4 Crypto Stocks to Ride Bitcoin's Bullish Surge to New Highs
Bitcoin has reached a new all-time high, surpassing $111,000.
Several crypto-related stocks may gain in the short term from Bitcoin's rise.
But are all of these stocks still good investments?
Looking for actionable trade ideas to navigate the current market volatility? Subscribe here to unlock access to InvestingPro's AI-selected stock winners.
After months of waiting, Bitcoin has finally hit new record highs, reaching about $111,900.
BTC/USD first hit a high of $109,874 in the late afternoon, then dropped to $106,200 an hour later, before climbing again to reach today's new peak.
Many analysts believe this sudden rise is due to growing concerns about the US Dollar and government debt. Last Friday, Moody's downgraded the US credit rating, which triggered a wave of doubt in the market.
With President Donald Trump pushing for big spending and tax cuts, there is little hope that the situation will improve soon.
This uncertainty is showing up in rising US interest rates and a falling Dollar Index—a rare combination that signals declining trust in the US economy.
So, Bitcoin is rising not because investors feel hopeful, but because the current instability is making it look more like a safe-haven asset. More companies are now treating Bitcoin as a long-term store of value and adding it to their balance sheets.
However, the cautious tone in the broader stock market is unlikely to stop several crypto-related stocks from reacting positively to Bitcoin's new all-time high during Thursday's session.
Strategy (NASDAQ:MSTR)(ex-MicroStrategy), Coinbase (NASDAQ:COIN), Riot Platforms (NASDAQ:RIOT), and Marathon Digital (NASDAQ:MARA) all posted gains in after-hours trading on Wednesday and will be worth watching closely on Thursday.
That said, these stocks are not necessarily the top picks in the tech sector right now. In fact, we have grouped them into an InvestingPro watchlist, which currently shows a mixed outlook.
Indeed, according to InvestingPro's Fair Value—which combines several well-known financial models—most of these stocks appear overvalued, with the exception of Riot Platforms.
For instance, Coinbase is currently overvalued by nearly 25% based on its Fair Value estimate.
Meanwhile, Marathon Digital, Riot Platforms, and MicroStrategy all have below-average health scores.
On the brighter side, analysts' price targets suggest strong upside potential for Riot Platforms (+69.7%) and MicroStrategy (+38.3%).
Overall, while these stocks offer a way to gain exposure to Bitcoin through the stock market, investors should keep in mind that ETFs now offer a more direct route—and may want to explore other opportunities in the tech sector as well.
This AI's technology stock picks sparkle in May
In this context, it is worth noting that InvestingPro subscribers have already seen solid gains this month from several tech stocks highlighted in the May edition of the Tech Titans strategy, managed by Investing.com.
In fact, out of the 15 stocks tracked by this strategy since the start of the month, 13 have gained over the past three weeks, while the two that declined posted only minor losses.
In addition, no fewer than 6 stocks in the portfolio have delivered double-digit gains since the beginning of the month: +10.3%, +10.5%, +15.3%, +18.9%, +20.3% and +28.9%.
However, several of the stocks identified earlier this month in the Tech Titans strategy still show strong upside potential heading into the final days of the month.
Then, on June 1, the strategy will reassess an updated list of stocks for the new month—some will be removed from the portfolio, while new ones will be added.
It is also worth noting that May is not the first month the Tech Titans strategy has significantly outperformed the market, as its historical performance clearly shows:
Also note that the Tech Titans strategy is available to InvestingPro subscribers along with more than 30 other thematic and regional strategies, all managed by Investing.com.ProPicks AI: AI-selected stock winners with a proven track record.
InvestingPro Fair Value: Instantly find out if a stock is underpriced or overvalued.
Advanced Stock Screener: Search for the best stocks based on hundreds of selected filters and criteria.
Top Ideas: See what stocks billionaire investors such as Warren Buffett, Michael Burry, and George Soros are buying.
****Disclaimer: This article is written for informational purposes only; it does not constitute a solicitation, offer, advice, counseling or recommendation to invest as such it is not intended to incentivize the purchase of assets in any way. I would like to remind you that any type of asset, is evaluated from multiple points of view and is highly risky and therefore, any investment decision and the associated risk remains with the investor."
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