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2 Potentially Explosive Crypto Stocks to Buy in April
PYPLPayPal(PYPL) The Motley Fool·2024-04-20 09:30

Group 1: PayPal - PayPal is recognized primarily as a payments company with over 400 million users, providing a secure platform for digital transactions [2] - The acquisition of Venmo in 2013 for 800millionhasproventobeasuccessfuldecision,withVenmostransactionvolumegrowingfromafewbilliondollarsin2013tonearly800 million has proven to be a successful decision, with Venmo's transaction volume growing from a few billion dollars in 2013 to nearly 70 billion last quarter, including a rising share of crypto payments [3] - PayPal's traditional business is experiencing a decline, leading to its stock trading at a discount; however, the integration of crypto payments could serve as a new growth driver, leveraging its large user base [4] Group 2: Block - Block, similar to PayPal, has exposure to crypto payments through its Cash App, which has about 50 million users and allows transactions in various cryptocurrencies [6] - Block has additional crypto-related business lines, including software divisions like TBD and Spiral, and its Square platform that facilitates mobile payments with crypto acceptance [7] - Currently, Block's stock is valued at just 2 times sales, significantly lower than its previous valuation above 10, indicating a potential investment opportunity for long-term crypto growth believers [7]