Bitcoin and the cryptocurrency industry have shown investors incredible growth potential time and again. While last year’s rally, which lasted most of the year and into 2021, is hot on our minds, crypto stocks and cryptocurrencies have seen massive rallies like this before.
Despite this rapid growth, though, the crypto industry has always been a long-term investment.
Because as much growth potential as there is, there’s almost as much volatility. This makes it very difficult and highly risky to try and speculate on short-term price movements.
It’s far better to take a position for the long-term if you believe in the technology and its potential. Cryptocurrencies and blockchain technology are revolutionary and continue to offer significant prospects for growth.
So, if you’re bullish on this high-potential technology, here is one of the top crypto stocks to buy and hold for years.
A top crypto stock for long-term investors For investors who are bullish on the cryptocurrency sector, there are tonnes of high-potential crypto stocks offering many different opportunities.
You can consider a mining stock. These businesses will see massive growth as the price of the cryptos they mine rise in value. There are also revolutionary technology companies such as the businesses that are creating non-fungible tokens (NFTs).
In my view, though, the best investment in the cryptocurrency space has to be Galaxy Digital Holdings (TSX:GLXY).
Galaxy Digital Holdings Every stock that you consider as an investment in the crypto space will offer unique opportunities. Galaxy Digital is the best, though, because it has numerous operating segments, creating multiple opportunities for investors.
First off, it has an asset management business that has exploded in popularity over the last 12 months. Galaxy creates publicly traded investment funds for Canadians to gain exposure to highly popular cryptocurrencies indirectly.
Offering a publicly traded fund that gives investors exposure to cryptocurrencies is genius. Buying even the most popular coin like Bitcoin can be confusing and extremely costly. So, a low-cost fund that’s a straightforward investment will appeal to a lot of Canadians.
Galaxy also offers prime brokerage services, a custodian business, and a trading segment, all operations that will grow as the popularity of the industry continues to increase. Having businesses that can grow even as the price of major cryptos trades rangebound is crucial for its success.
However, that’s not all from this high-potential growth stock. Galaxy Digital also has its own mining segment, where it has its own operations and supports those from mining companies across the sector.
It even has a principal investments arm, where the company invests in new, up-and-coming technology or crypto businesses that it thinks have a tonne of potential.
Galaxy Digital is a quintessential financial services stock that operates in the cryptocurrency industry. Its high-quality operations, which give investors exposure to various subsectors in the crypto space, make Galaxy Digital the best investment.
The crypto industry is highly volatile, though, and needs to be approached from a long-term perspective. So, if you’re considering a top crypto stock to gain exposure to the massive revolution going on in the space, Galaxy Digital is one of the best to consider.
The post Long-Term Investors: This Crypto Stocks Offers an Incredible Opportunity appeared first on The Motley Fool Canada.
Fool contributor Daniel Da Costa owns shares of Galaxy Digital Holdings Ltd. The Motley Fool has no position in any of the stocks mentioned.