Blockchain is the technology that makes it possible for Bitcoin and other cryptocurrencies to exist. But despite powering one of the most revolutionary and exciting fintech trends in recent times, a recent survey found that one-fifth of respondents didn’t understand blockchain or decentralized finance.
Investors who fail to get with the times and look into crypto will potentially miss out on huge potential gains, as Markets and Markets reports that the blockchain market size is expected to grow to $67.4 billion by 2026. For this reason, it is prudent for any investor to seek out and invest in blockchain companies now. Here, we list down some blockchain stocks that you should strongly consider adding to your portfolio.
Square Inc. (SQ)
Square is a San Francisco-based fintech company that’s known for its person-to-person payment platform and small business payment-processing ecosystem. Investing in Square gives you exposure to blockchain in two ways. For one, Cash App permits users to buy and sell bitcoin with ease. In addition, Square also has a team of bitcoin developers that are on track to release several exciting crypto projects soon. Square is an excellent stock to consider if you want to add a blockchain stock to your portfolio. And with company co-founder Jack Dorsey announcing that the company had generated a Bitcoin revenue of up to $2.72 billion during the second quarter of this year, it is now one of the most sought after stocks.
Nvidia is known to the world as the company that designs graphics processing units for gaming and professional systems. However, the company is so much more than that. Trusted financial resource AskMoney.com notes that Nvidia is planning to partner with other companies to develop automated electric vehicles and artificial intelligence, as well as create chips that are specifically used for mining cryptocurrency. Blockchain miners need specialized GPUs to smoothly execute transactions on the blockchain, and Nvidia has risen to this demand. Because mining crypto is a highly lucrative business, we’ll definitely see more miners patronizing Nvidia’s technology, which will see its stock prices soar.
Another blockchain company that you should invest in now is Docusign. It is one of the best-known companies when it comes to e-signature technology, and has essentially revolutionized document processing for many organizations and individuals. Since 2015, Docusign has been known to use blockchain technology in order to allow clients to leverage the Ethereum blockchain for their agreements. Because of the services they offer, the company has also been able to avoid huge profit losses due to the pandemic. Business magazine and website Entrepreneur.com notes that Docusign’s earnings grew by triple-digits in seven of the past eight quarters, making it a must-have stock for those who seek stability and growth.
Stock investors shouldn’t ignore the growth that is offered by companies that are involved in blockchain tech. If you want to future-proof your investment portfolio and gain significant investment returns, be sure to consider the blockchain stocks above.