Looking over my stock portfolio, I see I have 2 crypto-related stocks - one is MicroStrategy (MSTR), trading on the NASDAQ, the other is BitFarms (BITF), which trades on the Canadian TSX venture exchange.
As I'm in Canada, my portfolio consists of mainly Canadian stocks. My U.S. exposure is fairly small at this point and is more experimental. I don't mind playing small ball and I only play when I have US dollars on hand. I have no intentions of converting CAD to USD in order to trade U.S. stocks as I'm doing okay with Canadian stocks. (As an aside, I employed the same strategy with my 2 Tesla shares; it went up huge, got the 5-1 split and now I have 10 shares. In time, I might play the U.S. stocks more.)
With MSTR - I only bought one share at around $170. Upon purchase, the price gained around 9%, but now it's down about 5%. I will add only if I somehow receive some USD. I bought it mainly so I have something to compare to the actual bitcoin price.
For the last few weeks, I've been following MicroStrategy CEO Michael Saylor across the internet, mainly via his interviews on various video podcasts on Youtube. I feel a certain kinship with Saylor. as he's also a domain name investor, although I'm certainly not in his league. (He sold voice.com in 2019 for $30 million.)
As for Bitfarms, I've lost about 48% so far. I bought it at 55 cents, now it's 29 cents. It's volatile - the way I like it. What they do is fascinating to me. They mine bitcoin, ethereum and litecoin utilizing thousands of mining machines but they also have access to cheap hydro in Quebec. Per a recent news release, they bought 1000 miners more. I want to see how high it could shoot up if BTC moons. I admit I haven't done as much due diligence on this stock as I should have. I have a feeling it won't 5X if BTC does 5X.
In addition, I purchased a small amount of Bitcoin on Coinbase. I'm down about 7-8%. Doesn't matter as I plan to hodl. and buy a little each month via dollar cost averaging.
Ultimately, I want to compare the performance of MSTR and BITF against my BTCs and to see if the stocks are really a safer play?
