Bitcoin (BTC-USD) jumped above $62,000 after the assassination attempt on former President Donald Trump, with crypto-adjacent stock Coinbase (COIN) also rising about 5% in response.
Citizens JMP Managing Director & Director of Financial Technology Research Devin Ryan joins Morning Brief to give insight into this movement in crypto and let investors know what to keep in mind.
Ryan says he thinks "there's a lot more upside" ahead, adding "It's really kind of 'what's your time horizon?' We're still in the early innings of this entire space. And so, firms like Coinbase, in our opinion, they're going to benefit from the exchange function, trading of various cryptocurrencies. But really, the adjacent businesses where they are building the infrastructure for being a player in remittance and payments and Web3. They have their own blockchain called Base."
For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.
This post was written by Nicholas Jacobino