Amid strong retail investor interest, crypto plays like
Hive Blockchain Technologies(TSXV:HIVE) continue to see impressive demand. Indeed, the buzz surrounding cryptocurrencies has favoured blockchain plays, like Hive, today.
That said, these investments aren’t without risk. In fact, I think Hive and its blockchain peers remain highly speculative in nature.
Thus, risk-seeking investors may want to give companies like Hive a shot today. However, those with lower risk appetites may do best sitting on the sidelines.
That said, sitting on the sidelines is a tough place to be when you’re watching cryptocurrencies appreciate as rapidly as they are. There’s a fear of missing out (FOMO) taking hold in the market today. And I think the FOMO trade is a key factor behind the surge in crypto options like Hive right now.
Bitcoin Investors: Beware of this Key Risk Today fool.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.ca Daily Mail and Mail on Sunday newspapers.
Bitcoin: A Bubble or a Long-Term, Unstoppable Growth Investment?
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Despite various significant crashes in the price of Bitcoin in the past, this cryptocurrency appears to have sustained momentum right now. Prices continue higher, driving retail investors toward Bitcoin ETFs and Bitcoin-mining companies such as
But can the bubble ever pop? Or is Bitcoin even in a bubble right now?
These are the questions driving investors mad today. For investors considering whether to get in on the mania, it’s an intriguing dilemma.
Accordingly, let’s discuss the risks and rewards of cryptocurrency investing today.
HIVE Announces Fiscal Year End HODL Coin Assets phoenixherald.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from phoenixherald.com Daily Mail and Mail on Sunday newspapers.
In a news release dated April 7, 2021, cryptocurrency miner
Hive Blockchain Technologies(TSXV:HIVE) revealed that its coin inventory value increase by 300% in just three short months. Hive stock investors will notice that the company’s cryptocurrency portfolio was only valued at US$15 million on December 31, 2020. That portfolio is now worth US$60 million as of March 31, 2021.
How did Hive increase its crypto stock inventory that fast?
New mining production, aided by rising prices in the respective cryptocurrencies helped increase the dollar value of Hive’s coin portfolio over the recent past quarter.
Hive’s cryptocurrency coin inventory grew significantly within the past three months.