After hitting $35k the bitcoin rally seems to be under way. For speculative investors there are several crypto plays that will benefit from bitcoins next bull run. Here are a few to look at today.
Bitcoin miners are a “compelling investment alternative” compared with other forms of direct and indirect exposure to the largest cryptocurrency, according to investment bank Cowen. The publicly traded miners are poised to increase their market share of the Bitcoin network’s hashrate to about 36% by the end of the year from 13% currently, Cowen’s analyst Stephen Glagola said.
Marketing Worldwide Corp. (OTCMKTS:MWWC) put out a very exciting tweet last week. The company announced a major news push over the next month starting this week. MWWC is developing a crypto-mining platform called ‘Minosis’, the platform allows miners from novice to expert the ability to mine six different coins. The upcoming news event could be major catalysts for the stock. Make sure you are ready. Do your research on MWWC today.
Grayscale Bitcoin Trust (BTC) (OTCMKTS:GBTC) stock has been witnessing consistent rise following a big jump last year. The stock has corrected 9% so far this year. However, the stock has already jumped 125% in the past year.
The US Securities and Exchange Commission has continued to stall the approval of a Bitcoin spot exchange-traded fund . The SEC stated that it was delaying a decision on whether the biggest Bitcoin fund, Grayscale Bitcoin Trust can convert into a Bitcoin spot ETF. The securities regulator noted that Grayscale’s application failed to satisfy its concerns about manipulation, liquidity, and transparency in the Bitcoin market.
BIGG Digital Assets Inc. (OTCMKTS:BBKCF) stock is quite popular amongst traders as its a sub-penny stock. The stock has been witnessing heavy buying pressure at a lower level and has gained 55% in the past week.
Recently, the company announced the appointment of Mr. Shone Anstey and Ms. Susan Olson as independent directors to its board of directors, effective immediately. Mr. Shone Anstey is the CEO and Founder of LQwD FinTech Corp, the world’s first public Bitcoin Lightning Network company, where he brings over 20 years of experience as a tech entrepreneur in egtech, analytics, data centers, and cryptocurrency.
Mawson Infrastructure Group Inc (NASDAQ:MIGI) is another active stock in the Bitcoin mining sector. The stock ended lower by 2.365 to $5.80 in the previous session with more than 135K shares, compared to its average volume of 149K million shares. The stock has lost 57% in the past 3-month. The company announced it has partnered with Voltus, the leading distributed energy resource (DER) software technology platform, to deliver up to 100MW of energy resources to the PJM Interconnection (“PJM”) electricity grid in 2022.
Galaxy Digital Holdings Ltd. (OTCMKTS:BRPHF) stock has been showing high volatility on unusual volume. The stock has eroded most of its recent gains due to a broader sell-off in the sector. The stock has lost 15% in the past month. On Tuesday, the stock went down 3.19% to $13.98 with more than 158K shares, compared to its average volume of 324K shares.