Here Are The Top Stocks Riding The Crypto Wave And ‘Dramatically’ Outperforming The Market

Here Are The Top Stocks Riding The Crypto Wave And ‘Dramatically’ Outperforming The Market

Share to Linkedin As cryptocurrencies rebound from a massive $300 billion flash crash this month, Goldman Sachs analysts have lasered in on a growing crop of publicly traded companies that are highly exposed to blockchain and cryptocurrencies and have "dramatically outperformed" the broader stock market as a result“”though not without a taste of crypto's unyielding volatility. Goldman Sachs' basket of 19 stocks“”each with a high level of blockchain exposure“”has returned an ... [+] average of 43% this year In a note to clients Tuesday morning, Goldman analysts identified 19 U. S. stocks with market capitalizations over $1 billion that have the highest blockchain and cryptocurrency exposure according to public disclosures and found that the companies have averaged a 43% return this year“”more than three times the S&P's 13% gain over the same period. The two biggest gainers in the group are crypto-mining companies that operate industrial-scale facilities to process crypto transactions and generate new tokens: Las Vegas-based Marathon Digital Holdings, up a staggering 218% year to date, and Colorado-based Riot Blockchain, up 151%. Big players dabbling in the space include Tesla, which invested $1. 5 billion in bitcoin last quarter before selling about $300 million, and Facebook, which is hoping