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Riot Platforms (RIOT) Loses 14.7% as Bitcoin Nosedives

We recently published 10 Big Names, Bigger Losses. Riot Platforms Inc. (NASDAQ:RIOT) was one of the worst performers on Thursday.

Riot Platforms fell by 14.71 percent on Thursday to close at $12.06 apiece, tracking the marked decline in Bitcoin prices amid the Treasury Department’s inability to bail out the crypto industry, alongside a caution from a notable investor that any further fall could evolve into a death spiral.

Riot Platforms Inc. (NASDAQ:RIOT) declined alongside its peers, namely Strategy Inc., Galaxy Digital, Hut 8 Corp., and MARA Holdings, among others, after the Treasury Secretary signaled that the government does not have the authority to step in to support the cryptocurrency market or buy Bitcoins and other cryptocurrencies.

When asked by the House Financial Services Committee, Bessent said: “I do not have the authority to do that. And as chair of FSOC (Financial Stability Oversight Council), I do not have that authority.”

Prices of Bitcoin fell to as low as $62,000 following the news.

Sentiment was further dragged by a caution from Michael Burry, an investor who predicted the 2008 financial crisis, that any decline in Bitcoin prices to the $50,000 level could put Bitcoin miners into bankruptcy.

Since soaring to an all-time high of $126,000, Bitcoin’s latest closing price already showed a 50.8 percent drop.

Meanwhile, Riot Platforms Inc. (NASDAQ:RIOT) announced last month that it was able to produce 460 Bitcoins in December, or 8 percent higher than the 428 in November, but was 11 percent lower than in December 2024.

As of the end of last year, Riot Platforms Inc. (NASDAQ:RIOT) owned a total of 18,005 Bitcoins.

While we acknowledge the risk and potential of RIOT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than RIOT and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.

The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.

It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

How could anything be worth that much?

The answer lies in a breakthrough so powerful it’s redefining how humanity works, learns, and creates.

And this breakthrough has already set off a frenzy among hedge funds and Wall Street’s top investors.

What most investors don’t realize is that one under-owned company holds the key to this $250 trillion revolution.

In fact, Verge argues this company’s supercheap AI technology should concern rivals.

Before I reveal the details, let’s talk about how some of the richest people on the planet are positioning themselves.

  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

Even as we admire what Tesla, Nvidia, Alphabet, and Microsoft have built, we believe an even greater opportunity lies elsewhere…

But the real story isn’t Nvidia — it’s a much smaller company quietly improving the critical technology that makes this entire revolution possible.

And judging by what I’m hearing from both Silicon Valley insiders and Wall Street veterans…

This prediction might not be bold at all:

A few years from now, you’ll wish you’d owned this stock.

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