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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. ....
R.Tsubin/Getty Images This story is available exclusively to Insider subscribers. Become an Insider and start reading now. 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. ....
Bitwise Asset Management This story is available exclusively to Insider subscribers. Become an Insider and start reading now. Matt Hougan is the chief investment officer of San Francisco-based Bitwise Asset Management, whose $542 million Bitwise 10 Crypto Index Fund (BITW) has returned 242% since its launch. Hougan and Bitwise researcher David Lawant break down five approaches to valuing bitcoin and cryptocurrencies in a new 64-page research brief published by the CFA Institute. Their research suggests that while there is no perfect way to value bitcoin, adding the digital asset to a traditional 60/40 portfolio has historically had a positive long-term impact on performance. After a blockbuster year during which it gained over 300%, bitcoin appears to be headed towards an even better outcome in 2021. ....