These publicly traded firms are pulling institutions into crypto
With increasing institutional capital flow into the crypto markets, publicly listed digital asset companies offer the best crypto gateway to institutional investors. Cryptocurrencies have quickly emerged as one of the hottest investment vehicles of the past decade, gaining traction first from retail traders, as seen in 2017, and now from institutional investors.From being a domain of bedroom coders to a growing financial sector with over $2 trillion in market capitalization, the crypto space has seen a sudden surge in value and continues to attract huge interest from investors. While....
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The merger could result in a valuation of the two firms at roughly $1.5 billion following a $150 million fundraising round from 10X Capital Venture. Prime Blockchain, also known as PrimeBlock, is reportedly preparing for a public offering in the United States through a special-purpose acquisition company, or SPAC. In a Thursday report, Bloomberg said Bitcoin (BTC) mining firm PrimeBlock is currently discussing going public in the U.S. through a merger with 10X Capital Venture Acquisition Corp II. Though the terms of the deal are reportedly not yet finalized, the merger could result in a....
Many stocks of publicly traded firms that are exposed to Bitcoin have suffered significant drawdowns this month. The fallout from this month’s violent crypto market meltdown appears to have flowed into the stock markets, with publicly listed firms with exposure to crypto assets seeing significant losses during May.The month saw Bitcoin (BTC) and other leading cryptocurrencies crash by at least 50%, with BTC plummeting from roughly $60,000 on May 10 to bounce off support at $30,000 last week.The largest publicly traded firm by number of BTC held in its reserves, MicroStrategy saw its share....
While Bitcoin is up 900% in the last 12 months, shares in the four largest publicly-traded mining firms are up 5,000% over the same period. Despite the top publicly-listed Bitcoin mining firms operating at losses, their share prices have dramatically outperformed BTC over the past 12 months.Appearing on CNBC, Fundstrat’s vice president of digital asset strategy, Leeor Shimron, shared his analysis into the market performance of the four-largest publicly-traded mining firms — Marathon Digital Holdings, Riot Blockchain, Hive Blockchain, and Hut 8, each of which represent a market cap of more....
The combined capitalization of publicly-traded crypto stocks surged from roughly $25 billion in January to around $100B today. The combined market cap of publicly-listed crypto firms has roughly quadrupled this year while the number of public digital asset firms has increased by 28% over the same period.A new report from CoinShares estimates that public “cryptocurrency pure play companies” were worth roughly $25 billion at the start of the year, with mining firms and financial service providers representing the lion’s share of value.While the report notes that 16 digital asset firms have....
As big players continue to enter the crypto space, institutions are becoming mega HODLers. Without a doubt, Bitcoin (BTC) has become an increasingly popular asset to own among institutional investors. By the end of the second quarter of 2020, Fidelity reported in a survey of almost 800 institutional investors that 36% owned crypto assets. A separate survey, conducted by crypto asset insurance company Evertas, shared that respondents believe hedge funds will increase their crypto holdings drastically. It also projected that 90% of institutional holders of crypto assets expect to invest even....