3 Top Performing Cryptocurrency Stocks In The Past Year

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While the most popular cryptocurrency, bitcoin, has been experiencing a sell-off lately on concerns over the U.S. Treasury’s potential crackdown on money laundering executed through digital assets, it witnessed a big rally over the past year to hit a record high of $64,869.78 last week. According to CoinMarketCap data quoted in a Yahoo Finance article, the market value of all bitcoins in circulation has hit $1 trillion, surging 800% over the past year.

In sync with bitcoin, other cryptocurrencies, such as Ethereum, have also been selling off lately. But acceptance of cryptocurrencies by big-brand businesses like Tesla (TSLA) and Mastercard (MA), and growing investments by institutions in cryptocurrencies to hedge against increased global money supply, have driven digital currencies’ rallies over the past year. These factors, along with technological advancements, should continue driving the performance of cryptocurrencies this year and beyond.

Be it primarily a currency miner or companies developing backend technology, cryptocurrency stocks have seen a meteoric rise over the past year.  Marathon Patent Group, Inc. (MARA - Get Rating), GreenBox POS (GBOX - Get Rating), and Riot Blockchain Inc. (RIOT - Get Rating) have performed spectacularly over this period. However, considering the near-term concerns surrounding digital currencies, investors should keep an eye on these stocks for the best entry opportunities.

While digital currencies are attractive investments to institutional investors, the associated risks and their high volatility make them very risky for individual investors. Thus, many individual investors choose to go with cryptocurrency stocks rather than investing directly in digital currencies. Some investors consider this the best way to capture the upside of the crypto assets over the long term.

Marathon Digital Holdings, Inc. (MARA - Get Rating)

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