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•Crypto stocks have higher return rates.
•The top two companies on the list have a massive gain of 218%.
•Cryptocurrency has a very big influence on corporate companies.
The financial banking giant Goldman Sachs has revealed a list of stocks that are closely related to cryptocurrency. Apparently, these stocks have outperformed the S&P 500.
The Stocks Have a Market Capitalization of Over $1 Billion
As per CoinTelegraph, the company has called attention to 19 different stocks from the United States that had a market capitalization of over $1 billion. All the stocks had one thing in common: they were somehow related to either cryptocurrency or blockchain industry. Leading the list of stocks were the two cryptocurrency mining companies, Marathon Digital Holdings and Riot Blockchain. They had a yearly gain of 218% and 151%, respectively.
The Stocks Have Three Times More Return Rates than S&P 500
Analysts from Goldman Sachs pondered over the fact that these stocks have drastically outperformed the most conventional stocks. On average, these stocks have a return rate of 43% this year, which is almost three times the return rate of the S&P 500, that is, 13% over the same time.
Again the stock price of MicroStrategy, a corporate company that supports bitcoin, soared back in April, just before BTC went at an all-time high of $65000. It is estimated that a total of $4.5 billion of BTC is held by the company.
This signifies that the influence of bitcoin or rather cryptocurrency in the corporate world is tremendous. Back in February, Tesla, the tech giant, bought Bitcoin’s worth $1.5 billion.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
