Although investors are understandably buoyed by the dramatic rise in cryptocurrencies, there’s also some underlying concern that eventually, the sector could incur a correction. Still, for now, it’s obvious that the bulls have complete control. For those who are convinced that the rally can still keep going, crypto proxy play Block (SQ) presents an enticing idea.
To be clear, I don’t mean to dismiss the company simply as a proxy. Block represents one of the biggest names in the financial technology (fintech) space. It’s relatively easy to make the argument that its broader business symbolizes the pulse of the “new economy.” However, part of that description stems from its strong support of cryptos and the underlying blockchain technology.
