From Nasdaq: 2024-05-17 16:32:46

Bitcoin experienced a 10.1% jump this week, driven by a resurgence in risk-taking after geopolitical uncertainties. Leveraged Bitcoin players like MicroStrategy, Marathon Digital, Riot Platforms, and Hut 8 saw significant gains. Companies leveraged to Bitcoin benefit as the token rises, making it a balancing act for investors.

Despite recent gains, concerns linger about the sustainability of Bitcoin’s rally. With the market overlooking weakening fundamentals, the economy shows signs of strain. Billion-dollar inflows into the crypto space from approved crypto ETFs and increased trading may not last, making Bitcoin a risky investment choice for now, according to some analysts.

Stock Advisor does not recommend investing in Bitcoin, highlighting ten other stocks with potentially higher returns. Nvidia, which made the list in 2005, has shown massive returns. The Stock Advisor service has outperformed the S&P 500 since 2002, offering expert guidance on portfolio building and monthly stock picks.

Travis Hoium, author of the article, does not hold positions in the mentioned stocks. The Motley Fool discloses its positions in and recommendations for Bitcoin. The views expressed are solely the author’s and not Nasdaq, Inc.’s.

Read more at Nasdaq: Bitcoin and Crypto Stocks Popped Again This Week