HomeMarket NewsInvesting 101: Cryptocurrency Bulls and AI Stocks Clash in 2023

Investing 101: Cryptocurrency Bulls and AI Stocks Clash in 2023

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BTC Vs SHIB Vs Super Micro Computer

The clash of the titans between the ever-volatile cryptocurrency market and the soaring stocks associated with artificial intelligence has left investors pondering their next move. The investment landscape has been a rollercoaster ride, with both Bitcoin pioneers and alternative coin enthusiasts finding themselves at odds with those favoring AI ventures.

But what has triggered this sudden shift towards embracing risk once more?

Setting the Stage: The financial markets endured a tumultuous journey in 2022, as most assets faced a downward spiral amidst rising global inflation and caution from central banks. Scandals and regulatory anxieties only added fuel to the fire, driving investors towards safer harbors in the storm.

Rise of Cryptocurrency:Β The saga continued into 2023, as the crypto community emerged from the frost of winter with renewed hope. Bitcoin, after a lackluster start, paved its way to glory in the latter half, stealing the spotlight with a remarkable surge of over 155%, crowned as one of the top performers for the year. This resurgence was largely attributed to the anticipation surrounding the launch of a spot Bitcoin ETF.

While the initial reaction to the approval of spot Bitcoin ETFs in January was tepid, the crypto market gradually picked up steam as February unfolded.

Source: Benzinga Pro

Shiba Inu Drama:Β On the flip side, Shiba Inu faced a lackluster performance through most of 2023, meandering in a rut until a sudden breakthrough in mid-February breathed new life into the meme coin.

See Also:Β How To Buy Bitcoin (BTC)

Follow the Money: As various financial options displayed explosive growth, let’s turn the spotlight on the returns from a hypothetical $1,000 investment in a few prime choices at the close of 2023:

  • Bitcoin:Β Placing $1,000 in Bitcoin at year-end would have netted 0.024 bitcoins, equivalent to $1,617 at Monday’s closing rate – a hefty 61.7% return over two months.
  • SHIB:Β A $1,000 investment in SHIB as 2023 drew to a close would have snagged a cool 100 million SHIB tokens, presently valued at $3,600 based on Monday’s close – a whopping 260% return.
  • Super Micro Computer SMCI:Β Deploying $1,000 into SMCI on December 29, 2023, would have secured 3.52 shares now valued at $3,780 based on Monday’s close – marking a significant 278% return.

Notably, Super Micro Computer, an AI powerhouse, outshone both cryptocurrencies during this bi-monthly sprint.

Current Market Check-in (as per Benzinga Pro data):

  • Bitcoin: Up 5.97% at $67,457.26
  • SHIB: Marked a 49.63% surge to $0.000041
  • Super Micro Computer: Climbed 18.65% to $1,074.34, buoyed by the news of its S&P 500 inclusion.

Read Next: Stocks Stall, Magnificent 7 Crack As Apple, Tesla And Google Face Headwinds; Bitcoin, Gold Eye Record Highs: What’s Driving Markets Monday?

Image via Shutterstock

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