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Why hasnt this moved toward NAV?
Has much further to go to bridge the gap as Q1 NAV 7.38p, expect tender buybacks to kick in shortly, that will add momentum too as this is way undervalued
Great to see we're way undervalued. Fantastic RNS detailing what's going to happen and the NAV of the shares
Update Q1 NAV 7.38p
Bitcoin
BTC
623
42,595,550.41
Ethereum
ETH
6,794
26,786,160.28
Solana
SOL
86,396
12,700,212
Optimism
OP
732,899
3,268,729.54
Lido Dao
LDO
396,109
1,311,120.79
Cosmos
ATOM
57,902
766,043.46
Near Protocol
NEAR
225,362
1,212,447.56
Iron Fish
IRON
60,938
152,954.38
Stablecoins
USDT/USDC
203,220
$4.19 million in cash & other investments
Total around $93,272,413
NET ASSET VALUE £72, 460, 073.13
CURRENTLY MARKET CAP IS £37 MILLION WELL UNDERVALUED
Net Asset Value just keeps on going up here. Well undervalued.
Thanks Vision, exciting times lie ahead!
Typically there is a dump pre-halving and the real fun starts after the halving, but because of the ETF dynamic and institutions buying BTC like there is no tomorrow (suggest you have a look at this video: https://www.youtube.com/watch?v=mbKHn2-xNzM), I wouldn't be surprised if BTC just goes up much higher than anticipated, at least until April. My theory is it gets a little overheated by then, we have a "surprise" dump or sideways action for a few months which would at that point allow Alt coins and especially Eth & L2s to go on a legendary run. BTC then goes stratospheric going into November 2024 US elections. Essentially none of the above would put much pressure on the PNIX PA since they own loads of *prime atl coins too, especially Eth which should have its own US based ETFs approvals in May!
Post US elections, I would probably start considering that crypto starts retracing, maybe even a return to a bearish market. But BTC might be at $100k or $200k; $250k+ by then? Anyone's guess where Eth, Sol etc.. price might get to... Just my theory on the matter... Been following & buying crypto since 2017 - I'm not a true OG but not a beginner either.
Do we expect bitcoin price to continue to grow after the halving or are a lot of the current gains as a result of FOMO before the halving happens?
Thanks mbvb2 for taking the time to post the current nav 6.5p. Alot of catching up to do and plenty of upside from where we are.
£34.10 million mcap as of 28/02
Phoenix hold the following:
623 BTC = $39.45million
6794 ETH = $23.64million
86396 SOL =$10.07 million
732899 OP =$2.86 million
Others $3 million approx
$4.19 million in cash & other investments
Total = $83.12 million
Total = £65.64 million
Equals approx 6.50p per share
Current price 3.50p per share
Wonder where NAV is now with bitcoin flying much higher - my view is we are well above 5p, anyone done the calcs?
thanks in advance
It just gets better with Net Asset Value. When demand grows but supply stays the same what happens??? To the moon my friends.
Held this share for a while & looks like things are on the up 👍
Do the calculations on the coins we have the net asset value just keeps on growing. I believe this is very undervalued. Bring on the share buy back!!! Hopefully starting late April
Our Net Asset Value just keeps on going up. Do the Maths. The buy back is at NAV.
And we are worth more again bitcoin at over 52k and eth at around 3k. The Nav just goes up here.
You can buy on IG. They provide a quote so you can get inside the spread too.
Where are people buying PNIX? Checked Hargreaves’s lands down and it’s not searchable.
Yep huge disparity v nav. I think no one fully understands how the tender will work but essentially, we should be able to get out at or near nav at some point in the next few months.
That means significant upside vs the current SP and a tremendous downside protection in case BTC or ETH retrace. If previous cycles are anything to go by, BTC should be making new ATHs after the halving, but this cycle might prove to be the exception where it starts making ATHs before the halving already! We shall see... Certainly Eth has the most upside here now imo. with its ETF yet to be approved. Currently a deflationary asset generating a huge amount of fees!
Bitcoin 623 $51232.61 $31,917,916
Ethereum 6,794 $2,727.50 $18,530,635
Solana 86,396 $115.64 $9,990,833
Optimism 732,899 $3.82 $2,799,674
Lido Dao 396,109 $3.24 $1,283,393
Cosmos 57,902 $10.36 $599,864
Near Protocol 225,362 $3.43 $772,991
Iron Fish 60,938 $1.72 $104,813
Stablecoins USDT/USDC 203,220
Total $66,203,339
$4.19 million in cash & other investments
Plus this
$70,393,339
so in pound it's £56,118,977.72 and currently we are trading at £32,790,000 we are well under valued and will go up into halving
Been here a long, long time and things are finally looking up. Looking at the figures posted by others, what would be a reasonable price to get out on? Any thoughts?
Good spot, Bitcoin through $50000 for first time and rising fast so the valuation here is well behind the market so undervalued atm
£28.76 million mcap as of 10/02
Phoenix hold the following:
623 BTC = $29.64million
6794 ETH = $16.96 million
86396 SOL =$9.43 million
732899 OP =$2.46 million
Others $2.8 million approx
$4.19 million in cash & other investments
Total = $65.48 million
Total = £ 51.85 million
Equals 5.13p per share
Current price 2.98p per share
Trading at 58% of NAV. Share price to rise 72% to get to NAV, upcoming tender offer to buy at NAV!!
At these levels you would get a 72% return on your investment. Crypto is booming so could easily go higher.
Even if Crypto prices fall 40% they would still offer the NAV price so you would get your money back.
I doubt there is another crypto investment out there that offers that margin of safety and such upside potential.