KANALCOIN NEWS – US bank Goldman Sachs last week released a research note listing 19 US stocks. The stocks are large caps with exposure to blockchain and cryptocurrencies. Even in recent months, these 19 stocks outperformed the S&P 500 index.
Goldman Sachs strategist and managing director, Ben Snider, said his company produced 19 stocks with a market capitalization of more than $1 billion. On average, the stock has outperformed the S&P 500 by 34 points.
This year, the percentage was recorded at +46% vs +12%. He also assessed, at the same time the price of bitcoin (BTC) jumped 86%. Referring to a Bloomberg report quoted by Kanalcoin.com via News.Bitcoin.com, the Galaxy Crypto Index increased 156%.
Goldman Sachs strategists explain the average of the 19 stocks outperforming the S&P 500 over the past few months. This is in line with the soaring price of bitcoin.
The stocks listed on Goldman Sachs include Marathon Digital Holdings, Blockchain, Microstrategy, Silvergate Capital Corp, Paypal, Nvidia, Investview, Ideanomics, Tesla, JP Morgan, Visa, Bank of New York, Mellon Corporation, Facebook, Mastercard, Broadrige. financial, IBM and Coinbase.
Still according to a News.Bitcoin.com report, analysts at Goldman Sachs use a three-pronged strategy, to determine the stocks above. First, there is the so-called “Text search”, where companies search for keywords like blockchain and cryptocurrency in company archives.
It also includes company calls, revenues, presentations, and articles for the last 12 months.
Second, the company uses “Regression beta analysis” to test the beta regression of the company’s stock price. Comparatively, it has to do with the movement of bitcoin, or at least how much the stock moves if the price of bitcoin soars.
Finally, the company also examines inclusion in third-party blockchain indexes, as well as funds traded in Index and Exchange Traded Funds (ETFs).
Meanwhile, Goldman Sachs has restored bitcoin trading. Reportedly, it has also launched a full spectrum of cryptocurrency investment products. In March, for example, the company reported that it had seen huge institutional demand for bitcoin.
Goldman Sachs CEO David Solomon said, “Earlier this month the company was expecting a major evolution of cryptocurrency regulation.”