In this article, we discuss the 12 Best Bitcoin Stocks To Buy According To Billionaires.
Bitcoin was the top-performing asset of 2024, driven by the launch of new ETFs and optimism about potential deregulation under a new US administration. However, the cryptocurrency remained volatile, with significant price swings throughout the year. By the end of 2024, Bitcoin had more than doubled in value from its starting price of around $40,000, reaching nearly $94,000, according to a report by CNBC. The most significant surge occurred in the weeks following the US presidential election. By mid-December, Bitcoin surpassed $108,000 for the first time, fueled by expectations that President Donald Trump’s victory over former VP Kamala Harris would lead to clearer regulations and increased investment in the crypto space.
One of the main factors influencing Bitcoin’s price movements is the halving mechanism, a fundamental feature of its network. Bitcoin halving is a built-in mechanism in the Bitcoin network that reduces the rewards miners receive for processing transactions and adding new blocks to the blockchain. This event occurs roughly every four years, or after 210,000 blocks are mined, gradually slowing the introduction of new bitcoins into circulation. Its main purpose is to regulate Bitcoin’s supply, ensuring it remains limited to a maximum of 21 million coins. Halving can influence Bitcoin’s value by reducing the number of new coins entering the market. The first halving took place on November 28, 2012, cutting the block reward from 50 to 25 bitcoins. This was followed by a significant price increase, a trend observed in later halvings. The most recent halving occurred on April 20, 2024, at block 740,000, reducing the reward from 6.25 BTC to 3.125 BTC. Historically, halvings have been linked to price increases as the reduced supply can boost demand. This scarcity strengthens Bitcoin’s role as a digital store of value, often compared to gold. Additionally, market anticipation around halving events tends to drive investor interest and trading activity, further impacting Bitcoin’s price.
Bitcoin’s growing influence is also reflected in broader financial markets and institutional investment trends. By the end of 2024, global investable assets surpassed $200 trillion, with cryptocurrencies accounting for over $3 trillion, or 1.5% of the market. Institutional investors increasingly embraced Bitcoin exchange-traded products (ETPs), with inflows surpassing $34 billion as Bitcoin gained wider acceptance in multi-asset portfolios. Bitcoin has solidified its status as both a benchmark for the crypto market and a measure of investor risk appetite. Its fixed supply and decentralized structure set it apart from traditional investments, making it an alternative growth asset in today’s changing economic environment. This view is further supported by the US proposal to classify Bitcoin as a strategic reserve asset. The proposal comes as the US faces rising debt and borrowing costs. President Trump’s “America First” policies which combine tax cuts and tariffs could add to inflation concerns, which are already evident in bond markets, where 30-year yields neared 5% in early 2025.
Despite the cryptocurrency sector’s volatility, some billionaire investors remain optimistic about its future. Michael Saylor, executive chairman of a leading business intelligence firm, was the top crypto billionaire gainer by percentage on Forbes‘ 2024 list. The software company he founded in the 1990s has since transformed into a major Bitcoin investment entity. By 2024, it held approximately 193,000 bitcoins, making it the largest corporate bitcoin holder globally, according to its CFO. Tech billionaire Mark Cuban is also investing in crypto. He believes its value could rise as adoption increases and it becomes more integrated into the global financial system. In fact, he has even speculated that it could one day replace the US dollar as the world’s reserve currency. With this market outlook in mind, let’s take a look at the best bitcoin stocks to buy according to billionaires.
Our Methodology
To collect data for this article, we scanned Insider Monkey’s database of billionaires’ stock holdings and picked the top 12 companies operating in the cryptocurrency industry with the highest number of billionaire investors in Q4 of 2024. The stocks are ranked in ascending order based on the number of billionaire investors.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
12. MARA Holdings, Inc. (NASDAQ:MARA)
Number of Billionaire Investors: 3
MARA Holdings, Inc. (NASDAQ:MARA) is an American digital asset technology company that develops solutions to enhance data center operations, including liquid immersion cooling and firmware for bitcoin mining. MARA is one of the best bitcoin stocks to invest in.
On February 18, MARA Holdings, Inc. (NASDAQ:MARA) announced the completion of its previously disclosed acquisition of a wind farm in Hansford County, Texas. The facility has 240 megawatts of interconnection capacity and 114 megawatts of wind power. It will be used to operate older-generation ASIC mining hardware that would have otherwise been retired or sold.
MARA Holdings, Inc. (NASDAQ:MARA) achieved record revenue, net income, and adjusted EBITDA for Q4 and full year 2024. Q4 revenue rose 37% year-over-year to $214.4 million, while full-year revenue increased 69% to $656.4 million. Net income more than doubled, reaching $541 million, up 107% from the previous year. Adjusted EBITDA for 2024 climbed to $1.2 billion, compared to $417.1 million in 2023. The firm’s direct energy cost per bitcoin stood at $28,801, with an average electricity cost of $0.039 per kilowatt-hour at its own facilities.
On March 13, JPMorgan maintained its Neutral rating on MARA Holdings, Inc. (NASDAQ:MARA) and lowered its price target from $23 to $18. Despite this, the stock edged up 0.5%, closing at $13.14.
11. Bit Digital, Inc. (NASDAQ:BTBT)
Number of Billionaire Investors: 3
Bit Digital, Inc. (NASDAQ:BTBT), a New York-based company, focuses on bitcoin mining, treasury management, digital asset staking, and Ethereum staking. It is one of the best bitcoin stocks to monitor. On February 10, the company announced a colocation agreement with a major AI hardware firm. The partnership will be managed through WhiteFiber, Inc., its rebranded high-performance computing division, which offers cloud services and operates the Enovum Data Centers platform.
In the third quarter of 2024, Bit Digital, Inc. (NASDAQ:BTBT) reported a revenue of $22.7 million, a 96% increase from the previous year. This growth was driven by contributions from its high-performance computing business, though partially offset by lower mining revenue. As of September 30, 2024, the company held approximately $106 million in cash and restricted cash, while its digital assets were valued at around $118 million. By the end of the third quarter, total assets stood at $376 million, with shareholders’ equity reaching $315 million.
On January 21, Craig-Hallum began coverage of Bit Digital, Inc. (NASDAQ:BTBT) with a Buy rating and a price target of $6. Analysts at the firm view Bit Digital as being in the early stages of a major transformation, one that could pave the way for a more stable and profitable business model.
10. Bitfarms Ltd. (NASDAQ:BITF)
Number of Billionaire Investors: 4
Bitfarms Ltd. (NASDAQ:BITF) mines cryptocurrencies in the United States, Paraguay, Canada, and Argentina. The company runs server farms that process Bitcoin blockchain transactions, earning revenue through block rewards and transaction fees. On January 31, the company announced that it has partnered with Appleby Strategy Group and World Wide Technology, two experts in High Performance Computing (HPC) strategy and AI. They will assess the feasibility of Bitfarms’ North American sites and advise on its global HPC and AI strategy. Additionally, they will help develop sales strategies and market the sites to potential clients.
In Q3 2024, Bitfarms Ltd. (NASDAQ:BITF) mined 703 bitcoins, a 14% increase from the 614 bitcoins produced in the previous quarter. This growth was fueled by a 54% rise in average hash rate, which climbed from 6.7 exahash in Q2 to 10.3 exahash in Q3. Revenue for the quarter reached $45 million, up $3 million from Q2 and 30% higher year-over-year. As of September 30, the company had $146 million in total liquidity, including $73 million in cash and $73 million in bitcoin. Their increased BTC holdings reflect a strong cash position and steady operational cash flow.
In the fourth quarter of 2024, 4 billionaires owned Bitfarms Ltd. (NASDAQ:BITF), placing it among the best bitcoin stocks on Wall Street.
