Cryptocurrency stocks have become a way for many investors to gain exposure to digital currencies. For investors who may not want to own crypto directly, investing in companies in the crypto space would be a viable way to jump on the crypto bandwagon. Besides, there was also a report in The Wall Street Journal that the Federal Reserve will be releasing a paper exploring the use of central bank digital currencies (CBDCs) in the U.S. economy. This would mark the central bank’s first concrete step towards exploring the use of digital currencies and potentially pave the way for a Fed-backed digital dollar.
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