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.
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.
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