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2 Blockchain Stocks Rated “Strong Buy” for July 2024
Blockchain Technology it is rapidly transforming industries far beyond cryptocurrenciesoffering unparalleled transparency, security and efficiency. This innovation has made blockchain actions—shares of companies that develop or integrate blockchain technology: very attractive to experienced investors.
Numerous companies are leveraging blockchain to improve their operations, provide cutting-edge services, or drive advancements in cryptocurrency sector. While some companies are fully dedicated to blockchain and cryptocurrency innovation, others are integrating blockchain to strengthen their existing and successful businesses.
Recognizing this dynamic potential, Finbold has identified two extraordinary projects actions with strong buy ratings, promising to add significant value to any investment portfolio through exposure to distributed ledger technologies
Mastercard Incorporated (NYSE: MA) Stock
Mastercard Incorporated (NYSE: BUT) his innovative approach to blockchain earned him a spot on Forbes’ 2023 Blockchain 50 list, highlighting his aggressive research into distributed ledger technology.
Mastercard has been actively involved in the exploration and adoption of blockchain technology through several key initiatives. The Mastercard Multi-Token Network (MTN), launched in 2023is a blockchain-based platform designed to make transactions within digital assets and blockchain ecosystems more secure, scalable and interoperable.
Additionally, Mastercard is actively involved in trials and discussions regarding central bank digital currencies (CBDC), offering expertise and guidance to governments exploring CBDC implementation, such as announced by the company.
THE agency also manages the Start Path Crypto program, which fosters innovation by supporting startups in the blockchain and digital asset space, helping them scale their businesses and prioritizing energy-efficient solutions that promote positive social impact.
Wall Street’s 12-month MA stock price target. Source: TipRanks
Mastercard has a market capitalization of $406.96 billion and has proven to be solid financial health, generating revenue of $25.7 billion in the last year and earnings of $11.85 per share.
The company offers a dividend of $2.64 per share with an impressive growth rate of 15.91% year over year, making it attractive to both growth and income-oriented investors.
Analyst sentiment is high, with a consensus price target of $524.50, representing an upside of 18.89% from the current price of $441.16. Mastercard’s strategic acquisitions, strong cash flow, and continued innovation position it well for sustained growth, making it an attractive buy.
Riot Blockchain, Inc. (NASDAQ: RIOT) stock.
Riot Blockchain (NASDAQ: RIOT) is a prominent player in the Bitcoin Mining industry, continuously expanding its capabilities to capitalize on the potential of blockchain technology. Riot recently signed an agreement for purchase 31,500 next-generation miners from MicroBT, increasing its auto-mining hash rate from 12.4 EH/s to 15.1 EH/s by the end of July.
Additionally, Riot’s Corsicana facility, now the largest Bitcoin mining site in the world with a developed capacity of 1 GW, further enhances its mining capacity as announced from the company.
Financially, Riot performed very well, posting revenue of $79.3 million, up from $73.2 million last year, and earning a net income of $211.8 million, or $0.82 per share, driven by a 131% increase in Bitcoin (BTC) prices.
Analysts are very bullish on Riot’s future, with an average price target of $18, indicating a substantial 96.94% upside from the current price of $9.14. Riot’s aggressive expansion and investment in advanced technology make it an attractive option for investors looking to capitalize on the growth of blockchain technology.
Mastercard and Riot Blockchain are at the forefront of blockchain innovation in their respective industries, making them attractive investment opportunities for July 2024. Mastercard’s integration of blockchain into financial services, combined with its strong financial performance and strategic initiatives, positions it as a trusted long-term investment provider.
Riot Blockchain’s expanding mining operations, solid financials, and significant growth potential underscore its value as a high-growth investment. These stocks are well-positioned to harness the transformative power of blockchain, offering investors opportunities for substantial returns.
However, investors they should remain cautious and conduct thorough research due to the volatility and inherent risks of stock markets
Disclaimer: The content of this site should not be considered investment advice. Investing is speculative. When you invest, your capital is at risk.