@Raymo 12 April 2021 edited more from that month

My Bitcoin Stocks Portfolio (at 21/04/09)

(DISCLAIMER - This is not financial advice; this post is for entertainment purposes only.) It was a relatively good week for my Bitcoin stocks portfolio, not a moonshot week but there's a feeling it is imminent. Along the way, we are waiting for the Coinbase April 14 Direct Listing. So one week before their direct listing, Coinbase teased us with a massive blowout Q1 financial - a reported $1.8 B in revenue, up from $1.3 B in 2020. https://www.pymnts.com/earnings/2021/coinbase-first-quarter-earnings-blow-past-last-year/#:~:text=Coinbase%2C%20preparing%20to%20go%20public,on%20Wednesday%20(April%207). And this happened on a week, when the cryptocurrency market cap hit $2 T. Looking at the updated table of **publicly-traded stocks with bitcoin treasuries** - it now shows 53 treasuries owning 6.76% of total BTC. New additions this week were members of the Ukrainian governments with a massive 46,351 BTC. I expected more European and Asian treasuries to be added to the table and even sovereign funds but government officials? http://bitcointreasuries.org/ https://news.bitcoin.com/report-claims-ukrainian-officials-hold-over-2-6-billion-in-bitcoin/ In the meantime, here are my returns for the last twenty-one weeks based on the percentage gain/loss on the valuation tab on my discount brokerage summary page.

**Enterprise** MicroStrategy (MSTR):**+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 was up from last week. Back to buying again, MSTR bought another $15m BTC on Monday, their stockpile increasing to 91,579 BTC (worth over $5.5B). Note that MSTR is apparently 20% of JP Morgan's crypto exposure basket. https://seekingalpha.com/news/3679186-microstrategy-buys-15m-more-of-bitcoin https://cointelegraph.com/news/jpmorgan-launching-crypto-exposure-basket-featuring-microstrategy-and-square Interesting that MSTR market cap is only $6.8B, way down from their $11B high during the internet era **(which was mentioned in this Charlie Rose interview in 2000.)** https://www.youtube.com/watch?v=_J5Lls2fiEE Here's a nice summation video of Michael Saylor and his effect on the bitcoin scene since August 2020. https://youtu.be/1ZV1kdJQgGE Tesla (TSLA):**-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) Still negative returns since my Feb 26 purchase. The market does not seem to like the bitcoin purchase weeks after original purchase despite TSLA making $1B on it so far. **Even the news of consumers being able to purchase a Tesla with bitcoin** (which Tesla will not convert to fiat) led only to a short term spike in price. https://finance.yahoo.com/news/now-buy-tesla-bitcoin-irs-140000307.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAADw4XLZVfzEVJDKP6d_Dj7EGd8nWJprYQl7FICK9kXem3rZ4EQgiXzVxySC00FascyQW7D9IqfkPV8hQwoiZHZhxbcIaTpBS07c-SfjwAChA9-FXmqLy1WA7PHJeuS5EZXFvVNPWx5RbjfizTvU_vKrQ_nlAccRIokvFeiwDjFh I may have to dollar cost average my position. **Fintech** Square (SQ):**+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 (up 18.8% this week) since I bought SQ. Mogo (MOGO.wt):**+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 up with the **news that they have extended their mortgage cashback rewards to include bitcoin.** Mogo is a Canadian fintech company with a crypto division. (My first $100 bitcoin purchase on the platform is now worth over $600.) Nice move on the week. https://finance.yahoo.com/news/mortgage-house-mogo-bitcoin-reward-185706392.html Banxa (BNXA):**+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**, I have encountered this name 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. https://www.youtube.com/watch?v=cKNQ7NViUd0 BNXA shares were up a bit. The good news is that they showed up on bitcointreasuries.org with 136 BTC. Any time **I hear about M&A in crypto**, this is one name I often think of. https://decrypt.co/63270/crypto-fundraising-startup-acquisitions-pwc Another nice move. I should check out the GCFF conference this week. https://nai500.com/events/gcff-2021-investing-in-innovation/ **Bitcoin Miners** Bitfarms (BITF):**+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):**+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): **+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):**+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):**+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):**+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):**+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): **+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):**-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):**-14.7%** (Apr 9/21) **+0.3%** (Apr 1/21) Another roller coaster week for the miners - 3 up, 7 down. Following **some good news on bitcoin mining revenue****,** follow up news had miners hodling more than usual. https://decrypt.co/63755/bitcoin-mining-revenues-hit-record-1-5-billion-in-march https://www.cityam.com/bitcoin-supply-could-struggle-to-meet-demand-as-miners-hodl/ RIOT was involved in a $651 M merger deal, something for the market to look at this coming week. https://www.riotblockchain.com/news-media/press-releases/detail/104/riot-to-acquire-whinstone-creating-a-us-based-industry My purchase of the Good Works SPAC still has not worked out but three facts remain - 1) It will merge with Cipher Mining, a subsidiary in the BitFury Group; 2) BitFury holds around 8 million shares of Hut 8; 3) Chairman of Hut 8 Bill Tai was an early investor in BitFury. Could this be the one that starts a M&A spree? At some point there has to be some **M&A action** in the miner space. You can build an arms race for only so long. Either miners merge with each other or a larger entity like a Galaxy (which has started a mining operation) or a SPAC takes them out. https://decrypt.co/63270/crypto-fundraising-startup-acquisitions-pwc **Crypto Trading Platforms** Voyager Digital (VYGR):**+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 continued its torrid pace upwards with a stellar 4178% gain since the November 20, 2020 week. There's still so much good news for the company - valuation comparisons to the very imminent Coinbase Direct Listing (April 14), a revised loyalty program, network effects. (VYGR's market cap is $4.34B CAD vs pre-IPO USD valuations of Coinbase ($100B), Robin Hood ($40B), eToro ($10B).) Check out a previous **update - Analyst Pat Ackerman on the Alex Mascioli show on Youtube.** They talk among other things, the idea of a takeout in the far future - not from a Robin Hood but a traditional finance type like a JP Morgan, Morgan Stanley. Also noted mention of an eToro $10B valuation upon IPO. https://www.youtube.com/watch?v=-_IPR_EGV7g The only thing I did not like was the delaying of the Voyager app offering to Canadians. What was impending in Q1 is now Q2. Hope it's faster as I want access to the Voyager app as soon as possible so I can buy the VGX token and get interest on other cryptocurrencies. I should ask him at the GCFF conference this week. https://nai500.com/events/gcff-2021-investing-in-innovation/ BIGG Digital Assets (BIGG): **+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) What a great week for BIGG. One of BIGG's subsidiaries is netcoins.ca, a Canadian crypto exchange where I might start trading on if the Voyager app doesn't come through sooner. Previously I did buy more BIGG shares after **watching their presentation with Adelaide Capital.** https://www.youtube.com/watch?v=OXl8k38p51w I also like their Qlue product offering - comparable to product at **Chainalysis, which has now privately raised another $100M and has a $2B valuation.** https://decrypt.co/62968/crypto-forensics-firm-chainalysis-hits-2-billion-valuation **Diversified Crypto** Galaxy Digital (GLXY): **+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)  What a great week and with the planned US up-listing in the second half of 2021, things should be looking up. Their market cap is still only $3.04 B 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 ($4.34 B) although they are are serving different areas within the crypto ecosystem. I re-watched the MicroStrategy summit video, where Galaxy's presentation revealed that **they should be a major beneficiary of the MSTR event as they pitched their 'white glove' services to 8000 executives.** The**y** are involved in direct investments in 90 start-up ventures, a trading desk, derivatives, investment banking, asset management and a $300M fund investing in the virtual space (ie. NFTs, virtual worlds). The value of these various divisions are slowly beginning to unlock. https://www.youtube.com/watch?v=AXYqrqtlMXM **Bitcoin Funds (Closed-end)** 3iQ The Bitcoin Fund (QBTC): **+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): **+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): **+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): **-2.6%** (Apr 9/21) **-1.3%** (Apr 1/21) **-9.4%** (Mar 26/21) **-1.5%** (Mar 19/21) Meanwhile, the two Canadian ETFs continued their steady rise. So far, BTCC, the world's first BTC ETF, has consistently eked out a small lead despite their rival EBIT initiating a price war by reducing their management fee.  **Already a battle is brewing****.** https://coinmarketcap.com/headlines/news/canadas-evolve-bitcoin-etf-triggers-price-war-purpose-american-issuers-pressure/ However, a third ETF has entered the fray - CI Galaxy Bitcoin ETF - whose major selling point - a tiny 0.4% management fee, is further exacerbating the price war. Market Cap comparison - BTCC $100.12 M $92.87 M EBIT $75.01 M $71.10 M BTCX $46.38 M $42.51 M Still looks like first mover advantage despite fee differences. **Actual Bitcoin** BTC purchased off Coinbase:**+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:** An exciting week to look forward to the Coinbase direct listing and more massive gains for my bitcoin stock portfolio but one needs to keep an eye at 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, BNXA.