Is Riot Blockchain (RIOT) a Good Buy Crypto Stock Now?

If you are watching the cryptocurrency rally from the sidelines and instead of looking into stocks that could benefit from the popularity of Bitcoin, then there are some options to consider.

One such option is Riot Blockchain (NASDAQ: RIOT), which is involved in the Bitcoin mining space. As long as the demand for cryptocurrency keeps rising, it could only be a good thing for the company and it has been reflected in Riot’s stock performance. The Riot Blockchain stock has been in the middle of a remarkable rally over the past 12 months and during that period, it has soared by as high as 11,000%.

While the company’s mining operations have proven to be the most important trigger behind the rally in the stock, it should also be noted that Riot has interests in decentralized finance as well. If Bitcoin proves hold then the company could continue to prosper and hence, it might be a good idea to keep an eye on the Riot stock at this point.