Forget Bitcoin: This Biotech Stock Is a Better Buy in 2021

Bitcoin and other cryptocurrencies are all the rage these days, and many investors are thinking of jumping on the bandwagon. Some Bitcoin optimists believe that it will replace fiat currency, that is, government-issued (or government-backed) currency whose value isn't linked to any commodity such as gold or silver.

The value of fiat currency is, roughly speaking, determined by the government. If Bitcoin ends up replacing this kind of money in the future, those who got on early would be sitting pretty. But Bitcoin itself isn't currently backed by any government or commodity. It is also very volatile, leading some investors to think it is best to stay as far away as possible.

The latter argument seems more convincing to me, and even for investors with a penchant for risk, I think there are much better options than Bitcoin (and other cryptos) on the stock market. One example is Axsome Therapeutics (NASDAQ: AXSM). This clinical-stage biotech has several exciting pipeline candidates that could help it deliver excellent financial results and solid returns in the future.

Source Fool.com