Best Cryptocurrency 15 Stocks for 2023 Without Buying Directly Crypto

Best crypto stock in 2023

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Best Cryptocurrency 15 Stocks for 2023 Without Buying Directly Crypto.

The 15 best crypto stock are MicroStrategy (MSTR), Square (SQ), PayPal (PYPL), Nvidia (NVDA), Tesla (TSLA), Grayscale Bitcoin Trust (GBTC), Marathon Digital Holdings (MARA), Coinbase (COIN), Galaxy Digital Holdings (GLXY), Visa (V), Advanced Micro Devices, Inc. (AMD), Overstock.com, Inc. (OSTK), HIVE Blockchain Technologies Ltd. (HVBT), Bit Digital, Inc. (BTBT).

Investing in cryptocurrency has become a popular option for investors seeking to diversify their portfolios and take advantage of the growth potential of the crypto market. However, investing directly in cryptocurrencies such as Bitcoin or Ethereum can be risky and require a lot of research and technical knowledge. Fortunately, there are alternative ways to invest in the crypto market without buying cryptocurrencies themselves. In this article, we will explore 15 stocks to invest in crypto without buying crypto, their benefits and risks.

Company NameTicker SymbolIndustryCryptocurrency ExposureMarket Cap (as of 2/25/2023)
MicroStrategyMSTRBusiness IntelligenceYes$11.6 billion
SquareSQPayment processingYes$95.9 billion
PayPalPYPLPayment processingYes$308.9 billion
NvidiaNVDAComputer hardwareYes$445.9 billion
TeslaTSLAElectric vehiclesYes$1.1 trillion
Grayscale Bitcoin TrustGBTCInvestment fundYes$3.7 billion
Marathon Digital HoldingsMARABitcoin miningYes$1.7 billion
CoinbaseCOINCryptocurrency exchangeYes$52.6 billion
Galaxy Digital HoldingsGLXYInvestment managementYes$3.9 billion
VisaVPayment processingNo$577.7 billion
Advanced Micro Devices, Inc.AMDComputer hardwareNo$147.9 billion
Overstock.com, Inc.OSTKE-commerceYes$1.4 billion
HIVE Blockchain Technologies Ltd.HVBTBitcoin miningYes$900 million
Bit Digital, Inc.BTBTBitcoin miningYes$222 million

Note: All data in this table is as of February 25, 2023.

The table compares the companies based on their industry, exposure to cryptocurrency, market capitalization, P/E ratio (TTM), and dividend yield (if applicable). Some key observations include:

Many of the companies on this list have exposure to cryptocurrency in some way, whether through mining, investing, or payment processing.
MicroStrategy has a significant portion of its treasury assets in Bitcoin and other cryptocurrencies, which has helped to boost its market capitalization.
Square, PayPal, and Visa all offer payment processing services that enable users to buy and sell cryptocurrency.
Nvidia and Tesla have both invested in cryptocurrency mining.

1. MicroStrategy (MSTR): MicroStrategy is a business intelligence software company that made headlines in 2020 for its significant investment in Bitcoin. The company holds more than 100,000 Bitcoins, which represent a significant portion of its balance sheet. Investing in MicroStrategy allows investors to indirectly invest in Bitcoin without having to purchase it directly.

Benefits: MicroStrategy’s investment in Bitcoin means that investors can potentially profit from Bitcoin’s price appreciation without having to directly invest in the cryptocurrency. The company’s investment also demonstrates a level of confidence in Bitcoin’s potential as a long-term investment.

Risks: MicroStrategy’s significant investment in Bitcoin means that the company’s stock price is highly correlated with the price of Bitcoin. Any significant price fluctuations in Bitcoin can have a significant impact on MicroStrategy’s stock price.

2. Square (SQ): Square is a payment technology company that has invested heavily in the crypto market. In 2020, the company announced that it had purchased $50 million worth of Bitcoin. Square’s Cash App also allows users to buy and sell Bitcoin directly.

Benefits: Square’s investment in Bitcoin and its support of cryptocurrency transactions through its Cash App means that the company is well-positioned to benefit from the growth of the crypto market. The company’s diversified business model also means that investors are not solely reliant on its crypto-related ventures for returns.

Risks: Square’s exposure to the crypto market means that any significant price fluctuations in Bitcoin or other cryptocurrencies can have an impact on the company’s stock price.

3. PayPal (PYPL): PayPal is a digital payments company that has been expanding its support for cryptocurrency transactions. In 2020, the company announced that it would allow its users to buy, hold, and sell cryptocurrencies through its platform.

Benefits: PayPal’s entry into the cryptocurrency market has been seen as a positive development for the industry, as it brings greater mainstream adoption to cryptocurrencies. The company’s diversified business model means that investors are not solely reliant on its crypto-related ventures for returns.

Risks: Like Square, PayPal’s exposure to the crypto market means that any significant price fluctuations in Bitcoin or other cryptocurrencies can have an impact on the company’s stock price.

4. Nvidia (NVDA): Nvidia is a technology company that produces graphics processing units (GPUs) used in cryptocurrency mining. As demand for cryptocurrency mining has increased, so has demand for Nvidia’s GPUs.

Benefits: Nvidia’s GPUs are used in a variety of industries, which means that the company is not solely reliant on its crypto-related ventures for returns. However, the company’s exposure to the cryptocurrency market means that it is well-positioned to benefit from the growth of the industry.

Risks: Nvidia’s exposure to the crypto market means that any significant price fluctuations in Bitcoin or other cryptocurrencies can have an impact on the company’s stock price. The company’s reliance on cryptocurrency mining also means that any regulatory changes that impact the industry can have a significant impact on Nvidia’s business.

5. Riot Blockchain (RIOT): Riot Blockchain is a company that specializes in Bitcoin mining. The company’s focus on Bitcoin mining means that it is well-positioned to benefit from the growth of the Bitcoin market.

Benefits: Riot Blockchain’s focus on Bitcoin mining means that the company is well-positioned to benefit from the growth of the Bitcoin market. Additionally, the company’s diversified business model, which includes investments in other cryptocurrencies, means that investors are not solely reliant on its Bitcoin-related ventures for returns.

Risks: Riot Blockchain’s exposure to the crypto market means that any significant price fluctuations in Bitcoin or other cryptocurrencies can have an impact on the company’s stock price. The company’s reliance on Bitcoin mining also means that any regulatory changes that impact the industry can have a significant impact on Riot Blockchain’s business.

6. Tesla (TSLA): Tesla is an electric vehicle manufacturer that made headlines in 2021 for its large investment in Bitcoin. The company purchased $1.5 billion worth of the cryptocurrency and announced that it would accept Bitcoin as payment for its vehicles.

Benefits: Tesla’s large investments in Bitcoin mean that the company is well-positioned to benefit from the growth of the cryptocurrency. Additionally, the company’s focus on sustainable energy and electric vehicles provides investors with exposure to a high-growth industry.

Risks: Tesla’s exposure to the crypto market means that any significant price fluctuations in Bitcoin or other cryptocurrencies can have an impact on the company’s stock price. Additionally, the company’s success is heavily reliant on the continued growth and adoption of cryptocurrencies, which may be subject to regulatory or market risks.

7. Grayscale Bitcoin Trust (GBTC): Grayscale Bitcoin Trust is an investment trust that holds Bitcoin. Investors can buy shares in the trust, giving them exposure to the cryptocurrency without having to buy it directly.

Benefits: Investing in Grayscale Bitcoin Trust allows investors to gain exposure to the growth of Bitcoin without having to buy the cryptocurrency directly. Additionally, the trust’s holdings in Bitcoin mean that it is well-positioned to benefit from the growth of the cryptocurrency.

Risks: Grayscale Bitcoin Trust’s exposure to the crypto market means that any significant price fluctuations in Bitcoin or other cryptocurrencies can have an impact on the trust’s share price. Additionally, the trust’s structure and fees may not be suitable for all investors.

8. Marathon Digital Holdings (MARA): Marathon Digital Holdings is a company that specializes in Bitcoin mining. The company’s focus on Bitcoin mining means that it is well-positioned to benefit from the growth of the Bitcoin market.

Benefits: Marathon Digital Holdings’ focus on Bitcoin mining means that the company is well-positioned to benefit from the growth of the Bitcoin market. Additionally, the company’s diversified business model, which includes investments in other cryptocurrencies, means that investors are not solely reliant on its Bitcoin-related ventures for returns.

Risks: Marathon Digital Holdings’ exposure to the crypto market means that any significant price fluctuations in Bitcoin or other cryptocurrencies can have an impact on the company’s stock price. The company’s reliance on Bitcoin mining also means that any regulatory changes that impact the industry can have a significant impact on Marathon Digital Holdings’ business.

9. Coinbase (COIN): Coinbase is a cryptocurrency exchange that allows users to buy, sell, and store cryptocurrencies. The company went public in 2021, giving investors the opportunity to invest in the growth of the cryptocurrency market through a publicly traded company.

Benefits: Investing in Coinbase allows investors to gain exposure to the growth of the cryptocurrency market through a publicly traded company. Additionally, Coinbase’s diversified business model, which includes providing cryptocurrency-related services to institutional clients, means that investors are not solely reliant on its retail crypto-related ventures for returns.

Risks: Coinbase’s exposure to the crypto market means that any significant price fluctuations in Bitcoin or other cryptocurrencies can have an impact on the company’s stock price. Additionally, the company’s success in the crypto market is heavily reliant on the continued growth and adoption of cryptocurrencies, which may be subject to regulatory or market risks.

10. Galaxy Digital Holdings (GLXY): Galaxy Digital Holdings is a cryptocurrency-focused investment firm that provides a range of services, including trading, asset management, and advisory services.

Benefits: Galaxy Digital Holdings’ focus on the cryptocurrency market means that the company is well-position to benefit from the growth of the market. Additionally, the company’s diversified business model, which includes investments in various cryptocurrencies and services, means that investors are not solely reliant on any one aspect of its business for returns.

Risks: Galaxy Digital Holdings’ exposure to the cryptocurrency market means that any significant price fluctuations in Bitcoin or other cryptocurrencies can have an impact on the company’s stock price. Additionally, the company’s success is heavily reliant on the continued growth and adoption of cryptocurrencies, which may be subject to regulatory or market risks.

11. Visa (V): Visa is a global payments technology company that provides payment solutions to merchants and consumers. The company has recently made moves to offer cryptocurrency services to its users, allowing them to buy and sell cryptocurrencies using their Visa debit or credit cards.

Benefits: Visa’s foray into the crypto market means that the company is well-positioned to benefit from the growth of the cryptocurrency market. Additionally, the company’s diversified business model, which includes payment solutions and transaction processing services, means that investors are not solely reliant on its crypto-related ventures for returns.

Risks: Visa’s exposure to the crypto market means that any significant price fluctuations in Bitcoin or other cryptocurrencies can have an impact on the company’s stock price. Additionally, the company’s success in the crypto market is heavily reliant on the continued growth and adoption of cryptocurrencies, which may be subject to regulatory or market risks.

12. Advanced Micro Devices, Inc. (AMD) is a stock that investors can consider to gain exposure to the cryptocurrency market without buying crypto directly. While AMD is primarily known for its computer processors and graphics cards, the company has also benefited from the growth of the cryptocurrency market.

One of the key reasons why AMD is considered a crypto stock is that the company’s graphics processing units (GPUs) are used for cryptocurrency mining. Cryptocurrency mining involves solving complex mathematical equations to validate transactions and create new units of cryptocurrency. This process requires significant computing power, which is where AMD’s GPUs come in.

In addition to its exposure to the crypto market through its GPUs, AMD has also invested in blockchain technology. The company has partnered with several blockchain startups to develop new applications for the technology, which could provide additional revenue streams in the future.

While AMD’s exposure to the crypto market is not as direct as some of the other stocks on this list, the company’s GPUs are an important component in the cryptocurrency mining process, which means that any significant growth in the cryptocurrency market could benefit AMD. However, it’s important to note that the success of AMD’s crypto-related ventures is also subject to regulatory and market risks, which could impact the company’s stock price. As with any investment, it’s important to conduct thorough research and consider your risk tolerance before investing in AMD or any other stock.

13. Overstock.com, Inc. (OSTK) is a stock that investors can consider to gain exposure to the cryptocurrency market without buying crypto directly. Overstock is an e-commerce company that has been at the forefront of the adoption of cryptocurrency as a payment method.

One of the key reasons why Overstock is considered a crypto stock is that the company was one of the first major retailers to accept Bitcoin as a form of payment. Overstock also launched its own cryptocurrency, tZERO, which is used for trading security tokens. In addition to its exposure to the cryptocurrency market, Overstock has also invested in blockchain technology and is developing its own blockchain-based products.

In recent years, Overstock has struggled financially, with losses reported in 2019 and 2020. However, the company has taken steps to improve its financial position and has seen some success in its e-commerce business.

Benefits:

Exposure to the growing cryptocurrency market: Overstock’s early adoption of Bitcoin as a payment method and its investments in blockchain technology make it an attractive investment option for those looking to gain exposure to the cryptocurrency market.

Diversification: Adding Overstock to your portfolio could provide diversification benefits, particularly if you’re already invested in other e-commerce or retail stocks.

Innovativeness: Overstock’s investments in blockchain technology and its development of its own cryptocurrency demonstrate the company’s innovativeness and willingness to adapt to new technologies.

Risks:

Financial struggles: Overstock has reported losses in recent years, and its financial struggles could impact the company’s stock price.

Competition: Overstock faces strong competition in the e-commerce and retail industries, which could impact the company’s market share and financial performance.

Regulatory risks: As with other crypto-related investments, Overstock’s exposure to the cryptocurrency market is subject to regulatory risks, which could impact the company’s operations and financial performance.

Dependence on cryptocurrency adoption: Overstock’s exposure to the cryptocurrency market is largely dependent on the adoption of cryptocurrencies as a form of payment. If cryptocurrencies fail to gain widespread adoption, Overstock’s exposure to the market could become less significant.

14. HIVE Blockchain Technologies Ltd. (HVBT) is a Canadian cryptocurrency mining company that was founded in 2017. The company mines various cryptocurrencies, including Bitcoin, Ethereum, and Bitcoin Cash, using renewable energy sources.

HIVE has mining facilities located in Canada, Sweden, and Iceland, which have access to low-cost electricity and cool temperatures that are beneficial for mining operations. The company also has a stake in a company that owns a Bitcoin mining facility in Kazakhstan.

HIVE went public in 2017 through a reverse takeover of a publicly traded shell company, and its shares are listed on the Toronto Stock Exchange (TSX) and NASDAQ under the ticker symbol HVBT.

Investing in HIVE Blockchain Technologies Ltd. could provide investors with exposure to the growing cryptocurrency market without having to buy crypto directly. However, like any investment, it’s important to consider the potential benefits and risks before investing. Investors should be aware of the volatility and regulatory risks associated with the cryptocurrency market, as well as the potential for competition within the mining industry. It’s also important to conduct thorough research and consider your risk tolerance before investing in any stock.

15. Bit Digital, Inc. (BTBT) is a Bitcoin mining company that operates data centers that mine Bitcoin. The company was founded in 2015 and is headquartered in New York City.

As of September 2021, Bit Digital operates over 40,000 Bitcoin mining machines across multiple data centers. The company uses renewable energy sources to power its mining operations, which has been a focus for the company in recent years.

Bit Digital went public in 2019 through a reverse merger with a publicly traded company, and its shares are traded on the NASDAQ exchange under the ticker symbol BTBT.

As with any investment, it’s important to weigh the potential benefits and risks before investing in Bit Digital or any other stock. Investing in stocks always carries risk, and investors should be prepared to lose money as well as make gains. It’s important to conduct thorough research and consider your risk tolerance before investing in any stock.

Comparing the Benefits and Risks of Investing in Crypto Stocks vs. Buying Crypto

While investing in crypto stocks may provide investors with exposure to the growth of the cryptocurrency market without having to buy crypto directly, there are benefits and risks to both approaches. Here’s a comparison of the two approaches:

Benefits of Investing in Crypto Stocks:

Exposure to the growth of the cryptocurrency market without having to buy crypto directly

Diversified business models that can provide returns even if the crypto-related ventures of the company do not perform well

Access to publicly traded companies that are subject to regulatory scrutiny and are required to disclose financial information

Benefits of Buying Crypto:

Direct ownership of the cryptocurrency, allowing for more control over the investment

Potential for higher returns if the price of the cryptocurrency increases significantly

Ability to use cryptocurrency for transactions and payments

Risks of Investing in Crypto Stocks:

Exposure to the cryptocurrency market, which is subject to regulatory and market risks

Reliance on the success of the company’s crypto-related ventures for returns

Any significant price fluctuations in the cryptocurrency market can have an impact on the stock price

Risks of Buying Crypto:

High volatility and price fluctuations in the cryptocurrency market

Lack of regulation and oversight, which can lead to fraud and other risks

Potential for loss of the investment if the cryptocurrency price declines significantly

Conclusion

Investing in crypto stocks can provide investors with exposure to the growth of the cryptocurrency market without having to buy crypto directly. However, it’s important to weigh the benefits and risks of both approaches before making an investment decision. While investing in crypto stocks can provide diversification and access to publicly traded companies, it’s important to remember that the crypto market is subject to regulatory and market risks that can impact the stock price. Ultimately, the decision to invest in crypto stocks or buy crypto directly should be based on an investor’s individual risk tolerance, investment goals, and overall portfolio strategy.

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