From Nasdaq:

Shiba Inu was a popular choice for crypto investors in 2023, with a 38% rise in value. However, other crypto stocks had much better returns last year, with Coinbase Global, Bitfarms, and Marathon Digital all quadrupling in value. This suggests that investing in these stocks may be a better choice for crypto investors than Shiba Inu.

Coinbase Global reported revenue of $674 million in its most recent quarter, representing a 14% year-over-year increase. It is close to breaking even and has announced expansion plans, making it a safer investment option than Shiba Inu for crypto investors.

Bitfarms, a Bitcoin mining company, had an incredible 518% rise in value last year. However, the company has posted losses over the past four quarters, making it a potentially volatile investment that is heavily reliant on the performance of Bitcoin.

Marathon Digital’s stock surged by 605% in 2023, making it one of the hottest crypto stocks. The company recently entered into an agreement to acquire Bitcoin mining sites, and it has impressive growth potential. However, it remains unprofitable and a risky investment.

Investors may be wary of buying Coinbase Global stock, as it was not identified as one of the 10 best stocks to buy by the Motley Fool Stock Advisor. The service has a track record of success, providing guidance on building a successful portfolio and delivering significant returns.

Author and analyst David Jagielski has no position in any of the stocks mentioned and advises caution. The views expressed are those of the author and not necessarily reflective of Nasdaq, Inc.



Read more: 3 Crypto Investments That Dwarfed Shiba Inu in 2023