(NYSE: GS), Morgan Stanley (NYSE: MS), JPMorgan Chase & Co. This trend has forced conventional banks, hedge fund, investment companies like Goldman Sachs Group, Inc. (NYSE: SQ) throw their weight behind cryptocurrency, the entire world pays attention, boosting the trust in bitcoin, ETH and other cryptocurrencies and platforms. When companies like PayPal Holdings, Inc.
(NYSE: SQ ) providing crypto trading services, and Mastercard Incorporated (NYSE: MA ) becoming the first credit card to deliver digital currency “rewards” on transactions. Bitcoin investing is becoming more popular, with companies like PayPal Holdings, Inc. Investing in bitcoin stocks is a brilliant idea if you want to gain direct exposure to the digital currency market and the projects or businesses that operate their business with Bitcoin. Should You Invest in Bitcoin Stocks?īitcoin has gained momentum to challenge gold as a store-of-value investment because, like gold, it is a shield against currency depreciation and uncertainty. (NYSE: JPM ) plans to deliver an actively managed bitcoin fund to a select group of investors, which may happen as early as this summer. (NYSE: GS ) and Morgan Stanley (NYSE: MS ) seek to roll out bitcoin investment products to their high-net-worth clients. Wall Street titans like The Goldman Sachs Group, Inc. (NASDAQ: TSLA ) had approximately $2.5 billion worth of bitcoin. As of the end of March, American EV behemoth Tesla, Inc. However, bitcoin’s price bounced back from the downturn, and it appears that the crypto’s market framework has remained unchanged, at least for the time being, with Bitcoin trading at above $58,000 as of May 3.īitcoin’s price has already doubled since the beginning of the year, as mainstream investors have flocked to cryptocurrencies. The world’s largest digital currency by market value soared to more than $64,000 on April 14 before plummeting to around $48,000 in the fourth week of the month.
Bitcoin is gaining momentum as the global economy recovers due to increasing consumer market demand.
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