Bitcoin on Track to Hit New All-Time High: 3 Stocks in Focus
The cryptocurrency rally, which had slowed at the end of May, has regained momentum and is on track to reach a new high as investor confidence continues to bolster the market. Bitcoin (BTC), which reached a record high in May, gave up some of the gains but has since bounced back and is trading above the $110,000 mark.
The pullback seen in late May was largely due to profit-taking by the big whales, which have been selling off Bitcoin as tariff tensions continued to worry them. However, positive economic data, such as easing inflation, has raised expectations that the Federal Reserve might begin cutting interest rates soon, which is likely to benefit the crypto market.
In this environment, investing in crypto-related stocks could be a strategic move. Companies like PayPal Holdings PYPL, Visa Inc. V, and CME Group Inc. CME stand out for their strong growth potential heading into 2025. All three have seen upward revisions in earnings estimates over the past three months.
Bitcoin hit a record high of $111,886.41 on May 22. However, the cryptocurrency gave up some of its gains in the final week of May. The decline can be attributed to profit-taking. However, Bitcoin has still managed to stay above the $100,000 mark for more than 30 days at a stretch.
The rally regained momentum over the weekend, and on Monday, Bitcoin price surged more than 4% and was hovering around 110,500. The continued rally in Bitcoin is being driven by a mix of favorable developments, including improving U.S.-China trade relations, optimism over upcoming crypto regulations and increasing institutional investment.
Investor sentiment has further improved after President Donald Trump announced a temporary pause on new tariffs, and the United States and China agreed to a 90-day halt on imposing fresh duties. Talks between Trump and Chinese President Xi Jinping are scheduled, alongside negotiations with other global trading partners.
Meanwhile, regulatory progress in the crypto space is boosting confidence. The GENIUS Act — a legislative proposal aimed at regulating stablecoins — has made progress in the Senate. Trump and his crypto/AI advisor, David Sacks, have continued voicing strong support for pro-crypto policies, signaling a more favorable future for the digital asset industry.
PayPal Holdings provides digital wallet services that enable users to purchase, transfer and sell various cryptocurrencies, such as Bitcoin, Ethereum, Bitcoin Cash and Litecoin. Through PYPL, cryptocurrencies can be used to pay for goods and services from online merchants. Additionally, PayPal's mobile wallet platform, Venmo, allows users to engage in cryptocurrency buying and selling activities.
PayPal's expected earnings growth rate for the current year is 9.3%. The Zacks Consensus Estimate for current-year earnings has improved 1% over the last 90 days. PYPL currently has a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Visa is taking a significant step toward modernizing cross-border money movement. In a move aimed at enhancing the efficiency of global transactions, V is expanding its stablecoin settlement capabilities to the high-performing Solana blockchain. This expansion of V includes collaboration with prominent merchant acquirers Worldpay and Nuvei, marking a pivotal development in the world of digital payments.
Visa's expected earnings growth rate for the current year is 12.9%. The Zacks Consensus Estimate for current-year earnings has improved 0.4% over the last 90 days. V currently has a Zacks Rank #3.
CME Group Inc.'s options give the buyer of the call/put the right to buy/sell cryptocurrency futures contracts at a specific price at some future date. CME offers Bitcoin and ether options based on the exchange's cash-settled standard and micro BTC and ETH futures contracts.
CME Group's expected earnings growth rate for the current year is 9.5%. The Zacks Consensus Estimate for current-year earnings has improved 6.1% over the last 90 days. CME presently has a Zacks Rank #3.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
CME Group Inc. (CME) : Free Stock Analysis Report
Visa Inc. (V) : Free Stock Analysis Report
PayPal Holdings, Inc. (PYPL) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
38 minutes ago
- Yahoo
It sounds sick, but Iran hostilities may be good for stocks
It sounds sick, but Iran hostilities may be good for stocks originally appeared on TheStreet. So, President Trump ordered B-2 bombers to drop bunker-busting bombs on three Iranian nuclear facilities late Saturday. He pronounced the result "a spectacular success," with Iran's nuclear enrichment facilities "completely and totally obliterated." There will be lots of media coverage Sunday and beyond on whether the operation worked and whether the United States will be dragged into a third war in the Middle East since 1991. 💵💰💰💵 A question for investors, however, is this: How will stocks react?There are some unknowns. There's been no verification that Iran's nuclear enrichment facilities are, in fact, totally obliterated. It's not clear if Iran will try to cut a deal to stop the Israeli and U.S. bombing or opt somehow to play a long game of defending itself with missile shots at Israel and U.S. military bases in the Middle East. Nonetheless, there's a good chance Wall Street will seize on the attacks as a prime stock-buying opportunity. That's what happened in 2003's Second Gulf War when U.S.-led forces invaded Iraq and toppled the dictatorial regime of Saddam started to tumble in late January 2003 as another war against Iraq became inevitable. The Standard & Poor's 500 Index was down as much as 9% for the year on March 11. But then investors started to believe the invasion would go well, and the S&P 500 started to recover. Indeed, when Baghdad fell on April 9, 2003, the index had recovered all the early losses and was up 8.2% from the March low. And stocks never looked back. The S&P 500 finished up 26.4% in 2023. The gain from the March 2003 low to year-end: 38%. One will be able to see how investors and markets are looking at the conflict starting at 6 p.m. ET Sunday. That's when futures trading in the S&P 500, the Dow Jones industrials and the Nasdaq-100 starts. Gains like 2003 might not happen. Iran was lobbing missiles at the Israeli cities of Tel Aviv and Haifa into Sunday. And, so far, there's no hint that Iran's leadership wants a cease fire. A prolonged fight might be bad for stocks. Iran has missiles and drones to deploy. It could block off Strait of Hormuz, through which 25% of the world's crude oil is shipped. Blocking the strait would send global oil prices sharply higher and cause havoc for the global economy. in fact, oil prices already have reacted. As tensions have grown between Israel and Iran (and now the United States), crude oil has climbed 29.3% to $73.84 per 42-gallon barrel from a May 5 closing low. U.S. gasoline prices have risen, too, about 4% or so, to about $3.20 a gallon, according to companies would profit. In fact, stocks in the S&P 500's Energy Sector are up 9.2% so far in June, the best performance by any of the 11 S&P 500 sectors. Oil-and-gas producer APA Corp. () , the sector leader is up 15.8% over the last month, according to data. Exxon Mobil () has jumped 9.3%; Chevron () is has risen almost 9%. More Experts Analyst makes bold call on stocks, bonds, and gold TheStreet Stocks & Markets Podcast #8: Common Sense Investing With David Miller Veteran fund manager sends dire message on stocks Theoretically, the first-quarter earnings seasons is done, but some of the late stragglers due this week are important. These include: FedEx () , after Tuesday's close. FedEx shares have struggled, but there is hope. The delivery giant is doing business again with () , and its business overall is growing again. But shares are off nearly 20% this year because of tariff worries. Earnings are estimated to rise 8.9% from a year ago to $5.89 a share. Revenue will be off slightly at $21.8 billion. Cruise-line giant Carnival Corp. () , before Tuesday's open. Between August 2024 and Jan. 30, the shares doubled to $28.49 because bookings were beyond terrific. Then, the shares fell 49%, thanks to the Trump tariff plan and the mini-stock panic. Carnival is back to $23.77. The quarterly revenue estimate of $6.2 billion is up 7.3% from a year ago. Earnings of 24 cents a share would be up 118%. Chip maker Micron Technology () shares are up 47% this year, and Wall Street likes — no, loves — the stock, whose chips have carved out a lucrative spot in artificial intelligence. In fact, the shares are already ahead of one analyst's one-year price target. The revenue estimate is $8.8 billion, up nearly 30% from a year ago. Earnings of $1.59 a share would be up 156%. Nike () is having a challenging year. The shares are down 21% this year, third-worst among the Dow Jones industrial stocks. True, it's selling athletic wear and shoes again on but it is extremely vulnerable to the Trump tariff hikes. Barrons says Nike's factories in Vietnam, Indonesia and China manufacture 50%, 27% and 18% of all its footwear. (Yes, that adds up to 95% of production.) The Nike revenue estimate: $10.7 billion, down 15.1% from a year ago. Earnings of 12 cents would be down 88%.It sounds sick, but Iran hostilities may be good for stocks first appeared on TheStreet on Jun 22, 2025 This story was originally reported by TheStreet on Jun 22, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
38 minutes ago
- Yahoo
U.S. Sits on Billions of Untapped Oil Barrels
The United States is the largest oil and gas producer in the world. It is also experiencing a slowdown in its oil production for a number of reasons, including natural depletion. The U.S. Geological Survey, however, has just published a study stating that there are almost 30 billion new barrels of untapped oil—under federal lands, no less. Oil and gas drilling was a contentious topic during the Biden administration. The administration decidedly did not like it and put a serious effort into curbing this drilling as much as the law allowed. As soon as Donald Trump became president, the tables turned and drilling on federal lands became very much a desirable direction for federal energy policy to move in, with the President prioritizing affordable energy and higher exports. Now, the U.S. Geological Survey has thrown its weight behind the American energy dominance idea, reporting estimated undiscovered oil reserves of 29.4 billion barrels across the country, with the leader being Alaska with 14.46 billion barrels of untapped oil under federal lands. New Mexico is next, with 8.925 billion barrels of undiscovered oil, followed by Nevada, with 1.4 billion barrels. Untapped gas reserves on federal land were estimated at over 391.55 trillion cu ft. Now, the only question is when these hitherto untapped resources will be number of drilling rigs in the U.S. oil patch has been on a steady decline recently, reflecting an extended weakness in international prices. This has now changed, of course, after Israel attacked Iran on June 13, but the industry is in no rush to reverse course for the time being. The industry is playing it safe, not least because cheap drilling sites are running out—or maybe not, if the USGS assessment of untapped resources is correct. For years now, the biggest production growth driver of U.S. oil has been the Permian Basin, spanning Texas and New Mexico. The Permian has single-handedly offset declines in a number of other shale plays and largely uneventful day-to-day business in conventional fields. But the Permian is not inexhaustible, and more importantly, it's not cheap to drill everywhere there. So, costs are rising in the Permian as some parts of the play hit their geological limits while others, yet to be drilled, are not expected to be as prolific as that top-tier acreage that the industry is running out of currently. This has sparked some concern among commentators, although some have argued that there may yet be another boom left in the most prolific shale play in the country. Yet with the USGS's new assessment of undiscovered reserves, such a boom becomes less important for the current administration's dominance plans. If there are 14.46 billion untapped barrels of crude under Alaska alone, shortage of new oil will not become a problem for the world's top producer anytime soon. 'American Energy Dominance is more important than ever, and this report underscores the critical role science plays in informing our energy future,' Secretary of the Interior Doug Burgum said in comments on the USGS study. 'Thanks to the USGS's rigorous and independent assessment, we're better equipped to manage America's vast public lands responsibly while supporting energy security and economic opportunity.' Crude oil is currently trading at over $75 per barrel. In fact, WTI is climbing closer to $76 per barrel amid the spike in violence in the Middle East. How long this will hold is anyone's guess, but the fact is that prices are set for their third consecutive weekly rise. This is a short-term development, of course, while oil companies are more interested in the long-term outlook for their business. This is also uncertain, alas, because federal policy could flip in three years just like it flipped when Trump took the helm. Indeed, environmentalists are massively unhappy about any oil and gas drilling on any federal lands. 'America's public lands are intended to be held in trust for all people in this country, and their resources managed carefully and in perpetuity,' a Natural Resources Defense Council blog post from February said, as quoted by Bloomberg. 'As the Trump administration shifts to a pro-industry footing to help rich dirty energy companies get even richer, we're seeing this trust responsibility shirked in shocking and truly damaging ways,' the author, senior program advocate Josh Axelrod, wrote. The Center for American Progress claimed earlier this year that more drilling on federal lands would not bring down energy costs for Americans, in part because companies were uninterested in the acreage that the federal government had to offer, and also, they worked like a cartel to set prices. Such attacks on oil and gas will no doubt intensify—even as banks, the actual people with the money, walk back their climate commitments and boost investment in oil and gas. With or without these attacks, however, tapping those billions of barrels would depend on one thing only: whether it makes economic sense. With new discoveries few and far between globally, they might start making such sense before very long. By Irina Slav for More Top Reads From this article on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
If You Had Invested in Trump's 1980s Companies, Here's How Much You'd Have Today
President Donald Trump wasn't always the commander-in-chief; prior to having engaged in a political career which has seen him become the 45th and 47th president of the United States in serving non-consecutive terms, Trump was known as a businessman — and later, media personality — who partook in a variety of different entrepreneurial ventures. Trump's Economy: Read Next: If you'd backed those publicly traded ventures in the 1980s, how would your investments be faring today? Launched to much fanfare in 1995, Trump took Trump Hotels and Casino Resorts public, attracting $140 million in stock purchases from investors betting big on the well-known real estate tycoon. However, with Trump at the helm, holdings went from a single Atlantic City Casino to quickly snatching up debt-burdened Taj Mahal and a third Atlantic City casino, both previously owned by the now-president himself. A number of personal loans borrowed from the company followed suit, according to a Forbes report, and eventually, the company lost $647 million from 1995 through 2004, when it declared bankruptcy. Learn More: Following the initial 2004 bankruptcy, Trump Hotels and Casino Resorts was renamed as Trump Entertainment Resorts. And while Trump was paid $2 million per year despite stepping down as CEO (after receiving an approximately $50 million for services and rents rendered during his tenure as chief over Trump Hotels and Casino Resorts), that company lost $189 million in 2007 and a further $232 million in 2008. On Feb. 13, 2009, Trump as well as his daughter, Ivanka Trump — installed on the board in 2007 — resigned their posts. On Feb. 17, Trump Entertainment Resorts declared bankruptcy. Today, Trump Entertainment Resorts exists as a fractional penny stock with negligible value, meaning that investors who did not sell their shares earlier would be essentially left with no value. Trump Media & Technology Group remains in play, however, with majority ownership resting in the hands of the president. The company is most notably involved with Trump's Truth Social social media platform, although in recent days it has been dedicated to building a substantial Bitcoin treasury reserve. According to Benzinga, the SEC recently gave the nod of approval for Trump Media to expand upon these plans with a slated $2.3 billion capital investment, coming from more than 50 institutional investors. Following an initial blockbuster public opening on March 26, 2024 — the first time in nearly 30 years where a portion of the president's business empire went public, per CNN — where shares reached ~$78 before falling to rest at around $70, Trump Media's stock price has tumbled precipitously. As of close of trading on June 20, share prices were at $17.83. Editor's note on political coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on More From GOBankingRates How Much Money Is Needed To Be Considered Middle Class in Your State? This article originally appeared on If You Had Invested in Trump's 1980s Companies, Here's How Much You'd Have Today
