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The cryptocurrency rally got a further boost as Bitcoin price surpassed $109,000 for an all-time high.
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Experts say the cryptocurrency may be on track to hit $125,000 soon from Trump’s pro-crypto stance.
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Robinhood Markets, NVIDIA, Coinbase Global and Interactive Brokers Group look to gain from Bitcoin highs.
The cryptocurrency rally got a further boost on Monday, hours ahead of Donald Trump’s inauguration, with Bitcoin (BTC) price surpassing $109,000 to hit an all-time high. Bitcoin’s price has since retreated more than 5% and hovered around $102,000 on Monday night.
However, the decline can be overlooked as Bitcoin has been on a rally over the past few months and experts believe the cryptocurrency is on track to hit $125,000 in the near term from Trump’s pro-crypto stance.
Given the positive sentiment, investing in Bitcoin-centric stocks like Robinhood Markets, Inc. HOOD, NVIDIA Corporation NVDA, Coinbase Global, Inc. COIN and Interactive Brokers Group, Inc. IBKR would be a smart decision. These stocks have strong growth potential for 2025. Each of these stocks has seen positive earnings estimate revision in the past 60 days.
Bitcoin had a stellar 2024, soaring more than 100%. The rally gathered steam after Trump’s victory in the U.S. Presidential election on Nov. 5. Since then, Bitcoin has shot up every time Trump has hinted at creating a crypto-friendly environment.
This saw Bitcoin hitting a high of $106,533 on Dec. 22. In his campaign, Trump vowed to turn the United States into the “crypto capital of the world,” outlining plans to create a strategic Bitcoin reserve and hire regulators who back digital assets. Following the victory, he appointed a number of crypto-friendly people to important cabinet and regulatory roles.
Experts believe that deregulating crypto will boost Bitcoin, making 2025 another landmark year. Monday’s surge to a fresh all-time high came as Trump was sworn in as the 47th U.S. President. Investors believe that Trump’s return to the Oval Office marks the beginning of a crypto-friendly environment, and they will also get regulatory clarity under his regime.
Besides, Bitcoin has hit new all-time highs every four years in its last two bullish cycles since 2017. During these cycles, the cryptocurrency gained 2300% and 1700%, followed by corrections between 70% and 80%. From its low of $16,000 in early 2023, Bitcoin has surged more than 600%, suggesting robust growth potential in the next two years.
Robinhood Markets, Inc. operates a financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds, options, gold and cryptocurrencies. HOOD buys and sells Bitcoin, Ethereum, Dogecoin and other cryptocurrencies using its Robinhood Crypto platform.
Robinhood Markets’ expected earnings growth rate for the current year is more than 100%.The Zacks Consensus Estimate for current-year earnings has improved 23% over the last 60 days. Robinhood Markets currently has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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NVIDIA Corporation is a major player in the semiconductor industry and has been one of the standout success stories of 2023. As a leading designer of graphic processing units (GPUs), the value of the NVDA stock tends to surge in a thriving crypto market. This is primarily due to the crucial role that GPUs play in data centers, artificial intelligence and the mining or production of cryptocurrencies.
NVIDIA’s expected earnings growth rate for the current year is more than 100%. The Zacks Consensus Estimate for current-year earnings has improved 3.5% over the past 60 days. Currently, NVIDIA has a Zacks Rank #2 (Buy).
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Coinbase Global, Inc. offers financial infrastructure and technology to support the global cryptocurrency economy. It provides a main financial account for consumers in the crypto space, a marketplace with liquidity for institutional crypto asset transactions, and technology and services for developers to build crypto-based applications and accept cryptocurrencies securely as payment.
Coinbase Global’s expected earnings growth rate for the current year is more than 100%. The Zacks Consensus Estimate for current-year earnings has improved 11.4% over the past 60 days. COIN currently carries a Zacks Rank #1.
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Interactive Brokers Group, Inc. is a global automated electronic broker. IBKR executes, processes and trades in cryptocurrencies. IBKR’s commodities futures trading desk also offers customers a chance to trade cryptocurrency futures.
Interactive Brokers Group has an expected earnings growth rate of 21.6% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 1.7% over the last 60 days. IBKR currently has a Zacks Rank #2.
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