What a fantastic week we had in the bitcoin stocks world. Amazing returns. Ridiculous returns. Amazingly ridiculous returns. Bitcoin hitting all time highs, touching $23,624.98 per CoinGecko.
Some changes were made to the publicly-traded stocks with bitcoin treasuries list. Another publicly traded institution was added into the space- an European company trading in the London Stock Exchange - Ruffer Investment Company added 45,000 BTC worth $744M into their treasury.
So without further ado, here are my returns for the last five weeks based on the percentage gain/loss on the valuation tab on my discount brokerage summary page.
Enterprise
MicroStrategy (MSTR): +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)
(Note- MSTR's BTC holdings is up 101.8% while the stock is up only 74.2%- a flip-flop from the last couple weeks. Their percentage holding of BTC was affected by MSTR purchasing $50 M more BTC the previous week.)
Square (SQ): +6.9% (Dec 18/20) -1.7% (Dec 11/20)
Bitcoin Miners
Bitfarms (BITF): +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): +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): +201.5% (Dec 18/20) +55.0% (Dec 11/20) +49.0% (Dec 4/20) +16.0% (Nov 27/20)
Cypherpunk Holdings (HODL): +0.4% (Dec 18/20) -2.8% (Dec 11/20)
(Note - Amazing run for the miner group. I sold some more BITF to buy into a solar stock. One of the crypto newsletter guys I subscribe to has exited some positions. I'm not as risk-adverse and my positions are not that large so I'm letting these stocks ride. Also, note that the Hut 8 warrants adding more torque than the common stock price. )
Crypto Trading Platform
Voyager Digital (VYGR): +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)
Best gains over the last 5 weeks.
BIGG Digital Assets (BIGG): +21.4% (Dec 18/20) -12.9% (Dec 11/20)
Bitcoin Funds
3iQ The Bitcoin Fund (QBTC): +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): +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)
(Note - Returns now positive. Galaxy is behind the latest mutual fund entry (CI Galaxy Bitcoin Fund) to the Toronto Stock Exchange. Don't think I will buy it. Also, unlikely to follow through with additional funds to the 3iQ Bitcoin Fund as I don't intend to pay a premium to enter into a more complex play when a simpler play is to be had (ie. buy GLXY itself or the miners or just buy BTC. Re GLXY, I will wait on it as I don't want to fomo in there.)
Actual Bitcoin
BTC purchased off Coinbase: +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:
Just an amazing week with hopefully more to come. Every stock in this portfolio went up. Re MSTR, the better return was in their BTC treasury holdings over their stock price return.
So far, I've made 366.1% on VYGR, which is making more sense each week since they have an exchange platform, so whether crypto goes up or down, higher volumes mean more trading dollars made on the platform. Do I sell? Not now. Their market cap is only $427M CAD vs Robinhood ($11B USD) and eTrade ($12.3B USD). Note VYGR CEO Steven Erlich was former CEO of eTrade.
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.
