The 3 Best Bitcoin Stocks of 2017

November 22, 2017

The 3 Best Bitcoin Stocks of 2017

This year can rightfully be called a year of cryptocurrency. If the market capitalization of the cryptocurrency was nearly $18 billion at its beginning, the total cost of all the existing 1276 digital currencies went up to $246 billion, by 1366%. By comparison, it’s taken the S&P 500 decades to achieve the same amount of income, to the fact that it includes 500 selected US joint-stock companies.

As a consequence, Bitcoin is undoubtedly the most popular investee in digital currencies. Certainly, not everyone wants to buy Bitcoin through trading platform. Even that is why, investors have been eagerly looking for Bitcoin exposure in the stock market.

There are the top-3 best Bitcoin stocks in general, one way or another connected with the most famous cryptocurrencies.

Bitcoin Investment Trust (BIT): up 623%

This year the top Bitcoin stock was the BIT fund sponsored by Grayscale Investments (NASDAQOTH: GBTC). The fund owns a fixed number of Bitcoins, making it easy for investors to calculate its net asset value. Considering its listing in the over-the-counter markets, it can be seen that BIT gives investors potentially improved liquidity and probably traditional transparency, nothing like purchasing Bitcoin directly on a decentralized exchange.

However, there are also some downsides. In recent month the market value of shares was unstable. The price has consistently ranged between 25% and 100%, higher than its net asset value. In other words, investors have been paying overvalued prices for a share which is connected with Bitcoin, rather than directly buying a cryptocurrency at the exchange.

To crown it all, the fund annually charges the fee in the amount of 2% of your investments.

Overstock.com: up 199%

The following company is the online store Overstock.com (NASDAQ: OSTK) whose shares since the beginning of the year have increased by 199%. It is important to keep in mind, that Overstock is the first prominent retailer that decided to accept payments for their goods in bitcoins. Nevertheless, it is not the reason for the growth of shares in bitcoin. The investors’ interest is concentrated on subsidiary company of the online store-tZero, which develops a payment platform for the market capitalization.

Within several months tZero has developed the Medici t0 blockchain system. This system will supposedly deal with the crediting of securities, which, according to developers, “will perform work so qualitatively as well as the Wall Street firms, furthermore, will do it more efficiently and economically than the Wall Street firms do”.

NVIDIA: up 102%

The shares of this video cards’ producer (NASDAQ: NVDDA) have in recent years grown by 102%. Powerful NVIDIA graphics cards have always been in great demand among the miners, in addition, these cards are increasingly used  in the production of ASIC devices.

However, this is a total dilemma for NVIDIA shareholders because the company does not disclose the details of the sales volume. According to the recent news of the company, the revenue for the third quarter of this year is $1.56 billion that is 25% higher than last year. At the same time it is impossible to learn exact information on income from sales of video cards for purchasing.

Nevertheless, investors were able to take the advantages of NVIDIA’s success in the field of data processing and cloud technologies. Summing it up, for the last seven quarters the equipment sales for data centers have grown from $97 million to $501 million. To crown it all, as NVIDIA has an established reputation in the market and is a rapidly growing enterprise, it is possible to draw the conclusion that it is the most attractive option for investments among offered above.

 

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