Crypto Stocks Soar Over 300% as Bitcoin Rally Lefts Tech Titans in the Dust
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Four crypto-focused stocks (Riot Platforms, Coinbase, MicroStrategy, Marathon Digital) have skyrocketed over 300% in the past year, easily beating the returns of big tech "Magnificent 7" stocks.
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The crypto stock rally has been fueled by the broader surge in crypto prices over the past year, with Bitcoin up from under $17k to $44k.
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Short squeezes and new long investors have further boosted crypto stocks as skepticism turns to optimism about the crypto market.
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The best performing Magnificent 7 stocks are Nvidia (232% return) benefiting from AI demand, and Meta (164%) beating earnings and cutting costs.
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Even the highest flying Magnificent 7 stocks lag far behind the 300%+ returns of the leading crypto-focused stocks over the past year.