Bitcoin’s bounce in the past few days has apparently renewed investor confidence in the blockchain technology. The world’s largest cryptocurrency by market cap, BTC, breached the $12,000 mark after a gap of one-and-a-half months, basking on the limelight offered by Facebook’s (NASDAQ: FB) new cryptocurrency Libra as well as the fast approaching “halving events” of various digital currencies.
For those who are not aware, halving events are occasions when the rewards offered to crypto miners are halved, which in turn, decreases supply and raises the valuation of the asset. Bitcoin’s halving event is set for early next year, while the one for Litecoin is expected around early August this year.
Separately, four out of 10 millennial investors are projected to jump into cryptocurrencies in the event of a market downturn, according to a report from Crypto Head. This gives all the more reason to keep track of these stocks.
Since the start of this year, BTC has soared over 200% and is currently trading at $12,867. The renewed optimism in digital currency has resonated among crypto-related securities as well. Here are a few.
Grayscale Investment Trust (GBTC)
The trust, earlier known as Bitcoin investment trust, operated by Grayscale Investments, offers the best mechanism to trade bitcoins in a more secure platform of a stock exchange.
Riot Blockchain Inc (RIOT)
Riot Blockchain is focused on building and operating blockchain technologies. Its primary operations include cryptocurrency mining, targeted development of a cryptocurrency exchange, and the identification and support of innovations within the sector.
Marathon Patent Group (MARA)
Marathon is a digital asset technology company that mines cryptocurrencies, with a focus on the blockchain ecosystem and the generation of digital assets. It currently operates one mining facility in Quebec, with plans to open additional facilities in the future.
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