In 2023, crypto enthusiasts found more profitable investments in the stock market.
Despite Bitcoin’s impressive 150% rally throughout the year, certain stocks closely associated with the digital currency outperformed it by a significant margin. Shares of companies like Coinbase, MicroStrategy, and the Grayscale Bitcoin Trust saw gains of over 300%. Marathon Digital, a Bitcoin miner, saw an astounding surge of 688%.
These stocks not only surpassed Bitcoin itself in performance but also emerged as some of the top gainers in the entire U.S. market. Among publicly traded U.S. businesses valued at least $5 billion, these four stocks tied to Bitcoin were among the eight best performers, according to FactSet data.