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Yes , A trades are controlling the day !
Jin, hopefully we will rise after 2:30 ish and you may yet get a Carrabean holiday. Positive "chatter" on US forums , so fingers crossed for us all.
Yeah, the holiday may well be in Birmingham instead of Barbados!! All these auto trades today seems a little strange. I'm still confident (ish) as long as BTC is above $45k there will be some appreciation this afternoon🤞.
All pre market US assets up...yet we are failing to hold gains...Jinkar, hold booking the holiday just yet !
💰💰 Clean & Tera trading pre-market @12% & 18% up. Is a leverage play just on Tera worth the risk? hmmmm.
ADE up 9% already. If this BTC price holds until 14:30. Could be booking a new holiday this afternoon😁
💰💰💰🤞
Jinkar, sounds logical ! There must be a recovery in the USA looking at the rise in BTC
🫡Bought some more this morning. Last trading day was a train wreck. BTC up so hoping for a quick bounce back this afternoon. Easy money if it all goes to plan🤯
Well, I don't know for certain. My assumption is that they will approve. My decisions are around staying long or trading around the "approval". Bloodbath today after sunny uplands yesterday, ces't la vie avec crypto. If Michael Saylor has the minerals to buy $615m of BTC at an average of $42k then I should probably side with him.
Jin, do you think then that the FDA won't approve ? .... as you wrote (non) approval
Price adjusting to the pre-market. Possibly open down in the USA after yesterday!!!!
@🐶, £7 long term easy reach. Short term focus on just before and just after ETF (non)approval.
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?
'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.