Bitcoin miners RIOT and MARA, along with MicroStrategy, saw significant stock increases this week

From Nasdaq and September 12, 2024 12:48:09 PM:

Shares of Bitcoin miners Riot Platforms (NASDAQ: RIOT) and MARA Holdings (NASDAQ: MARA) rose by roughly 10% and 17%, respectively, this week. MicroStrategy (NASDAQ: MSTR) also saw shares increase by roughly 15% after the release of important economic data and a presidential debate. Analysts predict Bitcoin could hit $125,000 by year-end if Trump wins or $75,000 if Harris wins.

Barclays analysts initiated coverage of MicroStrategy with an overweight rating, citing exposure to Bitcoin and prudent capital deployment. They see potential in the software business, predicting higher margins over time. With the market rebounding, lower interest rates could weaken the U.S. dollar, leading to strong performance in Bitcoin and related stocks like MicroStrategy and Bitcoin miners.

The Motley Fool Stock Advisor team did not recommend MicroStrategy as one of the top 10 stocks to buy now. However, their service has outperformed the S&P 500 since 2002, offering guidance on building a portfolio and providing regular stock picks. Investors are advised to consider all options before investing $1,000 in MicroStrategy or any other stock.

Read more at Nasdaq: Why Riot Platforms, MARA Holdings, and MicroStrategy Are Rising This Week