Aussie crypto stocks narrow gains in 2021

Digitalx

31/12/2021 03:47

** Australian crypto stocks narrowed gains in 2021, tracking
the trajectory of bitcoin, the world's most popular virtual
currency      
    ** Bitcoin miner DigitalX Ltd  DCC.AX  was flat in 2021 vs a
twofold pct gain in 2020, while crypto investment platform
Fatfish Group Ltd  FFG.AX  rose 36.1% vs a nearly threefold gain
    ** Bitcoin  BTC=BTSP  continued its bull run into a third
year, adding more than 18,000 points in 2021, but the pace was
slower than last year when it added about 22,000 points
    ** Australian investment firm Raiz Invest Ltd  RZI.AX ,
which offers a bitcoin portfolio, advanced the most in the
sector, with a 87.8% gain in 2021
    ** "I think there is a lot of uncertainty in the coming
months (for Australian crypto stocks). Market has ignored the
Fed tapering and the rate hike outlook," Mathan Somasundaram,
CEO of Deep Data Analytics, said
    ** "(Bitcoin) has more or less become a risk asset, so I
think it's trading in line with what happens to market. I think
over the next two to three months, there will be substantial
risk," he added
    
    
(Note: Numbers in graphic as of close on Dec 30)

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Aussie crypto stocks performance in 2021    https://tmsnrt.rs/3eCxeCw
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 (Reporting by Archishma Iyer and Yamini CS)
 ((Archishma.Iyer@thomsonreuters.com;))