Rising Profitability and Upside Catalysts Bode Well for this Digital Leader

Digital assets posted strong returns last year, and are on track for an even stronger return this year. That will likely be driven in part by the new bitcoin ETFs, as well as the upcoming halving of bitcoin.

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  • As bitcoin moves higher, other digital assets should also rise in value. And companies that play to that trend should benefit. For now, the best returns are likely to come from industry leaders.

     As the custodian for a majority of the new bitcoin ETFs, the clear leader is Coinbase Global (COIN). The company reported its first profit in two years last week.

    Plus, revenues beat forecasts as well, up 49 percent over the past year. That’s a sign that the company will continue to benefit as capital flows into cryptocurrencies, either directly or through ETFs. And that shares will continue to build on their recent gains.

    Action to take: Investors may want to build a partial stake here. While shares are already up 190 percent over the past year, further upside catalysts for the crypto market could take earnings and revenues significantly higher in the next few quarters.

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  • For traders, the June $200 calls, last going for about $26.90, could see mid-double-digit returns or better in the coming months on a further uptrend in shares.


    Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any company mentioned in this article.