Posted 12/7/2023, 10:36:04 PM
Coinbase Slumps While Riot Platforms Surges in Diverging Cryptocurrency Fortunes
- Coinbase operates the largest US cryptocurrency exchange, while Riot Platforms mines bitcoin and provides digital infrastructure
- Coinbase stock has fallen from its highs recently due to insider selling and investors taking profits
- Riot Platforms is benefiting from increasing its bitcoin mining production and capability
- Riot Platforms is expected to become profitable in 2025 due to the upcoming Bitcoin "halving" event in 2024
- Based on recent developments, the author has a bearish view on Coinbase but a bullish view on Riot Platforms