QBT, OBC, ARB: Stocks to consider with increasing crypto penetration in UK

4 min read | April 05, 2022 12:36 AM AEST | By Priya Bhandari

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QBT, OBC, ARB: Stocks to consider with increasing crypto penetration in UK — Image source: Shutterstock.com

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A survey has highlighted that nearly fifth of Britons now own some form of crypto assets after the transformational year for the crypto market.

The new research found that 45% of the people who invested in crypto assets were first-time crypto investors, indicating a huge surge in crypto ownership over the last 12 months.

Cryptocurrencies are gaining popularity by the day. From Bitcoin, Solano to Dogecoin, there are thousands of cryptos trading in the market right now grabbing eyeballs of the investors across the world. A survey of around 2,300 Britons conducted by the cryptocurrency exchange Gemini has revealed that around fifth of Brits now own some form of crypto assets after the transformational year for the crypto market as awareness of crypto has increased dramatically.

only one third of current crypto owners are women in the Europe and the US

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The research highlighted that 45% of the people who invested in crypto assets were the first-time crypto investors, indicating a huge surge in crypto ownership over the last 12 months. However, research from the Financial Conduct Authority (FCA) in 2021 revealed that only 3.9%-4.4% of Brits invested in crypto assets.

The New York-based trading platform surveyed almost 30,000 people in 20 countries across the world and found that 41% of crypto investor started investing in cryptos last year. Around 41% of respondents said they want to know more about cryptocurrencies, of which 41% were women.

However, only one third of current crypto owners are women in the Europe and the US, while two in five crypto enthusiasts in the US invest in crypto to hedge against the rising inflation.

Let us look at 3 crypto stocks that you may consider investing in with the rising popularity of cryptocurrencies around the world.

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Quantum Blockchain Technologies Plc (LON: QBT)

Quantum Blockchain Technologies Plc is an investment company engaged in identifying and developing a new approach to blockchain technology and investing in R&D and blockchain technology programmes.

The company has recently announced that its R&D team has developed a quantum version of the BTC mining algorithm, based on the Quantum Bit (qubit) and announced that it has appointed an international expert in the field of Machine learning to its AI team. It is working with two independent partners to conduct verification tests on the final performance of QBT’s prototype ASIC and is also planning to conduct tests using the new optimisations within an ASIC development environment which will provide more accurate measures with respect to energy consumption and mining speed.

The FTSE AIM All-Share-listed company’s share value has appreciated by 34.52% over the last one year as of 4 April 2022, while its year-to-date return stands at -7.36%. With a current market cap of £28.42 million, its shares were trading at GBX 2.85, down by 1.72%, at 12: 55 PM (GMT), as of 4 April 2022.

Also Read: Yellow Cake, Aura Energy: Uranium stocks investors may consider now

Online Blockchain Plc (LON: OBC)

Online Blockchain Plc is a blockchain research and development incubator that is engaged in the development of blockchain technology. The company has reported revenue of £4,228,000 in the six months to 31 December 2021, up from £4,233,000 on in the same period of 2020. Its profit for the period stood at £202,000, up from £264,000 in the same period of 2020.

The FTSE AIM All-Share-listed company’s share value has depreciated by 41.64% over the last one year as of 4 April 2022, while its year-to-date return stands at -15.45%. With a current market cap of £4.94 million, its shares were trading at GBX 34.50, at 12: 55 PM (GMT), as of 4 April 2022.

Argo Blockchain Plc (LON: ARB)

UK-based cryptocurrency mining company Argo Blockchain Plc provides mining-as-a-software (MaaS) services that make it easy to mine various cryptocurrencies. The company has recently announced that it has entered into a fleet swap agreement with Core Scientific Inc for the S19J Pro machine. The fleet swap represents around 60% of the company’s total mining capacity and will reduce its operational expenses.

In the month of February, the company mined 135 Bitcoins, down from 172 Bitcoin in January due to a record high global hashrate and subsequent network difficulty increased.

The Main Market-listed company’s share value has depreciated by -69.47% over the last one year as of 4 April 2022, while its year-to-date return stands at -25.70%. With a current market cap of £355.74 million, its shares were trading at GBX 73.00, down by 3.95%, at 12: 55 PM (GMT), as of 4 April 2022.

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Note: The above content constitutes a very preliminary observation or view based on market trends and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.

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