The crypto market has been gaining a lot of attention in recent years, and for good reason. With the increasing adoption of digital currencies and blockchain technology, many investors are turning to crypto-related stocks as a potential way to gain exposure to this rapidly growing market.
Two crypto stocks that investors may want to keep an eye on are Square Inc (SQ) and Marathon Patent Group Inc (MARA).
Square Inc, a payment technology company, has been making significant investments in the crypto space. In October 2020, the company invested $50 million in Bitcoin, and in 2021 it announced that it would allow users to buy and sell Bitcoin through its Cash App. Additionally, Square has also applied for a crypto-related patent that would make it possible for users to use Bitcoin as collateral for loans. This shows the company’s commitment to the crypto space and its potential to benefit from the growth of crypto.
Marathon Patent Group Inc is a digital asset technology company that mines and acquires digital assets. The company has been focusing on Bitcoin mining, and recently announced that it has purchased 10,000 Antminer S-19 Pro ASIC miners from Bitmain, a leading manufacturer of Bitcoin mining hardware. This move is expected to increase the company’s Bitcoin mining capacity significantly, and could potentially drive future revenue growth.
However, it’s important to note that investing in crypto-related stocks comes with its own set of risks. The crypto market is highly volatile and can be affected by a number of factors such as regulatory changes, market sentiment, and technological advancements. Additionally, these stocks are also subject to the general risks of investing in the stock market.
In conclusion, Square Inc and Marathon Patent Group Inc are two crypto stocks that investors may want to keep an eye on for potential gains. While both companies have shown commitment to the crypto space and have potential to benefit from the growth of crypto, it’s important to consider the risks involved and conduct thorough research before making any investment decisions. Consult with a financial advisor before making any decisions.