Bitcoin Mining Shares Outperform Tech Giants in 2023
According to CryptoPotato, Apple's Vision Pro headset announcement in June led to a 55% increase in its share price in 2023, while Amazon's shares rose 79% as its AWS division pivoted to AI-focused products. However, these technology giants could not enter the top 10 in the 2023 annual return rankings. Instead, the best performers were all Bitcoin mining stocks; four companies were among Wall Street's top ten performers this year. These companies even outperformed Bitcoin's 157% price gains for the year; This indicates a strong demand from traditional investors for a safe and regulated way to include cryptocurrency in their portfolios.
Four Bitcoin mining stocks that are outperforming almost the entire market; Cipher Mining (CIFR), which ranked third for the whole year after gaining 1,042% in 12 months, Marathon Digital (MARA) and CleanSpark (CLSK) rose to fourth place with a 783% return on investment. It ranks seventh on Wall Street with 590%, and Riot Blockchain (RIOT) ranks tenth with a one-year gain of 430%. Galaxy Digital CEO Michael Novogratz commented on the trend, saying, âCrypto stocks are trading almost like a frenzy.â
became mining stocks; four companies were among Wall Street's top ten performers this year. These companies even outperformed Bitcoin's 157% price gains for the year; This indicates a strong demand from traditional investors for a safe and regulated way to include cryptocurrency in their portfolios.
