(DISCLAIMER - This is not financial advice; this post is for entertainment purposes only.)
Thank you Elon for tanking the bitcoin price. One week's he's pro bitcoin, the next he's not. That's one sudden U-turn. Yeah, bitcoin mining uses up a lot of energy but you would think his prior due diligence would have ferreted that out. Or was proper DD done?
My bitcoin stocks portfolio took a huge hit at the early part of the week. By Friday, things got better. and the big loss was reduced. but was that just a dead cat bounce?
The portfolio had a bad week with only one winning position and 22 losing ones. Only winner was Mechanical Technology (MKTY). I don't mind the roller coaster ride but there's a feeling of dread that something worse is just around the corner.
Looking at the updated table of publicly-traded stocks with bitcoin treasuries - it is still showing 57 treasuries owning 7.82% of total BTC. The new addition is a doozy and is based on a Dec 2017 report that the Bulgarian government had seized over 200,000 bitcoins from hackers and presumably still hodling it. Are they the only government hodling BTC?
That said, here are my returns for the last twenty-six weeks based on the percentage gain/loss on the valuation tab on my discount brokerage summary page.
Enterprise
MicroStrategy (MSTR):+201.4% (May 14/21) +258.8% (May 7/21) +280.0% (Apr 30/21) +254.5% (Apr 23/21) +301.1% (Apr 16/21) +311.1% (Apr 9/21) +306.8% (Apr 1/21) +260.8% (Mar 26/21) +349.2% (Mar 19/21) +353.3% (Mar 12/21) +258.6% (Mar 5/21) +333.9% (Feb 26/21) +457.3% (Feb 19/21) +498.1% (Feb 12/21) +366.1% (Feb 5/21) +256.9% (Jan 29/21) +233.7% (Jan 22/21) +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 stock price down last week. I won my bet as MSTR bought another $15M BTC - their stockpile at 91,850 BTC (worth over $4B).
Tesla (TSLA): -22.4% (May 14/21) -11.3% (May 7/21) -5.3% (Apr 30/21) -1.1% (Apr 23/21) +0.6% (Apr 16/21) -7.8% (Apr 9/21) -9.8% (Apr 1/21) -15.4% (Mar 26/21) -11.0% (Mar 19/21) -12.9% (Mar 12/21) -23.8% (Mar 5/21) -13.5% (Feb 26/21)
Eleven losing weeks out of twelve since my Feb 26 purchase.
Fintech
Square (SQ): -5.6% (May 14/21) +5.9% (May 7/21) +11.1% (Apr 30/21) +11.9% (Apr 23/21) +16.3% (Apr 16/21) +18.8% (Apr 9/21) +4.2% (Apr 1/21) -3.0% (Mar 26/21) +2.1% (Mar 19/21) +9.9% (Mar 12/21) -1.7% (Mar 5/21) +4.4% (Feb 26/21) +25.6% (Feb 19/21) +23.8% (Feb 12/21) +9.1% (Feb 5/21) -2.0% (Jan 29/21) +1.2% (Jan 22/21) +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)
After adding more bitcoin ($170M) to their stash, Square's returns have been up and down (down 5.6% overall this week) since I bought SQ.
Mogo (MOGO.wt): +160.4% (May 14/21) +200.4% (May 7/21) +248.3% (Apr 30/21) +180.0% (Apr 23/21) +195.5% (Apr 16/21) +326.1% (Apr 9/21) +284.9% (Apr 1/21) +224.5% (Mar 26/21) +357.7% (Mar 19/21) +258.5% (Mar 12/21) +149.2% (Mar 5/21) +200.0% (Feb 26/21) +329.4% (Feb 19/21) +262.3% (Feb 12/21) +92.5% (Feb 5/21) +20.8% (Jan 29/21) +40.4% (Jan 22/21) +66.4% (Jan 15/21) +58.5% (Jan 8/21) -1.5% (Dec 31/20)
MOGO.wts were down for the week. Mogo is a Canadian fintech company with a crypto division.
Last week I received my MOGOcard. Now what can I do with it?
Well, here's my plan - I have transferred fiat currency from my bank to the MOGOcard, but I haven't bought anything yet to earn that 1% cashback in bitcoin.
I just found out that rival Canadian fintech WealthSimple has a $5B valuation. I need to check this out (still on the to-do list).
Banxa (BNXA): +77.0% (May 14/21) +125.8% (May 7/21) +144.9% (Apr 30/21) +160.6% (Apr 23/21) +154.4% (Apr 16/21) +197.0% (Apr 9/21)+170.9% (Apr 1/21) +148.6% (Mar 26/21) +207.8% (Mar 19/21) +108.9% (Mar 12/21) +3.0% (Mar 5/21) +5.5% (Feb 26/21)
Self-described as the Paypal of crypto, Banxa is a name I have encountered before. While trying to make a deposit on Binance, I remember Banxa was one of 2 names involved in their payment processing, the other being Simplex.
Bitcoin Miners
Bitfarms (BITF):+1227.3% (May 14/21) +1471.6% (May 7/21) +1274.9% (Apr 30/21) +825.6% (Apr 23/21) +960.2% (Apr 16/21) +1227.3% (Apr 9/21) +1194.2% (Apr 1/21) +1204.5% (Mar 26/21) +1281.1% (Mar 19/21) +1212.8% (Mar 12/21) +1055.4% (Mar 5/21) +1121.7% (Feb 26/21) +1542% (Feb 19/21) +804.9% (Feb 12/21) +676.5% (Feb 5/21) +573.0% (Jan 29/21) +537% (Jan 22/21) +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): +1483.6% (May 14/21) +1532.5% (May 7/21) +1893.7% (Apr 30/21) +1679.2% (Apr 23/21) +2100.5% (Apr 16/21) +2427.8% (Apr 9/21) +2875.4% (Apr 1/21) +2578.3%% (Mar 26/21) +3172.6% (Mar 19/21) +3037.2% (Mar 12/21) +2570.7% (Mar 5/21) +2980.8% (Feb 26/21) +3240.4% (Feb 19/21) +2552% (Feb 12/21) +1352% (Feb 5/21) +1145.1% (Jan 29/21) +1258% (Jan 22/21) +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):+314.4% (May 14/21) +372.1% (May 7/21) +459.8% (Apr 30/21) +326.4% (Apr 23/21) +426.1% (Apr 16/21) +501.8% (Apr 9/21) +494.6% (Apr 1/21) +397.3% (Mar 26/21) +462.2% (Mar 19/21) +482.6% (Mar 12/21) +432.1% (Mar 5/21) +476.6% (Feb 26/21) +710.8% (Feb 19/21) +376.9% (Feb 12/21) +233.9% (Feb 5/21) +190.7% (Jan 29/21) +208.7% (Jan 22/21) +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):+8.1% (May 14/21) +33.6% (May 7/21) +45.0% (Apr 30/21) +19.4% (Apr 23/21) +50.7% (Apr 16/21) +39.3% (Apr 9/21) +56.4% (Apr 1/21) +64.9% (Mar 26/21) +121.8% (Mar 19/21) +84.8% (Mar 12/21) +79.2% (Mar 5/21) +93.4% (Feb 26/21) +93.4% (Feb 19/21) +90.5% (Feb 12/21) +62.1% (Feb 5/21) +19.4% (Jan 29/21) +22.3% (Jan 22/21) +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)
Fortress Blockchain (FORT):+82.7% (May 14/21) +118.4% (May 7/21) +140.7% (Apr 30/21) +113.9% (Apr 23/21) +171.9% (Apr 16/21) +189.7% (Apr 9/21) +194.1% (Apr 1/21) +189.7% (Mar 26/21) +229.8% (Mar 19/21) +203.1% (Mar 12/21) +176.3% (Mar 5/21) +171.9% (Feb 26/21) +136.2% (Feb 19/21) +27.0% (Feb 12/21) -4.2% (Feb 5/21) -10.9% (Jan 29/21) -1.9% (Jan 22/21)
Marathon (MARA):-9.4% (May 14/21) +23.1% (May 7/21) +46.4% (Apr 30/21) +30.5% (Apr 23/21) +57.7% (Apr 16/21) +98.9% (Apr 9/21) +98.5% (Apr 1/21) +47.0% (Mar 26/21) +74.4% (Mar 19/21) +64.4% (Mar 12/21) +23.2% (Mar 5/21) +24.3% (Feb 26/21) +77.0% (Feb 19/21) +58.3% (Feb 12/21) -6.8% (Feb 5/21)
Riot Blockchain (RIOT):+6.2% (May 14/21) +36.6% (May 7/21) +73.3% (Apr 30/21) +61.8% (Apr 23/21)+88.2% (Apr 16/21) +109.6% (Apr 9/21) +120.1% (Apr 1/21) +104.4% (Mar 26/21) +155.7% (Mar 19/21) +104.1% (Mar 12/21) +72.0% (Mar 5/21) +87.7% (Feb 26/21) +203.6% (Feb 19/21) +111.1% (Feb 12/21) +0.6% (Feb 5/21)
Mechanical Technology (MKTY): +48.9% (May 14/21) +47.4% (May 7/21) +64.2% (Apr 30/21) +58.8% (Apr 23/21) +88.9% (Apr 16/21) +70.4% (Apr 9/21) +124.4% (Apr 1/21) +150.1% (Mar 26/21) +102.5% (Mar 19/21) +52.9% (Mar 12/21) +25.9% (Mar 5/21) +37.6% (Feb 26/21) +122.7% (Feb 19/21) +69.9% (Feb 12/21)
Good Works Acquisition Corp (GWAC):-18.9% (May 14/21) -18.8% (May 7/21) -16.5% (Apr 30/21) -15.9% (Apr 23/21) -14.8% (Apr 16/21) -12.9% (Apr 9/21) -10.7% (Apr 1/21) -10.0% (Mar 26/21) -6.9% (Mar 19/21) +0.1% (Mar 12/21)
DMG Blockchain (DMGI):-30.7% (May 14/21) -47.9% (May 7/21) -41.2% (Apr 30/21) -28.0% (Apr 23/21) -30.5% (Apr 16/21) -14.7% (Apr 9/21) +0.3% (Apr 1/21)
Well, my call - that BITF going to Nasdaq would increase its price - didn't work out. It sold off instead. A terrible week as 9 of 10 miners experienced price drops. Somehow MKTY went up marginally while I averaged down on DMGI.
My purchase of the Good Works SPAC still has not worked out. Time to take it into the woodshed. Might add first, then dump.
Crypto Trading Platforms
Coinbase (COIN):-19.3% (May 14/21) -17.5% (May 7/21) -5.7% (Apr 30/21) -6.2% (Apr 23/21)
Small position so far. Will buy when it dips far enough.
Voyager Digital (VYGR): +2762.3% (May 14/21) +3174.4% (May 7/21) +3441.6% (Apr 30/21) +2858.6% (Apr 23/21) +3282.3% (Apr 16/21) +4178.6% (Apr 9/21) +4289.1% (Apr 1/21) +3609.8% (Mar 26/21) +3805% (Mar 19/21) +2570.9% (Mar 12/21) +2092% (Mar 5/21) +2348.8% (Feb 26/21) +2327.0% (Feb 9/21) +2158.8% (Feb 12/21) +2018.8% (Feb 5/21) +922.1% (Jan 29/21) +766.8% (Jan 22/21) +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)
VYGR dropped again. They've been dropping since April 1. However, it's still up a stellar 2762% gain since the November 20, 2020 week.
BIGG Digital Assets (BIGG): +199.8% (May 14/21) +201.5% (May 7/21) +350.5% (Apr 30/21) +347.1% (Apr 23/21) +583.5% (Apr 16/21) +497.9% (Apr 9/21) +292.3% (Apr 1/21) +235.8% (Mar 26/21) +263.2% (Mar 19/21) +179.2% (Mar 12/21) +165.5% (Mar 5/21) +100.4% (Feb 26/21) +109.0% (Feb 19/21) +61.0% (Feb 12/21) +69.0% (Feb 5/21) +22.8% (Jan 29/21) +17.5% (Jan 22/21) +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)
Price has dropped a fair bit since a month ago. I like BIGG more as a consumer than as an investor. As a consumer, I am eagerly waiting to start trading on their Netcoins crypto exchange subsidiary, having signed up and hoping to trade very soon. (I cannot wait for the Voyager app anymore.)
I also like their Qlue product offering - comparable to product at Chainalysis, which has now privately raised another $100M and has a $2B valuation.
As an investor, I can see that BIGG's valuation may have been too high but previous week's drop may have rectified that.
Diversified Crypto
Galaxy Digital (GLXY): +156.7% (May 14/21) +184.0% (May 7/21) +204.6% (Apr 30/21) +183.2% (Apr 23/21) +194.4% (Apr 16/21) +185.3% (Apr 9/21) +118.2% (Apr 1/21) +77.0% (Mar 26/21) +142.7% (Mar 19/21) +54.3% (Mar 12/21) +49.9% (Mar 5/21) +44.7% (Feb 26/21) +99.3% (Feb 19/21) +136.3% (Feb 12/21) +67.1% (Feb 5/21) +13.8% (Jan 29/21) +18.8% (Jan 22/21) +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)
Another week of dropping prices. GLXY is a keeper with its planned US up-listing in the second half of 2021. With the acquisition of Bitgo, things looking better. Their market cap is still only $2.75B CAD. It's very obvious they will need to be on a bigger exchange.
I'm of the opinion that GLXY should have a market cap above VYGR ($2.91B), which is slowly happening.
Bitcoin Funds (Closed-end)
3iQ The Bitcoin Fund (QBTC): +115.8% (May 14/21) +145.1% (May 7/21) +146.7% (Apr 30/21) +122.8% (Apr 23/21) +169.7% (Apr 16/21) +158.3% (Apr 9/21) +159.3% (Apr 1/21) +134.4% (Mar 26/21) +154.3% (Mar 19/21) +145.2% (Mar 12/21)+111.4% (Mar 5/21) +100.1% (Feb 26/21) +124.2% (Feb 19/21) +120.1% (Feb 12/21) +78.0% (Feb 5/21) +59.6% (Jan 29/21) +57.4% (Jan 22/21) +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)
Exchange traded funds - ETF
Purpose Bitcoin ETF - (BTCC):+6.6% (May 14/21) +22.0% (May 7/21) +21.3% (Apr 30/21) +8.1% (Apr 23/21) +30.9% (Apr 16/21) +24.1% (Apr 9/21) +25.0% (Apr 1/21) +14.4% (Mar 26/21) +25.3% (Mar 19/21) +20.5% (Mar 12/21) +4.7% (Mar 5/21)+0.6% (Feb 26/21)
Evolve Bitcoin ETF - (EBIT): +1.4% (May 14/21) +16.6% (May 7/21) +16.9% (Apr 30/21) +5.6% (Apr 23/21) +28.8% (Apr 16/21) +21.6% (Apr 9/21) +23.4% (Apr 1/21) +13.1% (Mar 26/21) +23.1% (Mar 19/21) +18.3% (Mar 12/21) +4.2% (Mar 5/21) -0.1% (Feb 26/21)
CI Galaxy Bitcoin ETF - (BTCX): -11.5% (May 14/21) +1.5% (May 7/21) +1.5% (Apr 30/21) -7.6% (Apr 23/21) +3.1% (Apr 16/21) -2.6% (Apr 9/21) -1.3% (Apr 1/21) -9.4% (Mar 26/21) -1.5% (Mar 19/21)
So far, BTCC, North America's first BTC ETF, has consistently eked out a small lead despite their rivals EBIT and BTCX having lower management fees - the benefits of a first mover advantage.
Actual Bitcoin
BTC purchased off Coinbase at $50/week: +118.3% (May 14/21) +186.6% (May 7/21) +190.0% (Apr 30/21) +166.7% (Apr 23/21) +187.5% (Apr 16/21) +215.1% (Apr 9/21) +216.4% (Apr 1/21) +202.2% (Mar 26/21) +220.7% (Mar 19/21) +248.7% (Mar 12/21) +196.7% (Mar 5/21) +165.8% (Feb 26/21) +241.5% (Feb 19/21) +183.7% (Feb 12/21) +146.1% (Feb 5/21) +119.2% (Jan 29/21) +121.7% (Jan 22/21) +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 https://www.bitcoindollarcostaverage.com/)
Conclusion:
Good week or bad, it has still been an exciting six months nurturing this portfolio.
One always needs to keep an eye on two directions - the possibilities of a BTC super cycle and a giant crash in the near future.
My long term holds - all the ETFs, GLXY, VYGR.
