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Cryptocurrencies are going mainstream as the network grows and as the industry employs more people. For the optimists in this space, crypto is just getting started.

Adoption is growing by both individual and institutional investors which is encouraging news for Bitcoin and other cryptocurrencies.

So what is cryptocurrency?

Crypto is a digital asset designed to work as a medium of exchange wherein individual coin ownership records are stored in a ledger existing in a form of a computerized database. This database uses strong cryptography to secure transaction records, to control the creation of additional coins, and to verify the transfer of coin ownership.

Cryptocurrencies have radically enhanced the way we store, process and exchange value. As the world becomes more digitalized, cryptocurrencies will become even more popular.

Crypto offers opportunity for growth potential and diversification as it has low correlation to traditional assets like stocks, bonds and cash.

Bitcoin was the first cryptocurrency and the largest by market cap. It has become an institutional asset class in less than 10 years. Ether is the second largest crypto and the coin of choice for the world’s largest blockchain - Ethereum. 

Many corporations have purchased cryptocurrency adding it as a store of value to their balance sheet. If corporations start to invest just a portion of their cash in cryptocurrency, a continued rise in the price seems inevitable.

Governments are finally realizing that cryptocurrencies have become too large to ignore. It is a growing asset class - the total valuation of Bitcoin now exceeds $1 Trillion - and needs to be regulated. Just recently, China has given its tacit approval after many years of trying to thwart it.

Investing in cryptocurrencies can be complicated. Let us help you understand the ins and outs of crypto and if adding it to your investment portfolio is right for you.

We're here to help. Contact us at info@stonebrooke.ca. 

This article is provided for information purposes only. Although the content is believed to be reliable when posted, Stonebrooke Asset Management cannot guarantee this information is current, accurate or complete and does not assume any liability. The information is not intended to provide any insurance, financial, legal, accounting or taxation advice and should not under any circumstances be relied upon without consultation about your specific situation. The information is subject to modification and updating from time to time without notice.

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