Bitcoin (BTC) Poised to Surpass $100K: 4 Bitcoin Stocks to Buy

Bitcoin surges to another all-time high, Bitcoin stocks can provide exposure to the asset without the headaches of owning it directly.

Bitcoin Rallies Post-Election, Approaching $100,000

Following the post-election rally, Bitcoin (BTC) reached an all-time high of $99,027 on November 22. Although it has slightly retreated since then, it remains above $95,500 and is poised to reach a new milestone.

The Bitcoin surge that began in 2023 faced a setback in the second quarter but rebounded in September after the Federal Reserve announced its first interest rate cut. The current rally has been driven by optimism surrounding Donald Trump's victory in the U.S. presidential election, pushing Bitcoin beyond expectations and closer to the $100,000 mark.

In light of this positive sentiment, investing in Bitcoin-related stocks such as Coinbase Global, Inc. (COIN), BlackRock, Inc. (BLK), Accenture plc (ACN), and NVIDIA Corporation (NVDA) could be a wise decision.

Bitcoin Recovers After Recent Dip

Bitcoin experienced a pullback from its previous highs in recent sessions as the post-election rally lost momentum last week. The cryptocurrency dipped to an intraday low of $90,770 on Wednesday, prompting investors to reassess the anticipated regulatory changes under Trump's administration, set to begin in January 2025.

Despite this, positive developments in the regulatory landscape and a renewed sense of market optimism have led to a rebound for Bitcoin over the past 24 hours, with the cryptocurrency gaining 2.6%.

During his campaign, Trump pledged to position the United States as the "crypto capital of the planet," proposing the establishment of a strategic Bitcoin reserve and the appointment of regulators who support digital assets. His favorable stance on cryptocurrency, coupled with reports that his team may consider former CFTC Chair Chris Giancarlo for a "Crypto Czar" role, has further fueled optimism in the market.

4 Bitcoin Stocks with Growth Potential

1. BlackRock
As one of the largest investment management firms globally, BlackRock was an early entrant into the Bitcoin ETF arena, joining the race in June 2023. The company is projected to achieve a 14.3% earnings growth rate this year, with the Zacks Consensus Estimate for current-year earnings rising by 4.4% over the past 60 days. BlackRock currently holds a Zacks Rank of #1.

2. Coinbase Global
Coinbase Global, Inc. provides essential financial infrastructure and technology to support the cryptocurrency economy. It offers a primary financial account for consumers, a marketplace facilitating institutional crypto transactions, and services for developers to create crypto-based applications and securely accept cryptocurrency payments. Coinbase is expected to see over 100% earnings growth this year, with a 3.7% improvement in the Zacks Consensus Estimate for current-year earnings in the last two months. The company currently has a Zacks Rank of #2.

3. Accenture plc
Accenture plc is a global system integrator that provides consulting, technology, and a range of other services. The company promotes Ethereum-based blockchain solutions to help businesses streamline payment processing. Accenture's expected earnings growth rate for the current year is 6.9%, with the Zacks Consensus Estimate for earnings improving by 0.3% over the past 60 days. Accenture also carries a Zacks Rank of #2.

4. NVIDIA Corporation
NVIDIA Corporation is a leader in the semiconductor industry and has emerged as a notable success story in 2023. As a top designer of graphic processing units (GPUs), NVIDIA's stock tends to rise in a strong crypto market, primarily due to the importance of GPUs in data centers, artificial intelligence, and cryptocurrency mining. The company anticipates earnings growth of over 100% this year, with the Zacks Consensus Estimate for current-year earnings increasing by 4.3% in the last two months. NVIDIA currently holds a Zacks Rank of #2.

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