The global blockchain technology market is expected to witness significant growth in the coming years. According to Fortune Business Insights, the global blockchain technology market was worth $17.5 billion in 2023, and is expected to witness a compound annual growth rate (CAGR) of 59.9% between 2023 and 2030. This growth is expected to take the market to a valuation of $469.49 billion by the end of the forecast period.
The increasing adoption of blockchain technology in the financial and retail sectors is one of the main drivers behind this growth trajectory, as well as the growing acceptance of cryptocurrencies around the world. Additional spin-offs such as Blockchain as a Service (BaaS) services are boosting this sector. BaaS services allow small and medium-sized enterprises (SMEs) to explore blockchain applications without the complexity of internal development.
Cryptocurrencies have played a pivotal role in trends in the blockchain industry, stimulating the development of blockchain infrastructure and promoting innovation in privacy and scalability. Diverse blockchain applications are emerging on the market, including supply chain management, trade finance, cross-border payments, lineage/provenance, and identity management.
Blockchain technology enables the existence of cryptocurrency, among other things. Like a digital ledger, it records and confirms cryptocurrency trades. Behind the most popular cryptocurrency, Bitcoin, there is a blockchain called the Bitcoin blockchain. Bitcoin has regularly set new records after elections. Other cryptocurrencies such as Dogecoin, the favorite currency of staunch Trump supporter Elon Musk, also made gains, according to the BBC.
According to analysts, much of these recent gains are due to the expected cryptocurrency-friendly nature of the incoming Trump administration, which may translate into more regulatory clarity but also some leeway. This may include a potential national strategic reserve of Bitcoin, and supportive regulations for the industry.
On November 11, Mackenzie Sigalos appeared on CNBC’s “Squawk Box” to talk about Bitcoin’s post-election rally. She said that most Bitcoin miners are seeing double-digit percentage gains, which paints a positive picture for Bitcoin and blockchain stocks. The broader cryptocurrency market is also seeing significant gains.
Sigalos recalled that Donald Trump promised to mine all future Bitcoins in the United States, and pledged to quickly build the country’s energy production and transmission infrastructure, which she claims is a great thing for energy-hungry miners. This is one of several commitments the president made to the cryptocurrency industry during his election campaign, along with firing SEC Chairman Gary Gensler and launching a national cryptocurrency stockpile. Overall, the management is expected to be crypto-friendly, painting a positive picture for investors.
Our methodology
We’ve scoured online rankings and ETFs to list the best cryptocurrency and blockchain stocks. We then selected 8 stocks with the highest upside potential that were also the most popular among elite hedge funds. Stocks are ranked in ascending order by their analysts’ upside potential as of November 23, 2024. We also include the number of hedge fund holders for each company as of Q3 FY2024, sourced from the Insider Monkey database.
Why are we interested in stocks that hedge funds accumulate? The reason is simple: Our research has shown that we can beat the market by imitating the best stock picks from the best hedge funds. Our quarterly newsletter strategy selects 14 small- and large-cap stocks each quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (See more details here).
Financial Performance and Future Prospects of HIVE Blockchain Technologies (HIVE)
A close-up of the handwritten code to facilitate the exchange of Ethereum and Ethereum Classic.
Uptrend Analyst: 83.82%
Number of hedge fund owners: 7
HIVE Blockchain Technologies Ltd (NASDAQ:HIVE) is a North American cryptocurrency mining company that claims to be the first publicly listed blockchain infrastructure company. It has operations in Canada, Sweden and Iceland. HIVE Blockchain Technologies Ltd. provides (NASDAQ:HIVE) offers investors the opportunity to learn about the high growth potential of the blockchain industry, giving them the opportunity to leverage the potential of innovative blockchain solutions.
With Bitcoin rising to record highs after Trump’s win, the company is seeing a very positive outlook as it is not only mining Bitcoin using green energy, but is also holding as much Bitcoin as possible. It ended the fiscal second quarter of 2025 with total revenues of $22.6 million, of which $20.8 million came from the company’s Bitcoin mining business unit. Additionally, $1.9 million came from the HPC business unit, where AI computing runs on its fleet of NVIDIA GPUs.
HIVE Blockchain Technologies Ltd. has completed… (NASDAQ:HIVE) completed Q2 fiscal 2025 with over 2,600 BTC mined clean and green energy on its balance sheet. It pioneers the use of green energy for Bitcoin mining, leading the sector with best-in-class efficiency and uptime. The company reached 5.6 exahash in October, and plans to expand to 12.5 exahash by summer 2025.
These plans are in place with the company’s disciplined capital allocation strategy. It has a competitive advantage in the market due to its efficiency and clear objectives, and strives for the best return on investment, the best performance, and the lowest operation. It ranks third on our list of the top 8 crypto and blockchain stocks to buy according to analysts.
Overall, a beehive Third place On our list of the best cryptocurrency and blockchain stocks to buy according to analysts. While we recognize the potential of blockchain stocks, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so in a shorter time frame. If you’re looking for an AI stock that’s more promising than HIVE but is trading at less than 5 times its earnings, check out our report on Cheapest artificial intelligence stocks.
