In my attempt to buy most of the publicly-traded stocks with bitcoin treasuries. I would say I had a good week. Last week, I added one bitcoin-related stock - HIVE Blockchain Technologies (T.HIVE) - from the list. This week, I did not add any new bitcoin-related stocks but I'm watching closely.
Here are my returns for the last three weeks based on the percentage gain/loss on the valuation tab on my discount brokerage summary page.
Enterprise
MicroStrategy (MSTR): +89.7% (Dec 4/20) +56.9% (Nov 27/20) +28.4% (Nov 20/20)
(Note- MSTR's BTC holdings is up 68.9% while the stock is up 89.7%.)
Bitcoin Miners
Bitfarms (BITF): +49.1% (Dec 4/20) +49.1% (Nov 27/20) +42.9% (Nov 20/20)
Hut 8 Mining (HUT.wt): +50.5% (Dec 4/20) -4.1% (Nov 27/20) -6.0% (Nov 20/20)
Hive Blockchain (HIVE): +49.0% (Dec 4/20) +16.0% (Nov 27/20)
Crypto Trading Platform
Voyager Digital (VYGR): +129.9% (Dec 4/20) +99.0% (Nov 27/20) +40.0% (Nov 20/20)
Bitcoin Funds
3iQ The Bitcoin Fund (QBTC): -10.1% (Dec 4/20) -15.0% (Nov 27/20) -5.1% (Nov 20/20)
Galaxy Digital (GLXY): -9.9% (Dec 4/20) -10.8% (Nov 27/20) -6.6% (Nov 20/20)
Actual Bitcoin
BTC purchased off Coinbase: +52.7% (Dec 4/20) +49.3% (Nov 27/20)+59.7% (Nov 20/20) (using bitcoindollarcostaverage.com)
Conclusion:
As BTC moved up sharply earlier in the week, my bitcoin-related stocks also moved up likewise. Funny that MSTR stock had higher rate of return than the bitcoin in their treasury. MSTR made some nice gains this past week as did virtually all the other stocks except for the Bitcoin funds like QBTC and GLXY, which is a bit of a surprise. GLXY CEO Mike Novogratz is always in the news yet the returns have been mediocre. I think there are other factors which relate to the operation of the company that's driving down the stock. They made gains but they are still negative returns for me.
Big moves were seen in VYGR, HIVE, HUT.wt and MSTR.
So far, I've made 129.9% on VYGR, which makes sense since they have an exchange platform, so whether crypto goes up or down, higher volumes mean more trading dollars made on the platform.
Biggest gainer intra week were the HUT.wts as they had a 97% one day move midweek.
Other than BITF, all were single smaller purchases, the better to see fluctuations on the original amount. However, I will soon be adding to positions, which will affect the rate of returns.
