Is Silvergate Capital Stock a Buy?
Shares of cryptocurrency banking platform Silvergate Capital (NYSE: SI) have been beaten down as of late. The Federal Reserve is raising interest rates, and recent comments from Fed officials indicate tighter monetary policy could be on the way in an effort to beat back inflation. Cryptocurrency prices are in retreat, and Silvergate stock along with it, as higher interest rates lower the present value of risk assets.
However, Silvergate Capital has a lot of good things going for it right now in the burgeoning crypto space. Is this stock a good long-term buy?
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Source Fool.com
