This bitcoin bank’s stock has jumped nearly 1,300% in just over a year – FOX Carolina

The boom in bitcoin prices is giving a huge lift to a California bank that accepts cryptocurrency deposits and doles out bitcoin-backed loans.

Shares of Silvergate Capital are up more than 120% so far this year -— and the stock has skyrocketed nearly 1,300% since going public in November 2019.

Increasingly more financial services firms, such as Bank of New York Mellon, Visa, MasterCard and BlackRock, are starting to embrace bitcoin. But arguably no bank is as “all-in” on crypto as Silvergate.

CNN Business spoke to Silvergate CEO Alan Lane about the bank’s bitcoin business and what he predicts next for