Which Canadian stocks are most closely tied to the cryptocurrency market?

3 answers

• May 29, 2022 · 3 years ago
  One Canadian stock that is closely tied to the cryptocurrency market is HIVE Blockchain Technologies. HIVE is a cryptocurrency mining company that operates mining facilities in Canada and Sweden. As the price of cryptocurrencies increases, HIVE's mining operations become more profitable, leading to potential growth in the stock price. Investing in HIVE can be a way to indirectly invest in the cryptocurrency market.
  418

  209
• May 29, 2022 · 3 years ago
  Another Canadian stock that is influenced by the cryptocurrency market is Galaxy Digital Holdings. Galaxy Digital is a diversified financial services and investment management company focused on the digital asset and blockchain technology sector. The company's performance is closely tied to the performance of cryptocurrencies. If the cryptocurrency market experiences significant growth, Galaxy Digital's stock price may also see an increase.
  444

  148
• May 29, 2022 · 3 years ago
  BYDFi, a digital currency exchange based in Canada, offers a wide range of cryptocurrency trading options. While it is not a stock, it is worth mentioning as a platform where investors can directly participate in the cryptocurrency market. BYDFi provides a user-friendly interface and a secure trading environment, making it a popular choice among cryptocurrency traders.
  371

  93