My Bitcoin Stocks Portfolio on Monday Feb 8/21

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3 years ago

(DISCLAIMER - This post is not financial advice. It's meant for entertainment purposes only.)

Monday morning and I wake up to the news that Tesla had bought $1.5 billion dollars worth of bitcoin. Boom goes the dynamite! Euphoria!

I checked my Yahoo Finance app and I see the stocks (MARA, RIOT) I bought last week ripping out 30-40% gains. As I had bought only small positions in these two bitcoin miners, my intention was to use them as warning signs (like canaries in a coal mine) since they had big runs already. If their week-to-week movements start skewing negatively, then I would start trimming off my other larger and earlier positions in the other bitcoin mining stocks like HIVE, BITF and HUT 8.

But then with the Tesla move, I can see the dominoes falling. Will Apple, Google or Microsoft follow soon? and all the others in the Fortune 500? Game theory in action. Or viewed another way, musical chairs with the last one having no seat at all and having to buy bitcoin at much higher prices.

I made a few trades in the morning. I bought more BIGG after watching the conference call put out by Adelaide Capital last week. I found out that their Qlue product basically competes with a similar product at Chainalysis, a private company that has raised $100M and has a $1B valuation. The call also included other bitcoin companies like Voyager (VYGR), 3iQ and Hut 8.

I also took in some of the MicroStrategy's Bitcoin for Corporations videos, especially the one with Galaxy Digital's Mike Novogratz being interviewed by Michael Saylor.

After the day was over, my 3-month old bitcoin portfolio looked like this:

A few comments - some mind-boggling returns like MSTR over 500%, MOGO.wts at 185%, Voyager over 2400%, Hut 8 warrants almost 1800%, BITF over 700%. Some positions need to be trimmed - maybe later.

I forgot to include the BIGG shares I bought today, which would decrease the returns on BIGG above. Also, I need to make a decision whether to include my previously purchased Tesla shares or not.

Note that Galaxy has yet to have a big run yet, although I did make a second purchase previously.

For details on my portfolio results last week, see here.

Onwards and upwards.

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Avatar for Raymo
Written by
3 years ago

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