Posted 12/15/2023, 12:01:00 PM
Riot Platforms Edges Out MicroStrategy as the Better Bitcoin Stock Bet in 2023
- MicroStrategy is a software company that started buying Bitcoin in 2020; its BTC holdings are now worth $4.7B
- Riot Platforms mines Bitcoin; it produced 18.4 BTC per day in Nov 2022 and holds 7,358 BTC on its balance sheet
- MicroStrategy stock has risen 290% this year, while Riot's is up 310% along with Bitcoin's price rally
- Riot's business model directly ties it to Bitcoin's price and energy prices, while MicroStrategy is more diversified
- Riot may be the better Bitcoin stock pick because its growth is more stable, its balance sheet healthier, and its valuation lower