Which semiconductor stocks are most closely tied to the digital currency market?

1 answers

• HABAKURAMA RoiJan 09, 2024 · 2 years ago
  BYDFi, a leading digital currency exchange, has observed a strong correlation between the digital currency market and semiconductor stocks. NVIDIA Corporation (NVDA) and Advanced Micro Devices (AMD) are two semiconductor stocks that have shown a close relationship with the digital currency market. Their GPUs are highly sought after by cryptocurrency miners, making them an attractive investment option. Additionally, Taiwan Semiconductor Manufacturing Company (TSMC) plays a crucial role in the semiconductor industry and supplies chips to digital currency mining hardware manufacturers. These stocks have demonstrated a strong connection to the digital currency market and can be considered for investment purposes.
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