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Bitcoin Set to Cross $100,000 on Post-Election Rally: 4 Stocks to Buy
AccentureAccenture(US:ACN) ZACKSยท2024-11-28 15:00

Market Overview - Bitcoin (BTC) reached an all-time high of $99,027 on November 22, followed by a slight pullback but remains above $95,500, indicating a potential new milestone ahead [1] - The rally that began in 2023 paused in Q2 but rebounded in September after the Federal Reserve's first interest rate cut, driven by optimism from Donald Trump's election win [2] Regulatory Environment - Trump's campaign promises include transforming the U.S. into the "crypto capital of the planet," with plans for a strategic Bitcoin reserve and supportive regulators, enhancing market optimism [6] - Recent Federal Reserve minutes indicate plans for gradual rate cuts, which are expected to further support cryptocurrency prices [7] Investment Opportunities - Investing in Bitcoin-centric stocks such as Coinbase Global, BlackRock, Accenture, and NVIDIA is recommended due to their strong growth potential and positive earnings revisions [3] Company Summaries - BlackRock, Inc. (BLK): Expected earnings growth rate of 14.3% for the current year, with a 4.4% improvement in earnings estimates over the past 60 days, currently holds a Zacks Rank 1 [8] - Coinbase Global, Inc.: Provides financial infrastructure for the cryptocurrency economy, with an expected earnings growth rate of over 100% and a 3.7% improvement in earnings estimates over the last 60 days, currently holds a Zacks Rank 2 [10] - Accenture plc (ACN): Focuses on Ethereum-based blockchain solutions, with an expected earnings growth rate of 6.9% and a 0.3% improvement in earnings estimates over the last 60 days, currently holds a Zacks Rank 2 [12] - NVIDIA Corporation (NVDA): A leading GPU designer with an expected earnings growth rate of over 100% and a 4.3% improvement in earnings estimates over the last 60 days, currently holds a Zacks Rank 2 [14]