Top 5 Blockchain Stocks for Investment in 2020

Piyasi Mitra
Piyasi Mitra is a journalist, features writer and copy editor who has worked with The Times of India and the ABP Group, and is currently exploring content creation in the digital space.
  • The most promising Blockchain stocks at the moment include NVIDIA Corporation (NVDA – Get Rating), Intel Corporation (INTC – Get Rating), Square (SQ – Get Rating), CME Group and Overstock.com (OSTK – Get Rating).
  • NVDA is unparalleled in the graphics processing domain, with specialities in graphics processing units, communications/media processors.
  • CME Group is one of the global leaders in futures and options exchange, offering derivative securities for stocks, indexes, foreign exchange, and a host of other services.

If you’re looking to invest in traditional cryptocurrencies like Bitcoin and Ethereum, maybe it’s time to also consider putting your money on the foundation of cryptocurrencies: Blockchain. The specialised technology carries all the potential to emerge as the backbone of future economy, perhaps that is why some of the top global companies are investing in Blockchain today.

The most promising Blockchain stocks at the moment include NVIDIA Corporation (NVDA – Get Rating), Intel Corporation (INTC – Get Rating), Square (SQ – Get Rating), CME Group and Overstock.com (OSTK – Get Rating). Read on to get an overview of them.

NVIDIA Corporation (NVDA)

NVDA is unparalleled in the graphics processing domain, with specialities in graphics processing units, communications/media processors, and electronics which have created a loyal customer base worldwide. It is currently expanding its scope to include the Blockchain, and a chunk of cryptocurrency miners now rely on NVDA products to mine Bitcoin. NVDA also has a Blockchain platform that is based on the foundations of Artificial Intelligence with a view to make it easier for healthcare organizations to facilitate the analysis of complex 3D models. Out of 29 analysts who have analyzed NVDA, 24 rate it as a Buy, four rate it as a Hold, and only one advises selling. As Bitcoin prices and adoption increases, it could lead to higher demand for the company’s GPU chips.

CME Group

CME Group is one of the global leaders in futures and options exchange, offering derivative securities for stocks, indexes, foreign exchange, and a host of other services. Its USP lies in the fact that it is the only exchange that creates a market for Bitcoin futures contracts. Simply put, if Bitcoin interest soars, CME Group stands to see revenues peak. This is because company gets a fee for every transaction made on its exchanges. If cryptocurrency prices and volatility rise significantly in days ahead, it could translate into a decent additional revenue stream for CME Group.

Intel Corporation (INTC)

As a leading global supplier of semiconductors, chipsets, and microprocessors, INTC is another Blockchain stock investment trusted by investors. It not only has the potential to shape the development of blockchain technology, but has also dedicated an entire page of its website to enhance the Blockchain through technological innovation. Over the second quarter of 2020, Bitcoin revenue from the Cash App jumped 600% year-over-year to $875 million. 

Square (SQ)

The USP of SQ lies in creating favourable conditions for companies to sell products and services on the web. SQ facilitates money transfers with ease, and recently won a patent for quite the unique fiat-crypto payment network. Additionally, the company also has a Bitcoin auto-payment function, making it convenient for users to instantly buy Bitcoin through Cash App. Going by recent performances, SQ has consolidated its position as a Blockchain leader, especially as the fintech ecosystem transitions into a digital economy.

Overstock.com (OSTK)

A public statement on Overstock’s second quarter performance revealed a total net revenue worth $783 million, marking an increase of 109% year over year. Although most people know OSTK as a web-based closeout e-merchant that provides a wide range of merchandise ranging from kitchenware to electronics and apparel, it is also determined to be a Blockchain ecosystem pioneer. OSTK has also gone as far as starting a venture capital firm known as Medici Ventures to provide seed money for Blockchain startups. OSTK’s top crypto subsidiary is tZERO, a group that strives to eliminate brokers and directly compete with the leading stock exchanges. 

For all those who want to explore crypto investments but are nervous about putting their money directly into Bitcoin or Ethereum, investing in Blockchain technology could be more of a balanced alternative.

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