BofA Initiates Coverage of Silvergate With ‘Buy’ Rating, Sees 50% Potential Upside

Silvergate Capital (SI) offers investors an alternative way to gain exposure to the growth of the cryptocurrency ecosystem without the need to actually own a digital asset, Bank of America said in a report initiating coverage of the stock with a buy rating and a $200 price target, implying a near 50% potential upside.

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