@Raymo 26 April 2021 more from that month

My Bitcoin Stocks Portfolio (at 21/04/23)

(DISCLAIMER - This is not financial advice; this post is for entertainment purposes only.) Don't think I can mince words here - last week was a terrible week to be in bitcoin stocks. Only one bitcoin stock in my portfolio actually went up (Banxa - BNXA). Rest were all losers. Had to activate mode to save-myself. I even sold a second small portion of my best gaining stock (VYGR) after watching it drop from my high of 4289% a couple weeks ago. I have learnt a lesson - never buy a week before bitcoin option expiry date on the fourth Friday of the month. For the week, I bought a little Coinbase (COIN) at a relative low, dollar cost averaged into a bitcoin ETF (BTCX) and a miner (DMGI), dumped half position of another miner (GWAC) and sold some of the previously mentioned free riding VYGR. Looking at the updated table of **publicly-traded stocks with bitcoin treasuries** - it is showing 54 treasuries owning 6.82% of total BTC. New addition this week appear to be Phunware with 26 BTC. Still can't get over the news that **members of the Ukrainian governments hold a massive 46,351 BTC**. I expected more European and Asian treasuries to be added to the table and even sovereign funds but who expected 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-three weeks based on the percentage gain/loss on the valuation tab on my discount brokerage summary page.

**Enterprise** MicroStrategy (MSTR):**+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 fell along with everyone else last week. No new BTC purchased - their stockpile still at 91,579 BTC (worth over $4.8B). Interesting that MSTR market cap is only $5.9B, 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 Mid-week, MSTR CEO Michael Saylor debated gold promoter Frank Giustra. Most gave Saylor the win. https://www.youtube.com/watch?v=coHC_9ApBdg Tesla (TSLA):**-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) Eight losing weeks out of nine since my Feb 26 purchase. I should top up next week. **Fintech** Square (SQ):**+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 (up 11.9% overall this week) since I bought SQ. Mogo (MOGO.wt):**+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. (The good thing is that my first $100 bitcoin purchase on the platform is now worth over $500.) Next item on the checklist is the MOGOcard, which I have applied for. https://app.mogo.ca/1KkCi2m2Hbb?shared=rfrcnt&referral_code=1XJQVNJ6 Banxa (BNXA):**+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. https://www.youtube.com/watch?v=cKNQ7NViUd0 BNXA shares were the only shares that went up on the week. Any time **I hear about M&A in crypto**, this is one name I often think of. They can be bought out by either the newer crypto exchanges or the traditional finance entities looking for a crypto foothold. https://decrypt.co/63270/crypto-fundraising-startup-acquisitions-pwc **Bitcoin Miners** Bitfarms (BITF):**+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):**+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): **+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): **+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):**+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):**+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): **+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):**+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): **-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):**-28.0%** (Apr 23/21) **-30.5%** (Apr 16/21) **-14.7%** (Apr 9/21) **+0.3%** (Apr 1/21) Another down week for the miners. I dumped half my position in GWAC as my purchase of the Good Works SPAC still has not worked out but three facts remain - 1) GWAC will merge with Cipher Mining, a subsidiary in the BitFury Group; 2) BitFury holds several million shares of Hut 8; 3) Chairman of Hut 8 Bill Tai was an early investor in BitFury. Could BitFury take a run at Hut 8? and will 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 Having said that, I have tightened up on my miners. as I have way too many, especially the latterly ones, which I have been buying at higher prices. This space is extremely competitive and I might trim some more positions. **Crypto Trading Platforms** Voyager Digital (VYGR):**+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 has been dropping since April 1 but it's still up a stellar 2858% gain since the November 20, 2020 week. Previous week I took out my original cost and this past week, I panicked and sold another 100 shares so I could experience a 2900% gain at least. Less good news but there's still some positives for the company - a revised loyalty program, network effects. (VYGR's market cap is $3.24B CAD vs pre-IPO USD valuations of Robin Hood ($40B ), eToro ($10B) and Coinbase's $58.01B BIGG Digital Assets (BIGG): **+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) A decent price drop after four solid weeks for BIGG as investors have been unlocking the value from BIGG's subsidiaries - one being Netcoins.ca, a Canadian crypto exchange where I have signed up and hope to trade on. I cannot wait for the Voyager app anymore. 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): **+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 solid month of increasing prices with a slight hiccup last week, this one is a keeper what with the planned US up-listing in the second half of 2021. Things are looking up. Their market cap is still only $3.24 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 ($3.24 B), which is slowly happening as the market cap of both are now the same at $3.24B this week. 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): **+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)  3iQ is about to introduce a BTC ETF, the fourth in Canada. My question would be - do I get out at 122% gain or leave it alone and wait for the conversion to an ETF? **Exchange traded funds - ETF** Purpose Bitcoin ETF - (BTCC): **+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): **+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): **-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) Meanwhile, the prices of all three Canadian ETFs dropped while awaiting their fourth rival. So far, BTCC, the world's first BTC ETF, has consistently eked out a small lead despite their rivals EBIT and BTCX having lower management fees.   I did dollar cost average into BTCX last week. **Market Cap comparisons over the last 4 weeks** - BTCC $113.05 M $129.12 M $100.12 M $92.87 M EBIT $66.96 M $83.87 M $75.01 M $71.10 M BTCX $61.71 M $59.19 M $46.38 M $42.51 M Still looks like first mover advantage despite fee differences. **Actual Bitcoin** BTC purchased off Coinbase at $50/week: **+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:** Price drops all around but portfolio is still up by a fair bit. 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, BNXA.