Eye-catching Bitcoin (BTC-USD) surges 23% month-over-month, reviving analysts’ forecasts of the crypto pointing higher towards the $50,000-mark and consequently thrusting crypto stocks higher. US Securities and Exchange Commission’s go-ahead of the Bitcoin ETF is being celebrated as a driver for what could create market momentum and impetus for investors taking additional crypto stock positions when diversifying their portfolios. Taking into account Advanced Micro Devices, Inc. (NASDAQ: AMD), not inherently cryptocurrency focused but fortified at the coalface with its GPUs paving the way for crypto mining, AMD hopes to double chip market sales by 2024 with the OEM’s launch of its MI300A and MI30X GPUs.
Meta Platforms (NASDAQ: META), after pugnaciously persevered a tricky 2022, surges a stunning 152% YTD, exploring ecosystem applicability with increased penetration into the virtual and augmented reality (VR/AR) terrain divulging the potential for authenticating digital assets and launching a native cryptocurrency token. With their Securities and Exchange Commission filing tantamount to outstanding share performance unveils $4.39 Earnings Per Share topped the analyst prediction by an impressive 76 cents and outclass $34.15 billion in figures altogether eluding expectations of $590 million.
Shopify (NYSE: SHOP) has found a way to incorporate blockchain infrastructure within the e-commerce platform by allowing for cryptocurrencies to be received, equipping merchants with more way for user payments. Last month saw further implementation of payments enabled with Solana Pay allowing USDC-USD transaction through sideways wallets such as Phantom. Such financial history offered the platform and active core investments set Shopify to not only begins to ingrain Web3 focused projects, and becomes one of major establishments that allows transactions in altcoins, enabling present and new users to take further advantage of cryptocurrency, not Implemented in the same manner as mining, yet assisting on crypto pathway nonetheless.
Revenues and profits impressed interim reports as well as financial health are understandable components impressing the spectators on the rise of cryptocurrency use teases a memorable ‘To-of-the-heap’ scroll as a 24 cents earnings-per-spVE surpassed pre-estimation four-fold at 14 cents nudging revenues up +23.2% and triumphing estimates JP at +1.71 billion ($1.67 billion observers’ expectation).
