When most people think about becoming a crypto millionaire, they usually think about buying a single crypto like Bitcoin (CRYPTO: BTC) and then holding on to it as it delivers stratospheric returns. Over a long enough period of time, even a relatively small upfront investment could turn into $1 million or more. And, indeed, according to Henley Partners' Crypto Wealth Report, there are more than 40,000 Bitcoin millionaires in the world right now.

But here's another strategy that you might not have considered: buying crypto stocks that have the potential to outperform Bitcoin. This year, for example, Bitcoin is up more than 160%, but a number of crypto stocks are up 300% or more for the year. Here's a closer look at two crypto stocks that could help put you on the path to millionaire status.

Cryptocurrency exchange Coinbase Global (NASDAQ: COIN), up a sizzling 330% in 2023, could be one of the biggest beneficiaries of any extended Bitcoin rally in 2024. When Bitcoin is down, investor interest wanes. But when Bitcoin is up, investors suddenly decide to dip their toes into the crypto waters. So Bitcoin could be the key to bringing in new users and increasing overall trading volume.

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Source Fool.com