The boom in cryptocurrencies is creating enormous opportunities for tech and finance companies.
Wedbush Securities shares 5 stocks of companies that are attracting this new market opportunity.
It also highlights an altcoin that could double its valuation over the next 12 to 18 months.
Back in 2013, Wedbush Securities was the first Wall Street brokerage to issue a research report about bitcoin and its underlying blockchain technology.
The company said the digital token could rise to as much as $98,500 from around $1,200 back then and described it as a potentially game-changing disruption to the payments companies under its coverage. In 2014, it also became the first US financial institution to accept payments in bitcoin.
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Norwegian tycoon Kjell Inge Rokke recently joined a growing list of billionaires to embrace bitcoin.
In a 23-page shareholder letter, Rokke breaks down his three-fold bitcoin investing strategy.
He details why he sees bitcoin as a solution instead of a problem for its perceived challenges.
Yet another billionaire has jumped on the bitcoin bandwagon. This time, it s Norwegian tycoon Kjell Inge Rokke.
Rokke is the chairman of the $6 billion industrial conglomerate Aker ASA, which has ownership interests in oil and gas, renewable energy, maritime assets, industrial software, and more.
Tradecraft Capital
Jake Ryan is the chief investment officer of crypto asset hedge fund Tradecraft Capital.
Ryan thinks bitcoin will have a market cap of $5 trillion by 2023 and $20 trillion by 2030.
He also shares two emerging areas of the crypto-asset market that he s bullish on.
Having spent the first 20 years of his career in software development, Jake Ryan has had no difficulty wrapping his head around the world of cryptocurrency and blockchain technology.
Still, it took him more than seven years since bitcoin s creation in January 2009 to make his first direct purchase of the digital currency at around $480 apiece in 2016.
What convinced him to finally make the leap was not the utopian vision for bitcoin shared by many ardent fans in the tech world, but the antifragile nature of the digital currency.
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After breaching a record-high of $58,000 last Sunday, bitcoin slid to $47,000 on Friday.
Despite regulatory uncertainty, three CEOs of money managers are still bullish.
They explain why bitcoin is still in its early stages and set to mature into a gold-like market cap.
Is bitcoin entering a bear market ?
After the digital currency slid from its record high of $58,000 last Sunday to $47,000 as of Friday afternoon, its biggest weekly loss since a 33.5% decline last March, some skeptics are saying bitcoin is on the verge of falling into, if not already, in a bear market.