Dwight Dykstra – Invest in Stocks of Well-Known Cryptocurrency Markets

Dwight Dykstra

June 1, 2022

Dwight Dykstra

Dwight Dykstra believes that, if you want to buy cryptocurrency stocks, you’ve probably heard about Coinbase, MicroStrategy, Riot Blockchain, and other companies. Coinbase is a popular exchange that recently said it would double the amount of money it trades every day to $4 billion. But recent analyst layoffs have caused these earnings estimates to go down. Look at these other popular cryptocurrency stocks before you rush out to buy Coinbase stock.

Coinbase by Dwight Dykstra

Coinbase is a great place to start if you want to learn about the cryptocurrency stock market. It is great for people who don’t know much about computers because it is easy to use. It works a lot like an online brokerage and can be used on both mobile devices and the web. The main dashboard lets users see their portfolio and makes it easy to buy and sell currencies.

Dwight Dykstra pointed out that, it does, however, give people a chance to earn cryptocurrency through its Coinbase Earn program, which lets users get small amounts of new currency. Users can also choose to upgrade to Coinbase Pro, which has lower prices, more features, and lower fees. Coinbase isn’t the best choice for everyone, though. The company’s customer service is average, and there aren’t many altcoins to choose from.

MicroStrategy by Dwight Dykstra

If you want to get into the cryptocurrency markets, buying MicroStrategy stocks is a good way to do so. Over the past two years, the company has saved up a huge amount of Bitcoin. It had 129,218 BTC as of March 31. Its management team thinks that Bitcoin is a reliable way to store value and, as a result, a good investment asset. It has a higher return than most stocks and can even be used to protect against inflation.

At the end of trading on Tuesday, MicroStrategy (MSTR) stock went up by 19%. Bitcoin is up 3.2%, making it the largest publicly traded company that owns bitcoin in the world. Some investors are wondering if this means that the crypto market has finally reached its bottom. If that’s the case, investors might want to look elsewhere. After all, this company has a lot of debt and is tied to an asset that can go up or down quickly. This could cause its stock, which is currently worth less than its crypto holdings, to be worth more.

The CEO of MicroStrategy has been asking for US accounting standards to change for the last two years so that they reflect the value of crypto assets. The company counts its holdings of cryptocurrency as intangible assets. So, MicroStrategy has stayed a big deal in the world of cryptocurrency.

Blockchain Riot by Dwight Dykstra

Buying Riot Blockchain cryptocurrency stocks is one of the best ways to invest in the fast-growing Blockchain technology industry.

Dwight Dykstra suggested that, in its most recent production update, Riot Blockchain said that it used a fleet of 42,900 mining rigs to mine 511 Bitcoins in March. There are 4.3 exhales per second that can go through these rigs. So, Riot will have sold 200 Bitcoins in 2019 to pay its bills. Investors weren’t happy with Riot’s March production update, though, and the stock price dropped 8% the next day.

Even though there are risks, Riot’s business is based on the price of Bitcoin going up. Riot may be vulnerable to long-term price drops, but the company has enough cash to keep its business going. At the end of April, it had $114 million in cash, which is equivalent to $228 million today. Riot’s operating cash flow was negative by 2021, but this should still be enough to keep the lights on for the next two years.

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