Forget Bitcoin, Here are Two Stocks You Should Buy

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Bitcoin has gone through a brutal meltdown in May, and a further decline is possible in June. Investors’ interests in crypto have greatly diminished, plus the crackdown on the cryptocurrency space has started in some countries.

Bitcoin volatility is on full display. In June, the world’s most popular cryptocurrency has plummeted by 42.5 percent from its April peak of $63, 503.46 to 36, 514.79. JP Morgan analysts say that institutional investors are shifting from Bitcoin to traditional gold.

Canadian investors should not take these events lightly. Bitcoin is risky. Instead, the stock market is performing well, if you’re looking for good returns, HIVE Blockchain Technologies (TSXV: HIVE) and Capstone Mining (TSX: CS) stock to consider.

HIVE Blockchain Stock

HIVE is a top Ethereum and Ethereum Classic miner. Analysts believe that Ethereum could unseat Bitcoin, though it had an unstable May, the digital asset reported a 40 percent increase of revenue in the previous month.

HIVE mining company operates in Canada, Iceland, and Sweden. The $1.2 billion crypto mining company holds crypto assets worth $79 million. The company is the first publicly traded blockchain and enjoys a first-mover advantage.

On June 4th, 2021, HIVE shares traded at $2.99, however, the year-on-year return is enormous. If you invested $5, 000 a year ago, you would have $39, 343.11 today.

Capstone Mining

Capstone stocks are high again at 124.8 percent year-to-date gain. The company’s stock currently trades at $5.35 per share. Market analysts estimate that in the next 12 months shares price will hit $7.70.

Capstone has two copper mines in Vancouver, U.S., Mexico, and Chile. In the first quarter of 2021, the company’s revenue increased by 189.9 percent. Net income during the quarter was 4127 million and a $21.9 million net loss.

The Metal producer from Vancouver has also increased its production by 34.6 percent. Its copper sale has also increased by 61.8 percent. The $2.13 billion company has also achieved a cash flow record of $95 million in the first quarter of 2021.

Bottom line

Bitcoin rally in 2021 was phenomenal, but recovering from the catastrophic decline is doubtful. The world’s largest economies are pressing financial institutions not to offer crypto trading. The U.S. Treasury has also warned about the speculative

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