Member Info for LongInvestor

IIRC it was Kerrisdale that released the short report on MSTR recently too? - Doesn't look like that is going too well for them ATM, hence the attack on the entire industry via RIOT.

Interesting comments on X.com about how K's assets under management (AUM) has dropped from $1.3billion in 2021 to just $318million in 2024 - that's quite some drop / mistakes by them!

https://x.com/DzambhalaHODL/status/1798376324819816797

"It all depends on what that $31k 'direct cost' per BTC in Q1 actually includes. If it is just electricity/hosting then yes they certainly are but if it includes depreciation then almost certainly not."

Someone asked this question in Argo's Investor call during the Q&A, the official answer directly from Argo is... No, the $31k does NOT include depreciation.

I forgot about ARB, another one or Mark's tips that's ending up all the way to the bottom!

Just stating the facts Chaebol! ;-)

"biggest and most undervalued share on the market has to be GST"

Mark, is that like BLU or TNT? - Readers beware, TheeeDuke has a history of pumping / leading people to shares which go south, all the way to the bottom!

Tekina85, can you confirm if you are an employee of Argo Blockchain? Are you Chippas or maybe Investor Relations?

"There is also a culture of posting about other miners thinking they can manipulate vulnerable newbies to sell up and buy up other miners because it could be they are stuck."

I totally disagree. If we take MARA for instance, yesterday was a slow day, 'only' 30.1m shares were traded, that's approx $571million in value terms; on 5th March there were 100m shares traded or approx $2.3billion.

If anyone thinks LSE has that much influence to move these miners that are being discussed are bonkers!

As articulated many times before, the members of this group are interested in various miners and what is happening in the mining space.

If this forum is restricted to just Argo, it will be as dead as the company is today! (yes, I do hold a token amount of shares)

Interesting article about the short report, which I very much agree with. Whilst I’m not the best, I try to trade more like the ‘dumb trader’ as described in the article.

https://www.tradingview.com/news/benzinga:20366ae1b094b:0-bitcoin-shorting-microstrategy/

"Hmm - pretty damning report though .. not sure it will just recover after that... maths is maths..."

I think most investors knew how many BTC MSTR has, so it's easy maths, there seems to be plenty of talk about them getting into S&P 500, which would massively increase their SP...

See comments on this https://twitter.com/KerrisdaleCap/status/1773337285062172793

and an interesting look at what entering the S&P could look like https://www.youtube.com/watch?v=I16llak_IS4&t=3192s

MSTR is down due to a short report released today by Kerrisdale Capital

https://www.kerrisdalecap.com/wp-content/uploads/2024/03/MicroStrategy-MSTR.pdf

I suspect it's also an opportunity for some to take profits before the Easter Holiday. I think it will recover later today or Monday so have rotated some funds out of CLSK into MSTR

Is the (currently) 18% rise at WULF due to short covering, following last nights earnings call? (Apparently one fund has 70% of the 47mln shorts - see Q&A section of transcript below)

https://seekingalpha.com/article/4679247-terawulf-inc-wulf-q4-2023-earnings-call-transcript

This interview with BitFarms Chief Mining Officer (Ben) is worth a watch to get an insiders view on current price action of the miners and some interesting insights into BitFarms.

https://youtu.be/qQ61F2qgMm8?si=_adPFkRK07-Opmxt

ISTR several people mentioned rotating out of the miners into MSTR prior to the halving a few months ago!? - I certainly did, I sold all my higher risk / poor performing miners (RIOT, HUT, HIVE, MIGI) and signiticantly reduced my holdings in WULF, BITF and moved my funds over the last few weeks to MSTR (majority), CLSK, MARA and DAGB (they to me are the least risky with lots of potential upside).

Today, it looks like it's still happening, people rotating out of miners into MSTR & ETFs. I think the reverse will happen post halving and we will see the miners move up again. Before then, I think it's going to be a rocky road for all of them, as there is too much uncertainty around.

GL with whatever you choose to invest in.

I haven't researched this, but it sounds interesting , essentially saying at the end of the day, Buys - Sells = BTC to purchase

"The Spot Bitcoin ETFs will only settle daily after US 4pm EST market close per S-1 registration applicaitons. This is when the @The_DTCC will process orders and the issuers will have to rebalance their fund. Based on the 23.45% increase in the

@BlackRock $IBIT premarket share price, if we add 23.45% to the BTC price we are at $47100 + $10800 = $57900 per coin right now.

Remember the ETFs use 3rd party Bitcoin Index firms to weight the price of Bitcoin across multiple global exchanges at 4pm EST daily.

Lets see at end of day. We will have to adapt as traders to this new daily 4-5pm EST rebalance - Im already making strategy changes. Asia will be interesting as they will trade into the newly rebalanced share prices first.

Good times. "

No. "In the UK, US ETFs are not available for sale because they don't issue a Key Investor Documents."

I checked with two of my brokers who both concur, saying they are not able to offer US ETFs at this time. What does this mean to us? I think UK money that was sidelined will start to flow back into miners over the next few days, especially if US funds start ploughing money $Billions (as reported) into their ETFs, pushing up the BTC price!

The following article gives some good background reading: https://www.thisismoney.co.uk/money/crypto/article-12948075/Will-UK-investors-able-buy-Bitcoin-spot-ETFs-approval.html

Looking at the price action on all the miners, it looks to me like FOMO is kicking in!?

Reading on X, there are plenty of traders that have money sidelined, waiting for the FED announcement... Lets hope this momentum continues for the rest of Jan! Whichever miners or SPOT positions you hold, Good Luck everyone!

"ETF news 1300hrs UK time..?"

One of the ETF applicants is quoted as saying they still expect the ETF to be approved around 5pm ET (10PM GMT) today.

"Musk / Twitter could sort this out in a few minutes by saying if it was hacked or not - they know who logged in and when and from which IP address."

They already have responded, from @Safety on X

"We can confirm that the account @SECGov was compromised and we have completed a preliminary investigation. Based on our investigation, the compromise was not due to any breach of X’s systems, but rather due to an unidentified individual obtaining control over a phone number associated with the @SECGov account through a third party. We can also confirm that the account did not have two-factor authentication enabled at the time the account was compromised. We encourage all users to enable this extra layer of security. More information and tips on how to keep your account secure can be found in our Help Center: https://help.x.com/en/safety-and-security/account-security-tips"

Source

Just complied this list from the amended S-1 forms submitted today which shows the tickers, fees and which exchange they will be listed on. Thought is may be useful to others...

Ticker Fee - Issuer - Exchange

BITB 0.20% Bitwise Bitcoin ETF - NYSE

ARKB 0.25% ARK 21Shares Bitcoin ETF - Cboe BZX

HODL 0.25% VanEck Bitcoin Trust - Cboe BZX

EZBC 0.29% Franklin Bitcoin ETF - Cboe BZX

BTCW 0.30% WisdomTree Bitcoin Fund - Cboe BZX

IBIT 0.30% iShares Bitcoin Trust - Nasdaq

FBTC 0.39% Fidelity® Wise Origin® Bitcoin Fund - Cboe BZX

BTCO 0.39% Invesco Galaxy Bitcoin ETF - Cboe BZX

BRRR 0.49% Valkyrie Bitcoin Fund - Nasdaq

Source: https://www.sec.gov/cgi-bin/browse-edgar?company=&CIK=&type=s-1&owner=include&count=40&action=getcurrent

So, whilst we all wait for the ETF announcement and the anticipated jump/fall, what's your guess for BTC price at close of UK & US markets today? :) - Here's mine...

UK: 46,500

US: 48,200