In this article, we will look at the 13 Crypto Stocks with the Highest Upside Potential.
On June 14, CNBC reported that Philippe Laffont, founder of Coatue Management, said that the volatility of Bitcoin initially stopped him, like several other investors, from investing in the cryptocurrency. However, he stated that the flagship crypto is being embraced by institutional heavyweights, which can be considered a key sign of maturity for the previously volatile cryptocurrency.
According to him, Bitcoin has become less volatile and more mature over the years, and this trend shows no signs of waning. It is expected to continue as Bitcoin expands and more people recognize its value. Bitcoin currently represents a small chunk of the world’s net world, about $2 trillion out of $500 trillion, according to Laffont.
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However, he said that if one assumes that this growth trend will continue for the cryptocurrency, it could ultimately lead to a time where it “has to become more central” to a portfolio. Talking at Coinbase’s State of Crypto Summit in New York City, he further said:
“It’s intriguing to me that maybe … the cost of getting into bitcoin is shrinking. If the beta shrinks, that would be very interesting.”
In addition to the interest of institutional investors, Laffont said that the number of Bitcoin wallets that held it for at least a month and sold their full position has dropped “a lot.” This suggests that instead of trading the cryptocurrency, investors are holding onto it.
With these optimistic trends in view, let’s look at the 13 crypto stocks with the highest upside potential.
A close-up of a person’s hands holding cryptocurrency coins.
Our Methodology
We used stock screeners, ETFs, and financial media reports to compile a list of crypto stocks with positive analyst upside potential and selected the top 13 that analysts were most bullish on. We also added the number of hedge fund holders for the stocks as of Q1 2025, sourcing the data from Insider Monkey’s database. The list is arranged in ascending order of analyst upside potential.
Note: All data was sourced on June 18.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
13 Crypto Stocks with the Highest Upside Potential
13. MicroStrategy Incorporated (NASDAQ:MSTR)
Analyst Upside: 43.88%
Number of Hedge Fund Holders: 33
MicroStrategy Incorporated (NASDAQ:MSTR) is one of the 13 Crypto Stocks with the Highest Upside Potential. On June 17, TD Cowen analyst Lance Vitanza maintained a Buy rating on MicroStrategy Incorporated (NASDAQ:MSTR) with a price target of $590.
The rating update came after MicroStrategy Incorporated (NASDAQ:MSTR) announced that it acquired 10,100 Bitcoins in the June 9 to June 15 period for around $1.05 billion. The average price of the Bitcoins came up to $104,080 per bitcoin, as per Strategy’s 8-K filing with the US Securities and Exchange Commission (SEC). After the acquisition, the company holds 592,100 Bitcoins at an average price of $70,666, collectively valued at over $63 billion.
MicroStrategy Incorporated (NASDAQ:MSTR) spent around $41.84 billion to acquire these Bitcoins and conducted the latest acquisition using the proceeds from its preferred share offering. The company’s total Bitcoin holdings now represent around 2.8% of the total Bitcoin supply of 21 million.
MicroStrategy Incorporated (NASDAQ:MSTR) engages in the development of the Bitcoin network through its operations in technology, financial markets, and advocacy. It is the world’s largest corporate holder of Bitcoin.
12. Riot Platforms Inc. (NASDAQ:RIOT)
Analyst Upside: 47.49%
Number of Hedge Fund Holders: 35
Riot Platforms Inc. (NASDAQ:RIOT) is one of the 13 Crypto Stocks with the Highest Upside Potential. On June 17, Needham analyst John Todaro raised the firm’s price target on Riot Platforms Inc. (NASDAQ:RIOT) to $15 from $12, keeping a Buy rating on the shares. The analyst based the rating upgrade on the significant opportunities present for the company, with one of the primary reasons being its Corsicana site.
The analyst told investors in a research note that the Corsicana site is considered one of the most promising high-performance computing (HPC) locations in the company’s coverage. He further reasoned that in recent checks with neo-cloud operators, Riot Platforms Inc. (NASDAQ:RIOT) found that over 50% of the demand is for inference workloads, and it is continuously growing. Inference workloads require low latency, and the Corsicana site is well-positioned to meet the growing demand with its beneficial location near Dallas and considerable capacity.
Another reason behind the analyst’s optimistic outlook is Riot Platforms Inc.’s (NASDAQ:RIOT) focus on the transition to HPC, expecting advanced discussions with potential tenants by H2 2025. Todaro stated that while a lease is not expected until H1 2026, it could have a substantial financial impact, considerably boosting the company’s share price.
Riot Platforms (NASDAQ:RIOT) is a Bitcoin mining and digital infrastructure company. It operates Bitcoin mining operations in Kentucky and central Texas, along with electrical switchgear engineering and fabrication operations in Denver. The company is divided into two segments: Bitcoin Mining and Engineering. The Bitcoin Mining segment undertakes Bitcoin mining activities, while the Engineering segment manufactures and designs power distribution equipment and custom-engineered electrical products.