Was Jim Cramer Right About Preferring Bitcoin Over Riot Platforms (RIOT)?

We recently published a list of Jim Cramer Nailed These 11 Stock Predictions. In this article, we are going to take a look at where Riot Platforms, Inc. (NASDAQ:RIOT) stands against other stocks that Jim Cramer discusses.

When asked whether Riot Platforms, Inc. (NASDAQ:RIOT) was worth buying amid a dip in Bitcoin miners, Cramer dismissed the idea entirely. He made clear in that older episode that he preferred simpler exposure to crypto:

“If we’re going to be in that, we’re just going to go buy Bitcoin or go buy Ethereum. Either one is fine with me.”

Great call. The bitcoin miner is down -6.42% since while Bitcoin has risen significantly since then.

Riot Platforms Inc. (NASDAQ:RIOT) is a Bitcoin mining company that operates large-scale data centers powered by renewable energy sources to mine and secure the Bitcoin blockchain.

Was Jim Cramer Right About Preferring Bitcoin Over Riot Platforms (RIOT)?

A computer engineer working in a futuristic office, programming algorithms to mine cryptocurrency.

Cramer remains sceptical about Bitcoin miners. Here’s what he said about the stock on January 3:

“Okay, well, Riot Platforms, I have to go to my chief scientist Ben Stoto on that. He points out that it’s a Bitcoin miner and can you get a better business than mining Bitcoin?”

Overall, RIOT ranks 11th on our list of stocks that Jim Cramer discusses. While we acknowledge the potential of RIOT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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