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Past Performance - The Riot Blockchain Inc. Story
Buy Advice
3rd Dec, 20 @ $9.22
Sell Advice
2nd Mar, 21 @ $51.37
Symbol
RIOT (NASDAQ)
The Riot Blockchain Inc. (RIOT) Story
In the volatile world of cryptocurrencies, few traditional entities have managed to capture the market's roller-coaster dynamics as effectively as Riot Blockchain Inc. Between 2020 and 2021, this American-based company witnessed a dramatic surge in its stock value, closely mirroring the broader trends in the cryptocurrency domain.
Driving Forces Behind Riot's Stock Momentum:
Bitcoin's Bull Run: Riot Blockchain's core business revolves around Bitcoin mining. As the price of Bitcoin soared to new heights in late 2020 and early 2021, reaching an all-time peak of just below $65,000 in April 2021, Riot's stock naturally benefitted from this uptrend.
Increased Mining Capacity: During this period, Riot aggressively expanded its mining operations, investing in more efficient, next-generation miners. This ramped-up capacity ensured that Riot was well-positioned to capitalize on Bitcoin's bullish momentum.
Mainstream Crypto Acceptance: 2020 and 2021 marked significant years for broader cryptocurrency acceptance. Major financial institutions began offering crypto services, and companies like Tesla announced Bitcoin investments. This wider acceptance boosted crypto-related stocks, including Riot's.
Positive Financial Reports: Riot Blockchain reported a series of positive financial results, indicating increased revenues from their expanded mining operations.
Speculative Nature of Crypto Stocks: Given the nascent and volatile nature of the crypto market, stocks related to this industry, like Riot, tend to experience heightened volatility. The optimism around Bitcoin's future during this period contributed to speculative investments in associated stocks.
From 2020 to 2021, Riot Blockchain's stock saw an incredible ascent, reflecting the growing interest and belief in the potential of Bitcoin and the broader crypto market. While the crypto landscape is inherently unpredictable, Riot's performance during this window underscored the increasing entwining of traditional financial markets with the decentralized world of cryptocurrencies.
The Final Outcome
During the 89-day period, Asset Knight Partners Ltd clients received an average net return of 457.158% on their investment.
