The entire hedge fund industry is feeling the reverberations of the changing financial landscape. (NYSE: SQ) in recent months.Ĭryptocurrencies have also spearheaded the rise of fintech, a disruptor in the finance world that even established institutions have struggled to cope with. However, despite the bear market, hedge funds have been piling into crypto stocks like Coinbase Global, Inc.
(NYSE: SQ ) also pulled back from record highs, fueling speculation around the future of cryptocurrencies. As Bitcoin fell, other crypto-related stocks, like Coinbase Global, Inc. (NASDAQ: TSLA) is one of the largest institutional backers of Bitcoin, the public criticism has battered the cryptocurrency. (NASDAQ: TSLA ) chief Elon Musk has been one of the most powerful voices on the issue on social media. The cryptocurrency has been hit in recent weeks by criticism on energy intensive mining methods and a regulatory crackdown in China. Nayib Bukele, the 39-year-old president of the country, supported the tender and has argued that the cryptocurrency will jumpstart the economy, help with remittance transfers, and improve the banking penetration rate in the country.īitcoin, which had fallen to below $30,000 in April, rallied after the bill regarding the mainstreaming of the coin was approved by lawmakers, climbing to around $38,000, but was still far below the record $64,000 touched before the freefall started two months ago.
If you want to skip our detailed analysis of these stocks, go directly to the 5 Best Cryptocurrency Stocks to Invest in 2021.īitcoin, the most popular cryptocurrency in the world that has registered a sharp decrease in price over the past few weeks, was given a much needed boost on June 9 after El Salvador became the first country in the world to adopt the coin as legal tender. In this article we discuss the 12 best cryptocurrency stocks to invest in 2021.