This week my Bitcoin stock portfolio was like a SpaceX rocket coming back down to earth - controlled, nothing outrageous - with some Bitcoin stocks up a bit and some down a little.
The Bitcoin stocks higher this week were - MSTR, BITF, VYGR, MOGO.wt while noticeably lower was HUT.wt, dropping from 2243% to 1660% return over the nine weeks since I started buying the list of publicly-traded stocks with bitcoin treasuries.
I have started to brace myself for a possible drop in the market - I trimmed a little off my BITF position.
As I'm writing, there seems to be a theme being fleshed out in the market over the last few weeks. Now that the stock market is closed, here comes the weekend Paypal crypto buyers. I'm guessing that addicted traders still get to scratch their itch and expecting a wilder weekend in the crypto market. Seems like a separate universe but if bitcoin is up or down Sunday, then Monday the bitcoin stocks either fill the gap higher or lower. One thing to keep in mind is that Monday is the Martin Luther King holiday in the US. Will some stock trading spill over to the Canadian stock exchanges?
So in the meantime, here are my returns for the last nine weeks based on the percentage gain/loss on the valuation tab on my discount brokerage summary page.
Enterprise
MicroStrategy (MSTR): +234.3% (Jan 15/21) +207.4% (Jan 8/21) +124.7% (Dec 31/20) +86.5% (Dec 24/20) +74.2% (Dec 18/20) +65.3 (Dec 11/20)+89.7% (Dec 4/20) +56.9% (Nov 27/20) +28.4% (Nov 20/20)
MSTR still making gains. Institutions are using MSTR as a BTC proxy. MSTR's BTC holdings are up 129% vs the stock 234%. Can I say it's better to hold the stock over the cryptocurrency?
Square (SQ): +3.4% (Jan 15/21) +9.6% (Jan 8/21)-1.2% (Dec 31/20) +3.6% (Dec 24/20) +6.9% (Dec 18/20) -1.7% (Dec 11/20)
Square's BTC stash has more than tripled in value from $50M to $172M. but their stock price is only up 3.4%. I'm waiting for the next $50M bump.
Mogo (MOGO.wt): +66.4% (Jan 15/21) +58.5% (Jan 8/21) -1.5% (Dec 31/20)
I bought these warrants the previous week; it's another warrant play, which I have done well with (see HUT.wt below). Mogo is a Canadian fintech company with a crypto division. I see it eventually getting on the list at bitcointreasuries.org.
Bitcoin Miners
Bitfarms (BITF): +786.0% (Jan 15/21) +717.9% (Jan 8/21) +415.6% (Dec 31/20) +334.8% (Dec 24/20)+175.4% (Dec 18/20) +32.5% (Dec 11/20) +49.1% (Dec 4/20) +49.1% (Nov 27/20) +42.9% (Nov 20/20)
Hut 8 Mining (HUT.wt): +1660.5% (Jan 15/21) +2243.6% (Jan 8/21) +524.5% (Dec 31/20) +411.6% (Dec 24/20) +249.8% (Dec 18/20) +39.2% (Dec 11/20) +50.5% (Dec 4/20) -4.1% (Nov 27/20) -6.0% (Nov 20/20)
Hive Blockchain (HIVE): +241.1% (Jan 15/21) +302.4% (Jan 8/21) +187.1% (Dec 31/20) +154.7% (Dec 24/20) +201.5% (Dec 18/20) +55.0% (Dec 11/20) +49.0% (Dec 4/20) +16.0% (Nov 27/20)
Cypherpunk Holdings (HODL): +45.0% (Jan 15/21) +76.3% (Jan 8/21) +19.8 %(Dec 31/20) +10.1% (Dec 24/20) +0.4% (Dec 18/20) -2.8% (Dec 11/20)
The miner group dropped a little from the previous week but returns have been very good, ranging from 300% to 1660%. I believe there's still room to grow - just look at market cap for RIOT ($1.7B usd), then compare it to HIVE ($985M cad) and HUT $691M cad). (Of course, subject to hash rates and electricity costs, etc)
I trimmed the BITF position a bit. HUT.wt dropped from 2243% to 1660% - still way up. Small base, will ride it up. Waiting to see if any warrants are listed from the recent financings on some of the miners.
Crypto Trading Platform
Voyager Digital (VYGR): +874.6% (Jan 15/21) +648.6% (Jan 8/21) +534.4% (Dec 31/20) +441.9% (Dec 24/20) +366.1% (Dec 18/20) +181.2% (Dec 11/20) +129.9% (Dec 4/20) +99.0% (Nov 27/20) +40.0% (Nov 20/20)
No longer my highest gaining stock over the last nine weeks but still an amazing 874.6% gain. Last week, I watched CEO Steve Erhlich on the Alex Mascioli show on Youtube and attended the online SNN conference with the CEO giving the presentation. I heard some good news as Voyager has applied for a license in Canada so Canadians like myself will be allowed to trade on the Voyager app, likely in the first quarter. For myself, if 2020 was about accumulating and holding crypto, then 2021 will be about trading.
Meanwhile, their VGX token has been skyrocketing, making number 83 and climbing on the top 100 coins/tokens on coingecko.com. In less than a week, it went from 29 cents to over $1. Lucky my VYGR has kept up and then some.
I still maintain that if BTC goes down in price, VYGR should be sheltered somewhat as they make money on the spread.
BIGG Digital Assets (BIGG): +32.0% (Jan 15/21) +53.1% (Jan 8/21) +32.0% (Dec 31/20) +24.1% (Dec 24/20) +21.4% (Dec 18/20) -12.9% (Dec 11/20)
Still haven't bought more. There was a financing for $10 million last week - waiting to see if any warrants get listed.
Bitcoin Funds
3iQ The Bitcoin Fund (QBTC): +80.2% (Jan 15/21) +109.9% (Jan 8/21) +54.5% (Dec 31/20) +24.7% (Dec 24/20) +21.7% (Dec 18/20) -16.8% (Dec 11/20) -10.1% (Dec 4/20) -15.0% (Nov 27/20) -5.1% (Nov 20/20)
Galaxy Digital (GLXY): +29.9% (Jan 15/21) +37.6% (Jan 8/21) +34.5% (Dec 31/20) +15.3% (Dec 24/20) +20.0% (Dec 18/20) -10.5% (Dec 11/20) -9.9% (Dec 4/20) -10.8% (Nov 27/20) -6.6% (Nov 20/20)
Both the 3iQ Bitcoin Fund and GLXY fell back a little. Nothing to worry about.
Actual Bitcoin
BTC purchased off Coinbase: +159.1% (Jan 15/21) +177.5% (Jan 8/21) +114.1% (Dec 31/20) +79.7% (Dec 24/20) +76.0% (Dec 18/20) +44.8% (Dec 11/20) +52.7% (Dec 4/20) +49.3% (Nov 27/20)+59.7% (Nov 20/20) (using bitcoindollarcostaverage.com)
Conclusion:
A reasonably solid week where the portfolio saw some gains and some drops. Still overall, my bitcoin stocks are very much in the black.
I have started to trim some positions, add to cash and considering whether I should add it to smaller positions.
