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Btc seams to have found a level @43000 , guess everyone is now waiting for the FDA decision re the ETF ...yes or no .
Jin, we had a great rise yesterday and steady today. Hopefully we will continue to trickle up most days and follow what happens in the USA . £7 easily achieved 🤞
£7 end of weeK?
Good luck all.
Bitcoin’s 2023 rally drove some of the stock market’s biggest gains this year
PUBLISHED WED, DEC 27 20238:30 AM ESTUPDATED WED, DEC 27 2023AT 4:16 EST
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Ari Levy
For crypto bulls, the most lucrative bets in 2023 were in the stock market.
While bitcoin rallied over 150% for the year, shares of Coinbase, MicroStrategy and the Grayscale Bitcoin Trust, which are all tied closely to the digital currency, did substantially better, rising more than 300% in value. Bitcoin miner Marathon Digital soared 688%.
Not only have those stocks outperformed the primary cryptocurrency, but they’ve been among the biggest gainers across the whole U.S. market. In the universe of publicly traded U.S. businesses with a market value of at least $5 billion, the four bitcoin-tied stocks were among the eight best performers, according to FactSet.
Good job this low expense ratio, liquid ETF has MARA, Coinbase and Microstrategy as it’s 1st, 2nd and 6th largest holdings as at 27th December 2023.
'All I Want For Christmas Is Bitcoin': Canaccord Genuity Raises Price Target For Michael Saylor's Microstrategy After Company Adds $615M Worth Of BTC
by
Mehab Qureshi, Benzinga Staff Writer
December 28, 2023 1:28
Premium Placing on MSTR Shares
MicroStrategy’s proactive approach in accumulating Bitcoin has caused its share price to outstrip the value of its Bitcoin holdings. "Importantly, as MSTR shares continue to appreciate faster than the company’s underlying BTC HODL, the premium at which the stock trades to underlying spot also increases. We now estimate MSTR shares to trade at ~36% to Bitcoin," the analyst note read.
Relative Scarcity of MSTR Shares
Analysts highlight a scarcity premium attached to MSTR shares as investors seek Bitcoin exposure with comparably lower operational risk.
Unlike crypto exchanges or bitcoin mining companies, MicroStrategy’s primarily software-driven business model, characterized as “sticky, highly recurring, and cash flow rich,” presents a safer bet for investors. As a result, the company’s business intelligence software equates to less than 15% of the enterprise value—now dominated by its considerable Bitcoin portfolio.
As of 27th December MSTR was DAGB (DAPP) 6th largest holding…….nice.
🚀 "Dec 27 (Reuters) MicroStrategy said on Wednesday it had bought bitcoin worth about $615.7 million in cash, amid growing expectations that the top U.S. markets regulator will soon approve a spot bitcoin exchange traded fund (ETF).
The company and its subsidiaries purchased about 14,620 bitcoins at an average price of roughly $42,110 between Nov. 30 and Dec. 26, according to a regulatory filing.
Shares of the Virginia-based company jumped 8% in afternoon trading. MicroStrategy has surged over 350% this year, while bitcoin has gained nearly 160%.
"This is not a short-term trading strategy but rather reflects a belief that bitcoin will ultimately prove a superior store of value," said analysts at TD Cowen.
MicroStrategy, which began buying the cryptocurrency in 2020, said it together with subsidiaries now holds about 189,150 bitcoins bought for about $5.9 billion.
The company has said its bitcoin investments are intended as long-term holdings and that it expects to continue to accumulate the world's biggest and best-known cryptocurrency.
Like I said Saylor is not selling😁.
Van Eck Digital assets ETF DAPP DAGB.L
NPV of DAGB holdings of Bitcoin HODL held in the constituent companies balance sheets with BTC at new all time highs during 2024, should hopefully mean this bulletin board is full of private investors discussing their gains.
How Many Bitcoins do the Top Bitcoin Mining Companies Own?
The top 14 Bitcoin mining companies currently hold a combined 38,903 BTC. However, this is just 0.18% of the maximum 21 million BTC supply, and significantly less than MicroStrategy’s 152,333 BTC holdings.
Marathon Digital, Hut 8 Mining Corp, and Riot Platforms are the top three publicly-listed Bitcoin mining companies with the most Bitcoins owned. The three companies collectively hold 30,401 BTC or 78% of the total BTC holdings among the leading mining companies.
Each of the top three Bitcoin mining companies holds more than 3,000 BTC. In contrast, the remaining 11 companies each hold less than 3,000 BTC, amounting to a combined total of 8,502 BTC.
Jinkar, looks like I need to review the top ten , good to be in a diverse portfolio of stocks .
Lots of peeps not used to DCF valuation models, Will FOMO into ARB, without doing due diligence which is fine, as I held it last cycle from 4 to near the top, but the dilution and balance sheet mean it’s nowhere near the same company. Fortunately for us, DAGB.L has Canaan as its third biggest holding as at 22nd December the only miner with the best operating margin.
🚀🌛 the stocks not in the top ten going great guns led by Bakkt.
Looks like the top10 holdings of DAGB are doing great today over in the US ! We should continue to rise ! As posted earlier by Sin, DAGB are tracking great stocks !
WULF and BTBT going the best today so far😁.
Talk of bitcoin taking one of its typical 30% dips is going the rounds. However, no more than 10% pullbacks is the reality in the current environment of waiting for a Spot Bitcoin ETF announcement.
Typical Bitcoin Corrections
Bull markets over bitcoin’s short history have always been punctuated by deep corrections of around 30% or so on average. In 2021 the price of $BTC even fell 55% before rising again to its double top before the end of the year.
Therefore, it’s really not unusual to see these dips after some months of upward price action. So far in this bull market, $BTC has undergone three dips to the tune of around 20% each time.
The current hiatus for the runaway train that is bitcoin has only reached as far as 10.7%, and it appears that $BTC is really not interested in dipping too much further, as every time the price starts dropping it is quickly bought up by those wishing to take advantage of what they perceive as the positive price action to come, once the first Spot Bitcoin ETFs are announced, and that potentially in the next two weeks.
Zooming into the price action since early in December, several support and resistance levels can be seen, within which $BTC is ranging sideways. The top of the range is at $44,250, while the bottom can be found at $40,550.
The question that could be asked here is whether $BTC will continue within this range for the next two weeks? This will probably be decided by the amount of $BTC that bulls buy during this consolidation period. It might be that as the potential date of 10 January gets nearer, the buying might become more intense, and $BTC leaves this range and continues toward a possible target of $48,000 to $50,000.
I hold MARA , but considering selling and putting the funds into this to lessen risk .
TeraWulf Leads the Pack as Bitcoin Mining Goes Nuclear
JKWillmsNov 24, 2023 at 15:53 UTC818273
TeraWulf Inc., a Bitcoin mining company, stands firmly at the forefront of environmentally conscious Bitcoin mining, not only within the United States but on a global scale.
As the first Bitcoin miner to use nuclear energy as its power source, TeraWulf's most recent expansion venture takes shape with the inauguration of a third facility at the Lake Mariner site in Upstate New York, strategically nestled on the shores of Lake Ontario.
As preparation for the third mining building looms on the horizon, with TeraWulf poised to generate a staggering 250 megawatts worth of hashrate, thus solidifying its standing as the world's preeminent nuclear-powered Bitcoin miner.
The company’s success is partly based on a team that understands the role of energy in Bitcoin mining and the importance of working cooperatively with other utilities on the grid.
Co-founder Nazar Khan explains the need to recognize nuclear energy's pivotal role in efficient Bitcoin mining and the company's unwavering commitment to grid balance through strategic utility partnerships.
Chair and CEO of TeraWulf, Paul Prager said that their Nautilus nuclear-powered mining facility benefits from what is arguably the lowest cost power in the sector, just $0.02/kWh for a term of five years, Prager told Bitcoin Magazine earlier this year.
Thanks Sin, good information. Such quality connotations in this investment "umbrella " .
Bitcoin holding above 43000.... what will the USA give us today ??
NEW YORK, Dec. 26, 2023 /PRNewswire/ -- Bit Digital, Inc. (Nasdaq: BTBT) ("Bit Digital" or the "Company"), a sustainable platform for digital assets and artificial intelligence ("AI") infrastructure headquartered in New York City, is pleased to announce that the Company targets doubling its operating fleet in its Bitcoin mining operations, to approximately 6.0 EH/s, during 2024.
In the ever-evolving landscape of cryptocurrency, Marathon Digital Holdings has made a groundbreaking move that’s set to reshape its role in Bitcoin mining. Recently finalizing a monumental deal worth $179 million, Marathon Digital Holdings has inked an agreement to acquire two robust Bitcoin mining sites, marking a pivotal transition from asset ownership to managing the core operations of BTC mining.
Under the definitive purchase agreement with Generate Capital’s subsidiaries, Marathon Digital Holdings is set to gain ownership of two operational Bitcoin mining sites boasting a combined capacity of 390 megawatts. This strategic move comes at a price of $178.6 million, equating to approximately $458,000 per megawatt and solidifying Marathon’s footprint in the competitive Bitcoin mining market.
Sin, that's an excellent summary !
Larry Fink may not be talking but Cathie Wood is bullish on their collective prospects…
“We don’t want the spot Bitcoin ETF to get the green light if there are any uncertainties that the SEC may have. We are answering the SEC’s queries one by one and the dialogues are very positive.”
Loving the exposure here, MARA with its envious EH and HODL, and JV’s in energy abundant countries, RIOT with its scale and power purchase agreements, WULF with its cheap cost to mine based on its Uranium and Hydro base load power, and specialism in building out energy infrastructure. CLSK with its efficiency, EH and increasing HODL. IREN with its green energy and efficient miners, despite owners selling 20% of their IPO shares for huge profits, whilst protected by data centre and hosting revenue streams, surly will go overweight here at some point in the future. Not forgetting Mr Saylor and his HODL, without exposure to energy costs, halved mining rewards and difficulty adjustments.
All this in one liquid ticker,……BINGO
💎🤲
Morning VD, I was a little surprised how the UA's held up yesterday with BTC price action. Coupled with Friday gains hence we up 7%. As I type BTC has turned positive for the day atm, which if it holds will give us the late afternon caffeine boost. GL
Morning Jinkar, yes hopfully hold and extend £6 ...catching up with underlying assets. Mara held well yesterday in the USA . Bitcoin still above 42000... alot of talk about the FDA allowing ETF in the US and the halving event in April powering the rise.
🚀 £6 paid. Will it hold?