Top Crypto Stocks to Buy In December: $COIN, $MSTR, $HOOD

05.12.2023

The rapid increase in Bitcoin (BTC) price is driving investors to crypto stocks. Since November, shares of companies with links to digital assets, for instance, Coinbase Global, Inc. ($COIN), PayPal ($PYPL), MicroStrategy ($MSTR), Robinhood ($HOOD), CME Group, and more have recorded a strong comeback in tandem with the bullish outlook in the crypto market.

As earlier reported, Coinbase continued with the rally last week during the pre-market trading on Monday to $143, thanks to the optimism surrounding the potential approval of multiple spot Bitcoin exchange-traded funds (ETFs).

Bitcoin price is up 55% since October 1, underscoring the bullish structure forming ahead of a larger rally anticipated with the ETF approval and the halving in April 2024.

Investors see this period as a lifetime opportunity to ride the trend possibly to a new all-time high. Bitcoin almost touched $70,000 in the previous bull run in 2021 with the next rally expected to blast the prominent crypto to highs above $100,000.

As most investors book positions in Bitcoin and other cryptos, those not interested in seeking direct exposure to the volatile crypto market may want to consider crypto stocks. This article will shed light on some of the best crypto stocks to buy in December in readiness for a bullish 2024.

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Coinbase ($COIN)

Coinbase’s position in the crypto market as a leading crypto exchange in the United States and equally competitive at a global level sets it apart from other crypto stocks.

The company’s strict listing rules have commanded customer trust and loyalty over the years. Moreover, Coinbase is among the most sought-after custody services providers, with institutional-grade technologies and infrastructure.

Due to Coinbase’s leadership role in the industry, nine of the 12 companies applying to operate Bitcoin spot ETFs including BlackRock have enlisted the company as the dedicated custody services provider.

Coinbase stock, although trading below half of its all-time high of $342, has the potential to outperform its peers, mainly due to its position in the industry. For this reason, $COIN tops the list of the must-have crypto stocks in December.

Coinbase ($COIN) | Yahoo Finance

Robinhood ($HOOD)

Robinhood ($HOOD), a leading stocks and crypto trading platform, also stands out as a must-have in the portfolio this December. The company provides financial services by allowing investors to access commission-free stock trading among other services like options, cryptos, and ETFs.

Although majorly based in the US, Robinhood has been making plans to expand to the United Kingdom.

Like Coinbase, $HOOD has been on a recovery path, climbing from November lows of $7.93 to the current market value at $9.51. $HOOD surged by an additional 2% on Monday, bolstered by a Bitcoin price rally above $42,000.

Robinhood ($HOOD) | Yahoo Finance

If the bullish structure in the crypto market sustains into the new year, Robinhood could be on the fastest lane to a comeback aimed at its all-time high of around $55. Dollar-cost averaging (DCA) into $HOOD could prove profitable short-term to long term.

MicroStrategy ($MSTR)

As the largest single holder of Bitcoin, MicroStrategy ($MSTR) is one of the leading crypto stocks that should not be missed in the portfolio this December. The company’s commitment to Bitcoin emphasizes the potential of the crypto industry.

Up 6.11% on the day, $MSTR is trading at $559. The stock has continued to sustain an upward trajectory since January when it traded at $145.

MicroStrategy ($MSTR)

Although there are many crypto stocks to consider when building a portfolio, Coinbase ($COIN), Robinhood ($HOOD) and MicroStrategy ($MSTR) are among the best picks for December.