Crypto

20 Best Cryptocurrency Stocks to Buy According to Hedge Funds

Published

2 years ago

September 7, 2024

20 Best Cryptocurrency Stocks to Buy According to Hedge Funds

In this article, we will take a look at the recent news from the crypto industry while discussing the 20 cryptocurrency stocks to buy according to hedge funds.

A Review of the Crypto World: Latest Updates

Crypto has emerged as a major political issue in the US with the campaigns for election going on. Head of Firmwide research Galaxy Digital Alex Thorn called August a rough and seasonally bad week for Bitcoin. He mentioned how eight out of the eleven prior Augusts witnessed the major coin trading down. However, political events have also played a role in the crypto landscape.

In Thorn’s opinion, most people view Trump’s victory as bullish for the crypto market. Trump who is now running for President brought the hopes of the crypto world higher by promising to deliver a plan to make the United States the ‘crypto capital of the planet’. Crypto became an even hotter topic as Kamala Haris simultaneously supported policies for the expansion of the industry. In the opinion of Thorn, most people view Trump’s victory as bullish for the crypto market. He predicts crypto will run quite higher if Trump ends up winning the election based on an anticipated easing of the regulations. On the other hand, he expects the victory of Harris to be more neutral even for the industry since those advising her belong to the Biden administration on crypto policy.

Looking forward to September which is a seasonally weak month for crypto too, the next months including October, November, and December are crypto’s most bullish months based on the seasonality factor. Regardless of the highly awaited Fed interest rate cuts just ahead of us, the crypto market investors still remain concerned as JPMorgan’s Head of Global and European Equity Strategy dismissed the potential of a crypto bull market. While September has been a historically worst month for US stocks, the upcoming rate cut might be an outlier in history.

In an interview with CNBC, Anthony Pompliano, Professional Capital Management CEO, talked about the recent price moves in Bitcoin. The German government offloading Bitcoin through as many exchanges and the Bitcoin exchange Mt. Gox unloading coins onto the market are two important events defining this supply. Pompliano refers to Bitcoin as really illiquid with many Bitcoin holders having a long-term view of it. At the start of 2024, the Bitcoin amount that had not moved in more than a year was over 70%. Some of it started to get distributed as prices rose, as expected in a bull market. Although Pompliano expects this percentage to drop to 50% to 55% but still at least half of the Bitcoin would still be in the hands of people who have an over 10-year time horizon. Thus, the question revolves around whether these hands are strong enough to outlast the aforementioned two events. Pompliano finally states time as the only catalyst for Bitcoin rather than a pro-crypto candidate in the upcoming US elections. While the summer season is a bit slow, prices typically go back up in September and beyond.

With that, let’s look at the 20 best cryptocurrency stocks to buy now.

Our Methodology:

In order to compile a list of the 20 best cryptocurrency stocks to buy according to hedge funds, we sifted through ETFs and online rankings to compile a preliminary list of 40 companies involved in the crypto space. Moving on, we shortlisted the top 20 stocks from our list which had the highest number of hedge fund holders. The 20 best cryptocurrency stocks to buy according to hedge funds have been arranged in ascending order of the number of hedge fund holders they have, as of Q2 2024.

At Insider Monkey we are obsessed with the stocks that hedge funds pile into. The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).

20 Best Cryptocurrency Stocks to Buy According to Hedge Funds

20. Hut 8 Mining Corp (NASDAQ:HUT)

Number of Hedge Fund Holders: 13

Hut 8 Mining Corp (NASDAQ:HUT) is a Bitcoin mining company headquartered in Miami, Florida. The company has self-mining, hosting, managed services, and traditional data center operations across North America. It has a portfolio comprising 20 sites including 10 Bitcoin mining, hosting, and managed services sites in Alberta, New York, and Texas, 4 power generation assets in Ontario, 5 high-performance computing data centers in British Columbia and Ontario, and one newly announced site in the Texas Panhandle.

Hut 8 Mining Corp (NASDAQ:HUT) serves as one of North America’s largest Bitcoin miners and a leading vertically integrated operator of large-scale energy infrastructure. Its unique business model revolves around profitable digital asset mining, high-performance computing, and yield programs that complement its self-mined Bitcoin reserves’ value. The firm has years of experience mining digital assets with the most efficient mining servers which makes its operations one of the strongest in the mining industry. It has a proven track record of successfully navigating bull and bear Bitcoin market cycles. Despite the network halving during the second quarter, the firm’s gross margins in the Digital Assets Mining segment increased to 46% year-over-year.

An expanding footprint is core to the firm’s differentiated energy strategy. While the firm announced a new site in the Texas Panhandle, it is discussing a large-scale commercial partnership for the site which can power up to 205 megawatts of NVIDIA Blackwell GPUs. Emphasizing this business strategy, here is what the CEO Asher Genoot said during the Q1 2024 results conference call:

“We believe our strategy will position us for market leadership—first in Bitcoin mining then in the broader energy infrastructure sector. And with our commitment to disciplined capital allocation, focus on non-dilutive sources of funding, and exceptional team and board, we are more confident than ever that we are building a business that endures for generations and delivers lasting shareholder value.”

The firm’s strategy of building a portfolio that drives long-term market leadership, diversified business lines, and a strong and liquid balance sheet makes it attractive. As of Q2 2024, Hut 8 Mining Corp (NASDAQ:HUT) was held by 13 hedge funds thereby ranking among the 20 best cryptocurrency stocks to buy according to hedge funds.

19. Cipher Mining Inc. (NASDAQ:CIFR)

Number of Hedge Fund Holders: 15

Cipher Mining Inc. (NASDAQ:CIFR) is an industrial-scale Bitcoin mining company that dedicates itself to expanding and strengthening the Bitcoin network’s critical infrastructure in the United States. Cipher focuses on the development and operation of bitcoin mining data centers in the country. The US-based Bitcoin mining company was incorporated in 2020 and aims to be the market leader in Bitcoin mining growth and innovation.

Cipher is in an attractive industry position to maximize opportunities in both Bitcoin mining and HPC infrastructure. It is currently developing HPC infrastructure to be complementary to its Bitcoin mining business. The firm strategically expanded into the High-Performance Computing (HPC) business and has the potential to become a market-leading HPC infrastructure provider by securing 4 new North American sites with up to 1.7 GW of capacity while all sites have adequate access to consistent power, land, and fiber necessary to accommodate HPC. With experienced industry experts from Google, Vantage, and Meta on the team and significant early interest from a broad set of potential investors and financiers, Cipher is poised to grow.

As indicated by the CEO of Cipher, the firm currently operates at 8.7 exahashes per second of self-mining hashrate and is on target to achieve 13.5 exahashes per second by the year’s end and 35.0 exahashes per second by 2025’s end, almost 4 times than the current. Amidst ambitious plans for expansion and consistent growth in Bitcoin mining capacity and efficiency, Cipher Mining Inc. (NASDAQ:CIFR) is aiming for the right balance between the two business lines. The stock was held by 15 hedge funds at the close of Q2 2024 and is one of the best cryptocurrency stocks to buy according to hedge funds.

18. Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Number of Hedge Fund Holders: 16

Marathon Digital Holdings, Inc. (NASDAQ:MARA) operates as a global leader in digital asset compute. The company mines digital assets with a focus on the Bitcoin ecosystem in the United States. Marathon leverages digital asset compute to support the energy transformation by the conversion of clean, stranded, or underutilized energy into economic value.

Marathon is one of the largest and most liquid miners which continues to efficiently scale and expand its operations thereby setting the pace for the Bitcoin mining industry. The firm has a diversified portfolio of Bitcoin mining operations. All of this has translated into strong financial results. From Q4 2022 to Q4 2023, the company witnessed its hashrate, BTC production, efficiency, and market share rise. For the second quarter of 2024, the BTC production fell as a result of the increased global hash rate, the April halving event, and unexpected third-party equipment failures and transmission line maintenance. However, the company recorded its energized hash rate increasing 78% to 31.5 exahashes per second, up from 17.7 exahashes per second in Q2 2023. Revenue increased by 78% year-over-year.

To better align its internal structure with the pursuit of growth opportunities, the company was organized into three strategic business teams including Utility Scale Mining, Energy Harvesting, and Technology. It also diversified its portfolio of digital asset compute with the launch of Kaspa mining operations.

With an all-time high installed current hash rate of 31.5 exahashes per second, the strategic move towards a streamlined organization with three specialized business teams, Marathon Digital Holdings, Inc. (NASDAQ:MARA) qualifies as one of the best cryptocurrency stocks to buy which was held by 16 hedge funds and Citadel Investment Group was the top shareholder, as of Q2 2024.

17. Bitfarms Ltd. (NASDAQ:BITF)

Number of Hedge Fund Holders: 16

Bitfarms Ltd. (NASDAQ:BITF) is a global Bitcoin self-mining company which was founded in 2017. The company runs vertically integrated mining operations with onsite technical repair, proprietary data analytics, and company-owned electrical engineering and installation services. The Bitcoin miner has a diversified production platform comprising 8 industrial-scale facilities in Canada, 2 in the United States, 1 in Argentina, and 3 in Paraguay. The firm’s data centers are powered by more than 75% renewable power.

Currently, Bitfarms serves as the only publicly traded crypto mining company audited by a Big Four accounting firm. The firm manages one of the largest internationally diversified portfolios of energy contracts in the Bitcoin data center business. It recently added 220 MW of capacity in Paraguay and Pennsylvania while it energized its 70 MW site in Paso Pe, the company’s largest site to date. Simultaneously, it stepped into the most attractive energy market in the US through its new site in Sharon while unlocking new opportunities beyond Bitcoin mining, such as HPC/AI. For the second quarter, Bitfarms had a hashrate of 11.1 exahashes per second, up from 6.5 exahashes per second in the first quarter. This implies that Bitfarms is implementing a robust growth strategy with a focus on US expansion and diversification from Bitcoin mining.

At the end of August, Bitfarms Ltd. (NASDAQ:BITF) revealed its plans to acquire Stronghold Digital Mining, Inc., a vertically integrated crypto asset mining company. This transformative acquisition is anticipated to potentially raise Bitfarm’s energy portfolio to over 950 MW by the end of 2025. The transaction is expected to close in the first quarter of 2025.

Based on the aforementioned plans, the firm is well set to reach over 35 exahashes per second in 2025 which will be a 67% growth from 21 exahashes per second, the year-end target for 2024. With the appointment of Ben Gagnon as the Chief Executive Officer who has a prior 9-year full-time experience in the mining industry, Bitframs is positioned for accelerated growth through 2024. The firm’s impressive energy portfolio and strategic approach to growth rank it among some of the best crypto stocks to buy. As of Q2 2024, the stock was held by 16 hedge funds while Millennium Management was the most dominant shareholder.

Crypto

Residents question proposed crypto mining center

Published

6 hours ago

July 8, 2026

Press Room

Residents question proposed crypto mining center

STARKVILLE – Potentially higher utility bills and sound pollution topped the list of concerns raised by six residents who addressed the board of aldermen Tuesday about a cryptocurrency mining facility proposed for Industrial Park Road.

Vice Mayor Roy Perkins, who represents Ward 6, said he has fielded similar concerns from constituents following the board’s June 12 work session, during which members heard a presentation about the potential project.

Roy A. Perkins

“I know these things need to have full accountability, full transparency and different things,” Perkins said. “… Well you can rest assured the vice mayor is going to be on assignment. I’m going to do my part. I’m not going to do anything that’s going to negatively impact this community.”

The proposed facility would be a specialized type of data center designed to mine cryptocurrency, a digital currency that operates independently of government-backed financial systems. It is stored in digital wallets and fluctuates in value.

Mining facilities use specialized computers that draw large energy loads to secure the digital transactions that take place. The center proposed in Starkville would be much smaller than “hyperscale data centers” that store and process data for large tech companies.

Utility usage topped the concerns of most residents with Pam Jones, the first to speak, set the tone.

“I understand that this is on a smaller scale than the hyper-scale facilities, and I just wanted to be sure that we had ordinances in place that will count the noise, especially at night and that there will be water and power management,” Jones said.

Other residents took issue with what they see as a lack of transparency around the proposed project.

“I was quite disappointed to learn (the mining facility) was not an agenda item today,” said Eadie Keenan, a Ward 7 resident. “… Quite frankly, I have more questions than can fit in three minutes.”

Tiffany Womack, another Starkville resident, echoed Kennan’s concerns, adding utility usage and market volatility to her own list of issues.

“If (the center was) to go bankrupt or something like that, would that possibly fall back on the responsibility of Starkville citizens?” Womack asked.

Mayor Lynn Spruill did not answer each question individually, instead encouraging those with questions to watch the June 12 presentation. Due to the project’s early stage, she noted the board does not yet know answers to all the questions raised during Tuesday’s meeting.

“I brought (the center) to the board as an opportunity for us to begin that process of learning so we are nowhere near making a decision,” Spruill said. “Which is why it isn’t on the agenda and won’t be on the agenda for some time.”

Spruill said the proposed center is currently going through the staff vetting process. Once the process is complete, staff will make a recommendation to the board on whether to pursue the center. At that time, Spruill expects to be able to answer residents’ remaining questions.

Spruill said transparency is important to her and the board while going through the process of vetting the mining center.

“Nothing is being hidden. It’s all out there for everybody to see, and we’ll make decisions based on facts not on Facebook craziness,” Spruill said. “… We want facts, and we want all decisions to be made with facts. And so hopefully that will put some of your concerns (to rest), at least to the extent that this is nowhere near something that will be on the agenda.”

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Crypto

Jim Rickards Asked Robert Kiyosaki to Read One Manuscript, Then His View of Global Finance Changed

Published

16 hours ago

July 7, 2026

Press Room

Jim Rickards Asked Robert Kiyosaki to Read One Manuscript, Then His View of Global Finance Changed

Key Takeaways

Why Did One Manuscript Change Robert Kiyosaki’s View?

Robert Kiyosaki, the author of the best-selling personal finance book Rich Dad Poor Dad, said an advance manuscript of “The Entropy Trap” shared by Jim Rickards prompted him to rethink how he views global finance. Rickards is an economist, lawyer, and financial commentator known for writing about currencies, debt, and systemic market risk. Kiyosaki said the early reading changed his perspective on where the financial system may be headed.

The reaction was framed around a warning about financial change. The book, written by Mickey M. Maini, “blew my mind and opened my eyes to what & why global financial change is coming,” Kiyosaki described. His comments focused on what he described as a shift in the rules behind wealth, assets, and trust.

The central claim is that wealth could move away from people relying on traditional financial assumptions. Kiyosaki asserted:

“The informed will be tomorrow’s ULTRA RICH. Todays uniformed operating by the old rules of money… will become the new poor.”

The Warning Behind the Claim

The warning centers on assets that depend on trust, including U.S. bonds, exchange-traded funds (ETFs), and mutual funds. Kiyosaki framed those instruments as vulnerable under the financial shift he says is coming, placing commonly held investment products at the center of the risk.

That claim is severe, but he presented it as a warning rather than a proven outcome. He also pointed to large bondholders, including Japan, saying they have already started dumping U.S. bonds. He did not provide supporting data in the statement.

The acclaimed author shared:

“Message from book… ‘All assets that require trust, assets that most people have… such as U.S. bonds, ETFs, mutual funds will be flushed down toilets, all over the world.’”

The broader conflict is whether traditional financial assets remain reliable under the conditions Kiyosaki described. His framing divides investors between those preparing for a changed financial system and those still operating under assumptions he says may no longer hold.

What Still Needs to Be Proven

A planned August study session could clarify the warning Kiyosaki described. He said his study team would examine the message and that Rickards may join, though the evidence behind the claims has not yet been laid out.

For now, the warning rests on Kiyosaki’s account of a manuscript that changed his view. He urged readers to prepare, writing:

“I want you to be one of the world’s new rich.”

What remains unknown is whether market data, policy moves, or investor behavior will confirm the risk he described.

His recent commentary has focused on what he describes as fragility in the global monetary system, particularly around the U.S. dollar. He has pointed to rising debt, central bank policies, and inflation as risks that could trigger a sharp market downturn.

Alongside those concerns, he has repeatedly highlighted bitcoin, gold, and silver as alternative stores of value. In his view, those assets may help reduce exposure to traditional financial instruments during periods of currency weakness and market turbulence.

Crypto

Strategy Is No Longer Just Going to “Inoculate the Market,” Selling Crypto May Be Much More Common. Here’s What That Could Mean for the Stock | The Motley Fool

Published

1 day ago

July 7, 2026

Press Room

Strategy Is No Longer Just Going to “Inoculate the Market,” Selling Crypto May Be Much More Common. Here’s What That Could Mean for the Stock | The Motley Fool

When Strategy (MSTR 0.69%) sold a modest amount of Bitcoin earlier this year, it was a noteworthy development given that the company’s business has centered around buying up as much of the cryptocurrency as it can, and vowing to never sell. And it often boasts of being the largest corporate holder of the digital currency.

The company brushed off the sale of 32 Bitcoins, with management saying it simply wanted to “inoculate the market.” Well, now it appears that Strategy is doing much more than just that, and there could be more significant cryptocurrency sales in the future.

Image source: Getty Images.

Strategy unveils a Bitcoin monetization program

On June 29, Strategy released a framework going forward that it says will “enhance liquidity, preserve long-term Bitcoin exposure, and support long-term value creation for shareholders.” Among the notable components is its Bitcoin monetization program.

Within that program, the company says it may sell some of its cryptocurrency holdings for multiple reasons, including to fund a USD reserve, fund dividends or interest expense, or to fund repurchases of digital credit securities or common stock.

While the company says it remains committed to Bitcoin for the long term and it’s the company’s “primary treasury reserve asset,” it’s a significant change of course for Strategy, which was previously heavily against ever selling the digital asset.

Today’s Change

(-0.69%) $-0.69

Current Price

$100.08

Key Data Points

Market Cap

$35B

Day’s Range

$96.97 – $102.19

52wk Range

$81.81 – $457.22

Volume

248.6K

Avg Vol

21.3M

Gross Margin

68.11%

The stock is as risky and volatile as ever

Whether or not Strategy buys or sells Bitcoin doesn’t change the fact that this is a highly risky and speculative stock to own. While crypto fans may be disappointed in the company’s change in strategy, selling Bitcoin will likely not be enough to make the business any better or worse as an investment.

In just the past 12 months, the stock has plummeted a whopping 75% as volatility in digital assets has drastically weighed on its earnings, with the company incurring $12.8 billion in losses over the trailing 12 months, on revenue of $490 million.

That’s not likely to change significantly, even if Strategy offloads some of its crypto holdings, because with such a large exposure to Bitcoin, how the cryptocurrency performs will inevitably impact the company’s bottom line in a big way. This year, the leading cryptocurrency is down 28% as investor excitement around it has largely cooled off, which has proven disastrous for Strategy’s stock as well. And at this stage, there’s little reason to anticipate a recovery anytime soon.