Investors should consider Riot Platforms (RIOT).
After all, the higher Bitcoin goes, the higher the miners go. Since the start of November, the BTC rally forced RIOT from a low of about $9 to a recent high of $12 so far. From here, we’d eventually like to see RIOT closer to $20 again.
Helping, “We’re entering a more bullish phase for Bitcoin and the rest of the digital asset market, and a lot of the short-sellers of late have really been caught off guard. Excitement over an approval of these spot Bitcoin ETFs is certainly providing a tremendous amount of momentum,” said Brian Evans, CEO of BDE Ventures, as quoted by Barron’s.
At the same time, there is still risk here.
If the US SEC turned around and said no to a BTC ETF, the crypto market would implode, leading us to short the miners and those companies with a massive amount of BTC on hand. We don’t think this will happen, but it is a risk to be very well aware of.