5 Crypto Stocks Going Up with Bitcoin

Bitcoin (BTC), the world's leading cryptocurrency, surpassed a market capitalization of $1 trillion for the first time in two years, also breaking through the $52,000 mark.

The recent one jump of Bitcoin can be attributed to the introduction of spot Bitcoin ETFs in January, which made it easier for investors to access Bitcoin without direct ownership. Since launching, these ETFs have accumulated over $10 billion in assets under management, indicating strong investor demand and a reduction in outflows from Grayscale Bitcoin Trust (GBTC).

ARK Invest considers Bitcoin as a potential successor to gold, citing its resilience to economic uncertainties such as inflation and rising interest rates. 

Shares of some crypto companies also rose in parallel with the digital asset rally. Among the top performers this year are CleanSpark ( CLSK ), Nvidia ( NVDA ), Advanced Micro Devices ( AMD ), Marathon Digital Holdings ( MARA ), and Iris Energy ( IREN ).

• CleanSpark (CLSK) operates eco-friendly data centers for cryptocurrency mining, with a 56% profit this year and an expected revenue growth rate of 81.4% for FY2024.
• Nvidia ( NVDA ) is the leader in visual computing technology and GPUs, boasting a 47% increase this year and expected growth of 64.4% for fiscal 2025.
• Advanced Micro Devices (AMD) offers high-performance processor technologies used in the mining of Bitcoin and other cryptocurrencies, with 20% growth this year and an expected revenue growth rate of 30.9% this year.
• Marathon Digital Holdings (MARA) specializes in digital asset technology and cryptocurrency mining, experiencing 2024% growth in 15 and forecasting a staggering 457.4% revenue growth this year.
• Iris Energy (IREN) focuses on Bitcoin mining using renewable energy sources, posting an 8% increase this year and forecasting revenue growth of 100.3% for FY2024.

These stocks offer different investment opportunities within the cryptocurrency space, each with their own growth prospects and market positioning. However, investors are advised to do their own research on the sector before considering any investments. This article does not constitute financial advice.