Bitcoin News and Finance
Goldman Sachs Lists 19 ‘Crypto’ Stocks That Crushed S&P 500 Thanks to Bitcoin’s Surge Skip to main content

Goldman Sachs Lists 19 ‘Crypto’ Stocks That Crushed S&P 500 Thanks to Bitcoin’s Surge

Goldman Sachs Lists 19 Large-Cap 'Crypto' Stocks That Crushed S&P500 Thanks to Bitcoin's Surge

Investment bank Goldman Sachs has compiled a list of 19 large-cap stocks with cryptocurrency exposure that have massively outperformed the S&P 500. “On average, these stocks have dramatically outperformed the S&P 500 during the last several months alongside the surge in the price of bitcoin,” the firm wrote.

19 Stocks With Crypto Exposure That Outperformed S&P500

Goldman Sachs released a research note last week listing 19 large-cap U.S. stocks with blockchain and cryptocurrency exposure that outperformed the S&P 500.

Ben Snider, the bank’s strategist and managing director, said: “Our screen yields 19 stocks with market caps greater than $1 billion … On average, these stocks have outperformed the S&P 500 by 34 percentage points year to date (+46% vs. +12%).” He noted that during the same time period, the price of bitcoin rose by 86% and Bloomberg Galaxy Crypto Index increased 156%.

The Goldman Sachs strategist elaborated:

On average, these stocks have dramatically outperformed the S&P 500 during the last several months alongside the surge in the price of bitcoin.

The stocks on Goldman’s list are Marathon Digital Holdings; Riot Blockchain; Microstrategy, Class A; Silvergate Capital Corp., Class A; Square, Class A; Paypal Holdings; Overstock; Nvidia; Investview; Ideanomics; Tesla; JPMorgan Chase; Visa, Class A; Bank of New York Mellon Corporation; Facebook, Class A; Mastercard, Class A; Broadridge Financial Solutions; IBM; and Coinbase, Class A.

Goldman Sachs Lists 19 'Crypto' Stocks That Crushed S&P 500 Thanks to Bitcoin's Surge

The analysts at Goldman Sachs used a three-pronged strategy to find these stocks. The first is a “Text search,” in which the firm looked for keywords such as “blockchain” and “cryptocurrency” in company filings, earnings calls, presentations, and news articles over the past 12 months.

Secondly, the firm used “Regression beta analysis” to test for regression beta of these company share prices relative to bitcoin, or how much the shares moved if the price of bitcoin moved. Lastly, the firm examined the inclusion in 3rd party blockchain indexes and exchange-traded funds (ETFs).

Meanwhile, Goldman Sachs has brought back its bitcoin trading desk and will be launching a “full spectrum” of crypto investment products. In March, the firm reported seeing huge institutional demand for BTC. CEO David Solomon said early this month that he expects a “big evolution” coming to cryptocurrency regulation.

What do you think about Goldman Sachs’ list of crypto stocks that outperformed the S&P 500? Let us know in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Post a Comment
Read more
Blogarama - Blog Directory