2 Cryptocurrency Stocks Wall Street Hates

There are several ways to profit from blockchain and the crypto space other than investing in cryptocurrencies directly. However, Riot Blockchain and Silvergate Capital, which offer such alternatives, are prone to fluctuations primarily due to their heavy dependence on bitcoin’s movements. This is why Wall Street analysts do not recommend these stocks. Let’s discuss.

In addition to investing directly in cryptocurrencies, there are several other ways investors can profit from the crypto space.  For instance, the shares of crypto mining companies and real-time digital currency exchange facilitators are highly popular options for some investors who want to benefit from  developments in the crypto space.

The current global shortage of ASIC mining equipment has held the current network-wide hash rate at lower levels, which has created a favorable environment for miners that operate at scale. This, coupled with a tweet by Elon Musk on Wednesday, in which he noted that Tesla will accept bitcoin as a form of payment, has garnered much attention from investors.

However, Wall Street analysts do not recommend cryptocurrency stocks that do not have diversified revenue sources and are highly dependent on the price movements of cryptocurrencies, given their high volatility.

Riot Blockchain, Inc. (RIOT) and Silvergate Capital Corporation (SI) are two such stocks that Wall Street analysts advise investors to approach with caution. One major concern with these companies is that their prices are largely reliant on the price of bitcoin and other digital currencies.

Riot Blockchain, Inc. 

RIOT is a digital currency mining company that is focused on building and supporting the Blockchain technologies ecosystem. The company, through its subsidiary TESS Inc., delivers  a blockchain-based escrow service for wholesale telecom carriers. The company is also involved in purchasing and selling digital currencies, and providing accounting, audit, and verification services for blockchain-based assets.

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Carl Schwartz 2 weeks ago Member's comment

PT of $40?????