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Bitcoin has been on a bullish run in 2024, with its price surging past $60,000 and reaching above $71,000 in early May. Regulatory approval of 10 spot Bitcoin ETFs in January has contributed to this upward trajectory. The recent passage of a landmark crypto bill in the House of Representatives has also boosted confidence in the digital asset sector. As a result, investors are advised to keep an eye on stocks such as Block, Inc., Coinbase Global, Inc., and NVIDIA Corporation, which are expected to benefit from Bitcoin's bullish run. Block generates revenues from products like Cash App, while Coinbase is a crypto trading platform, and NVIDIA is designing GPUs for mining cryptos such as Bitcoin. All three companies have favorable Zacks Ranks and strong expected earnings and revenue growth rates for the current year.
