Good things are pending16 Jul 2021 02:14
I’ve had time to process the recent dip and (in my opinion) think the price is undervalued, there’s several reasons as to why but I would like to mention a few things, the past few weeks the volume bought in £ is greater than the volume sold in £, which means there’s a net gain in investment.
Someone beginning with R posted a nice YouTube video which I watched, although their thesis was the price is still heavily overpriced, although I’d care to argue that several FTSE100 companies’ operating profit can be around 5-10% of the companies mcap so on that basis I don’t think Argo is heavily overpriced, I think a lot of fear mongering has been conducted and perhaps support from institutions has receded until the regulatory actions affects are fully sought through. (Not to discredit the video, glad whoever made it + kudos to the poster too).
Additionally, Argo is mining more this month they were last month, they’re getting better at it also, they could (big if) be listed on the NASDAQ, and they are making a great effort to push towards renewable energy which I think is a great move for a digital crypto minor, investment in the future of a company is great.
Now with the regulatory decisions in China, the FCA action within the UK on Binance; it’s my opinion, that this would lead to an increased BTC price, I think Argo is currently mining in the 40mil/BTC price annually, which is great the mcap is 380m~. Forgive me if I’m wrong but all of these are good signs right?
I think somewhere I read El Ecuador is planning to make crypto payments a permissible tender which also bodes well. Now scepticism aside about the current BTC share price... $33k... if it were to double, or triple, with support I would assume a triple increase in revenue for Argo and thus greater investment potential.
Also I haven’t seen anyone speak on the fact the regulatory moves in different parts of the globe mostly crackdown on the anti money laundering side of BTC and have little impact in preventing operations of actual BTC processing; companies in China are fleeing abroad where they are welcomed.
I’m sure I could speak on this for a long time, but I think all things considered, I’m happy with the movement of SP and plan to increase my holding, but I’d like to hear anyone else’s sensible thoughts on what I’ve written above or if anything I’ve said, non speculative, sounds bizarre...
Cheers