Silver Lining on Silvergate
Silvergate Bank may be a viable and lucrative way to gain exposure to cryptocurrency without having to own any of the volatile assets directly.
Since 2013 when Silvergate pivoted into cryptocurrency banking, it has become a go-to for crypto financial services, with a boost in credibility as a Federal Reserve member bank.
Silvergate serves some of the largest crypto exchanges in the world, such as Coinbase (COIN), FTX and Kraken.
What they're saying: Bank of America gave the digital currency banking firm a nod, noting its “tremendous client growth” and “first mover advantage.”
What's next: Silvergate Bank (SI) reports earnings on Tuesday, 4/19 and has a consensus buy rating. Wall Street Analysts forecast a +65.58% increase over the next year.
The bottom line: Considering Silvergate as a viable and lucrative alternative way to gain crypto exposure without having to own any crypto assets yourself? Take a look at our high probability outcomes on SI.