This Crypto Stock Has Proven Resilient Through Bitcoin's Plummet
With the growing adoption of blockchain technology and thousands of cryptocurrencies, a whole array of companies has popped up to support the sector -- from asset managers to banks to crypto miners. And as the price of the world's largest cryptocurrency, Bitcoin (CRYPTO: BTC), has dropped more than 52% this year, crypto stocks have followed suit.
However, one crypto stock in particular has proven remarkably resilient. While the company's stock price has dropped off at times, its business is operating incredibly well even through the volatility.
The crypto bank Silvergate Capital (NYSE: SI) went public in 2019. It offered critical infrastructure for institutions looking to trade cryptocurrencies with crypto exchanges, as management saw early on that cryptocurrencies would be investable assets.
Source Fool.com
