March 28, 2024

Goldman Sachs estimates that blockchain stocks outperform the S&P 500 on average.

Goldman Sachs estimates that blockchain stocks outperform the S&P 500 on average.

According to a new report from one of the largestin the investment banking world, blockchain and cryptocurrency stocks are outperforming the Standard & Poor's 500 by 34 percentage points.

Goldman Sachs analysts have formed a portfolio ofshares of 19 companies with a capitalization of at least $ 1 billion, widely using blockchain technologies or digital assets in their activities. The list included Visa, JPMorgan Chase, Microstrategy, Digital Holdings, Riot Blockchain, and more.

The comparison showed that since the beginning of the year the cost of the generatedportfolio grew by 46%, during the same time the S&P 500 added only 12%.

Goldman Sachs also notes a 60 percentcorrelation of the basket with Bitcoin and the Bloomberg Galaxy Crypto Index. Therefore, over the previous two weeks, blockchain-related stocks underperformed the S&P 500 by about 10%, and since Monday they have outperformed it by only 2%.

Another study by an investment bank showed that one in five investors expects bitcoin to grow to $ 100,000 within a year.

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