May 11, 2021
Goldman Sachs released a key report to its clients this week detailing the best market outperformance strategy in some time. Stocks with a market capitalization of over $1 billion with significant exposure to blockchain or crypto have highly outpaced the market. Their return YTD of 43% is almost 3x the S&P 500 13%. In mining, Marathon Digital Holdings and Riot Blockchain were the biggest winners, but mainstream firms like Tesla opened their doors to the digital currency this year as well. Finally, fintech giants like Paypal and Square are innovating in the space paving a crypto path for integrating it into their platforms. The larger theme is not predicting bitcoin’s future value but recognizing how the digital currency places itself in the corporate world.
(New York)
FINSUM + Magnifi: Crypto is volatility on steroids, but exposure through large caps may be the best way to get in on blockchain with a little additional security.
Other news today: Munis are Red Hot, Will They Stay That Way? and Chinese Manufacturing Booms with Global Demand
{{cta(‘031ca73e-408c-41ef-9886-bfe7cd5553d7’)}}
Magnifi is changing the way we shop for investments, with the world’s first semantic search engine for finance that helps users discover, compare and buy investment products such as ETFs, mutual funds and stocks. As of May 2021, 350,000+ users with $500+ Billion in Assets Under Influence, have used Magnifi over 2,000,000 times. Try it for yourself today.
This blog is sponsored by Magnifi. The information and data are as of the publish date unless otherwise noted and subject to change. This material is provided for informational purposes only and should not be construed as individualized investment advice or an offer or solicitation to buy or sell securities tailored to your needs. This information covers investment and market activity, industry or sector trends, or other broad-based economic or market conditions and should not be construed as investment research or advice. Investors are urged to consult with their financial advisors before buying or selling any securities. Although certain information has been obtained from sources believed to be reliable, we do not guarantee its accuracy, completeness or fairness. Past performance is no guarantee of future results. This content may not be reproduced or distributed to any person in whole or in part without the prior written consent of Magnifi. [As a technology company, Magnifi provides access to tools and will be compensated for providing such access. Magnifi does not provide brokerage or custody services.]
