NYSE:square) doubles its blockchain stock identity. After a few months of beta testing, the fintech stock is slowly rolling out its physical crypto wallet offerings. The saying “Not your keys, not your crypto” underscores Block’s appeal to customers wary of third-party custody, such as those offered by its subsidiary CashApp. BitKey, Block’s wallet, is unique compared to similar offerings in that it allows owners to conduct transactions across three domains: via a digital app, via the physical hardware and via an emergency access option housed in Block’s servers to protect against theft or loss of the primary device.
Beyond its blockchain ventures, Block stands out as a standout player in the broader fintech space, even as shares slumped throughout 2024, largely due to broader economic unrest and monetary policy. Nevertheless, the company combines the stability of a large company with the agility and innovative spirit of a startup.
The company’s first-quarter report included a whopping 22% year-over-year increase in gross profit, as well as massively improved margins at almost every level. The company also quadrupled net income, making Block perhaps the most undervalued blockchain stock on the market today.
At the time of publication, Jeremy Flint did not hold any positions in the securities mentioned. The opinions expressed in this article are those of the author and are subject to InvestorPlace.com’s publication policies.