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Is Bitdeer Technologies Group (BTDR) the Best Cryptocurrency Stock to Buy Now?

We recently published a list of 13 Best Cryptocurrency Stocks to Buy Now. In this article, we are going to take a look at where Bitdeer Technologies Group (NASDAQ:BTDR) stands against other best cryptocurrency stocks to buy now.

Cryptocurrency stocks are on the move in the aftermath of US President Donald Trump announcing plans for a “Crypto Strategic Reserve.” The possibility of a cryptocurrency reserve is a significant step toward Trump’s goal of making the United States the global center of cryptocurrency.

The United States already possesses several strategic stockpiles, such as medical and military assets. In times of need, the government draws from these unique reserves. To keep the Federal Reserve afloat, the government would probably be actively purchasing and disposing of cryptocurrencies as part of the strategic reserve push.

“This move signals a shift toward active participation in the crypto economy by the U.S. government,” said Federico Brokate, head of U.S. business at 21Shares, a digital assets investment management firm. “It has the potential to accelerate institutional adoption, provide greater regulatory clarity, and strengthen the U.S.’s leadership in digital asset innovation.”

Additionally, some Bitcoin holders think that a cryptocurrency reserve may act as an inflation hedge. They contend that at times of global economic crisis, the value of Bitcoin may surpass that of the dollar, citing the currency’s declining worth over time. However, cryptocurrencies have shown to be highly volatile during recent geopolitical events, like Russia’s invasion of Ukraine. Additionally, some experts believe that the US government purchasing Bitcoin could endanger the dollar’s standing internationally.

READ ALSO: 12 Best NYSE Penny Stocks to Buy According to Analysts and 10 Best Semiconductor Penny Stocks To Invest In Right Now.

Critics contend that cryptocurrency is a speculative investment and has historically been volatile, while proponents claim that the proceeds may be used to pay down the country’s massive debt. Approximately 200,000 Bitcoin tokens are thought to be held in the United States due to illegal seizures. The total value of that exceeds $17 billion. With a reserve, these holdings might be expanded to include three lesser-known cryptocurrencies, XRP, Solana, and Cardano, in addition to Ethereum.

Amid the “crypto strategic reserve” push, cryptocurrency stocks’ popularity is growing as investors explore ways of diversifying their investment portfolio beyond traditional asset classes. The stocks stand out partly because they offer crypto exposure without requiring one to own the underlying volatile crypto asset. Additionally, the stocks provide both growth potential and innovation. Many experts regard them as being safer than direct cryptocurrency investments.

Our Methodology

To determine the 13 best cryptocurrency stocks to buy now, we analyzed the US market for companies with exposure to cryptocurrencies and blockchain technology. Our in-depth analysis focused on firms with solid prospects due to their investments in cryptocurrencies and the underlying technology. We reviewed ETFs and financial media reports to compile a preliminary list. Finally, we ranked the stocks in ascending order based on the hedge fund stakes in them during Q4 2024.

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).

A construction team in a mining datacenter building work site with plans and equipment in hand.

Bitdeer Technologies Group (NASDAQ:BTDR)

Average Upside Potential as of March 11: 142.08%

Number of Hedge Fund Holders: 31

Bitdeer Technologies Group (NASDAQ:BTDR) operates as a technology company for blockchain and computing. It offers hash rate sharing solutions, including Cloud hash rate and a one-stop mining machine hosting solutions for efficient cryptocurrency mining. The company has set out to become the largest vertically integrated Bitcoin miner.

Consequently, it’s been expanding access to power to ramp up mining operations. It has already acquired a 101-megawatt power project in Alberta, Canada, to scale its mining operations. Nevertheless, Bitdeer delivered a steep net loss of $531.9 million in the fourth quarter of 2024 compared to a net loss of $5 million in the same period a year earlier.

The wider-than-expected net loss came on Bitdeer Technologies Group (NASDAQ:BTDR) moving to develop its application-specific integrated circuits (ASICs), which are specialized chips designed for Bitcoin mining. The company is currently finishing up the design of its second and third-generation mining chips after starting mass production of its SEALMINER A1 Bitcoin mining hardware in the fourth quarter.

Even as the company continues to ramp up Bitcoin mining operations, it’s also taking advantage of a steep decline in BTC prices. The company leveraged a decrease in Bitcoin to purchase 50 BTC at a cost of about $81,475. The company’s total holding has since surged to 640 BTC. Bitdeer has also announced plans to return value to shareholders through a $20 million share repurchase program.

Overall, BTDR ranks 8th on our list of best cryptocurrency stocks to buy now. While we acknowledge the potential of BTDR as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than BTDR but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires

Disclosure: None. This article is originally published at Insider Monkey.

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