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Assuming BTC continues it's price trajectory it'll be harder to maintain the current SP trading patern.
We have 80PH due imminently and the delayed 530PH increase in hash rate due in Sept / Oct.
Also PW has some big announcements re. Miners and Nasdaq.
I think SP could see a rise at any point from now, and for good reason.
ARB is going to be even better value this afternoon.
ARB is losing MCap vs peers whilst the fundamentals remain unchanged.
Canadian miners will pump again this afternoon and ARB will become investiture more undervalued.
This is a great entry point or top up IMO as there is some serious MCap cstching up to do.
Any future dillution = machines = more BTC = no FUD = increase in SP!
All IMO and invested accordingly.
@the_Chuz
ARB decoupled from BTC and peers on July 26th. 1 wk before ePIC news.
Prior to that the SP was dropped in an orchestrated move to caused fear.
Now ii, who missed the early boat and rise, myself and others, looking at the bigger picture, are buying.
These 3 issues have all been present since Texas announcement.
Irrespective of Volume, NASDAQ, Texas; the SP has decoupled from BTC and that's because its being suppressed, IMO.
New investors want to buy as low as possible so they do not drive the price up, per se.
Sellers control the price at which they will sell, and that traded shares dictate the price for everyone else, even those shares not in the market.
As such, anyone with a supply of shares (and with ARB, the ability to arbitrage UK vs US) is pretty easy to control the SP.
Also, the spread is ofter quite large so that PIs are less able to join in with swing trades.
In my opinion these are signs of accumulation by ii and market manipulation to achieve the best price and supply.
My buy also showing as a sell.
Like Michael Salyor (but without the deepth of pocket!) I have a very strong conviction that BTC is here to stay and will go up in value.
As such, I've added 21000 more ARB today and whilst it might go down in the sort term, this will make money if I do nothing more than hodl.
Saylor was / is down tens of millions on recent purchases but he has never moaned. The risk of missing out on a lower low is a small price to pay when the prize I'm after is longterm financial freedom.
IMO ARB is good value now commparative to peers and with 99% of the Senate supporting the revised 'Broker' definition I'm confident common sense will prevail before 2023, when the bill is to be enforced. As such, BTC will continue to garner support and momentum, globally, and has a clear role to play as a store of value / inflation hedge.
Onwards and Upwards (mid-longterm)
PW said that they cancelled the order with ePIC and put the money towards new machines. That's good enough for me, resuscitation as miners are no longer at a premium or in short supply.
I bought 40k shares yesterday and will continue to hodl and buy the dip. Argo is well positioned to buy cheaper miners given China exodus and PW confirming that supply is not an issue for Texas in his video yesterday. NASDAQ is imminent and tge BTC miner ETF from France had ARB as their biggest holding at 9% of their portfolio!
Don't be fooled by FUD.
Sentiment. Drop is exploitation of negativity because we don't have any miners orders. Also, if Texas is based on immersion mining and ePic can't deliver then I'm not sure where that leaves us...
That said, I'll happily pick up more at these prices. In truth I'd happily see it drop more in the very short term as I'm in this for the medium/long term!
This is from another board and posted by GeGe. It's very reassuring and makes a lot sense!
"The fact that politicians put it into an infrastructure bill and circled $28bln in taxes is proof there is no intent to destroy crypto. You can't collect taxes from a dead industry and you can't collect taxes from an industry with no regulatory framework. Businesses need certainty to plan long term and build with confidence"
Texas BTC facilities gets cheap power because they are flexible and can turn off consumption (miners) when there is peak demand.
Tasla Batteries can store cheap power from the grid that can then be deployed when the grid requires miners to be turned off; which would suit ARB assuming costs from mining are greater than the cost of the Batteries.
A simple tie-up for Tesla + miners and also good for local communities. ARB could even sell power if needed.
JP Morgan were fined $950 million for spoofing', market manipulation so teams of posters on BBs is highly likely and certainly not beneath any investment firm.
https://www.reuters.com/article/jp-morgan-spoofing-penalty-idINKBN26K325
As for FUD, they are regular piblic detractors of BTC whilst at the same time offering high networth clients BTC investment opportunities and even the boss appears to be in on it -
https://news.bitcoin.com/after-the-boss-calls-bitcoin-a-fraud-jp-morgan-buys-the-dip/
The last news I have is the Pluto joined the Yop advisoty board in May - https://yopfi.medium.com/pluto-digital-assets-plc-joins-yop-advisory-board-ad54498b88cf
My take is that after the failure(?) of the coinbase IPO and of NFT Investments, on AIM, along with the decline in BTC and crypto assets, it would not be the best time to raise capital and get the valuation they hoped for.
On the plus side, it did mean the ARB didn't have to pay millions to maintain their stake.
I guess it'll IPO when market sentiment has turned and their books will probably be looking much healthier then too resulting in a oversubscribed offer.
Muscles12 - you are also named as a city based team shorter
The work was already done. No need to post.
RNS to confirm that there is no fundamental reason for the drop in SP would be nice!
The same Bixby who's NFT Investments play has lost money consistently since IPO? Err, no thanks!
If these guys think 26.5p is a discounted price for a$20m investment then today's price is a great buying opportunity.
The current SP is a surprise but what is there to worry about? Am I missing something?
This headline and the reactions to it are a perfect case of FUD in action. The headline is misleading.
Iran plan to ban mining for 4 months, over the summer months, whilst people need air conditioning and refigeration etc. This is to avoid power cuts. That all seems reasonable to me.
The interesting bit is that there legal miner (icensed) and they have to sell their BTC to state. The are also many who mine illegally without a license. This shutdown applies to both, but who knows if the illegal miners will comply.