Member Info for carrisi

Yes mate. Building a position, but not overpaying. Investing in the grey pound! No point passing on your pension anymore!

Been looking to top these up at around 550p. Thought I was too late. Imagine my surprise when I saw them down 8% this morning on what seemed like a solid update. Bought a load for my ISA at 547p at 09:41. Forgot about them until 11am and then saw them at 650p. What on earth is going on?

Thanks for the profits though :)

Erm. It the. Its BTC holdings grew £14m in value (over cost) over the last 3 months. Multiply that for a full year and you get a PE. And it’s not expensive at all.

For the traditionalists…

£14m profit per quarter just achieved. Makes £56m/year. Puts it on a PE ratio of 11.2x (15.7x fully diluted). If you think Bitcoin will only CAGR at 10-15% a year then it’s fairly valued and fair enough. But historically BTC has compounded at 50-100%.

I bought at 43p in May. It now has over 43p per share NAV. And that’s with only a 10% increase in BTC price. That’s why you pay a premium.

By all accounts the container market and dry bulk markets are going gangbusters. And with a fixed cost base, it should see a massive bump. 16 June RNS stated new contracts yielding 20%!! Enough said.