Sirwin
Sirwin

My Crypto Stock Portfolio (at Feb 19/21)

By Raymo | Raymo Investment Blog | 22 Feb 2021


 

(DISCLAIMER - This is not financial advice; this post is for entertainment purposes only.)

I see Tesla's bitcoin holdings are finally included on the list of publicly-traded stocks with bitcoin treasuries. Now I have a small problem. Since I own Tesla shares and had seen 1000% gains already, how can I track its future gains as a result of purchasing bitcoin and not the gains from before? I guess I could buy some new Tesla shares on another account and start fresh, free of previous gains. Actually, that sounds like a plan. First thing Monday. Check.

Another piece of breaking news or is it old news? MicroStrategy doing another $1B convertible notes financing at 0% interest. Even with BTC at $55,000.

Is this the start of a new bitcoin super cycle? Or will there be a crash in April? Is the majority expecting a December 2021/ January 2022 peak and subsequent dump? Are there too many people in this camp? With people front running, will the dump come earlier? Like the summer or early fall? Questions to ponder.

My new goal to take the cost out of my bitcoin stock purchases. I want to harvest my portfolio so I'm only holding free shares. It's getting close as I only have a couple positions where I spent over $1000. The majority of my buys were below $1000, so do I even need to take some off the table at this stage when BTC is at $55,000 and the Coinbase direct listing is imminent?

In the meantime, here are my returns for the last fifteen weeks based on the percentage gain/loss on the valuation tab on my discount brokerage summary page.

Name   Ticker BV Price Mkt Price Return

MicroStrategy MSTR $172.94 $963.72 457%

Square   SQ $220.28 $276.57 26%

Mogo MOGO.wt $2.60 $11.38 338%  

 

Hut 8 HUT.WT $0.27 $8.88 3238%

Hive HIVE $0.83 $6.75 710%

Bitfarms BITF $0.48 $7.93 1542%

Fortress    FORT $0.22 $0.53 137%

Cypherpunk HODL $0.18 $0.34 93%

Riot  RIOT $29.25 $88.80 204%

Marathon MARA $30.44 $53.87 77%

Mechanical Tech MKTY $5.30 $11.80 123%

 

Bigg  BIGG $0.38 $1.22 222%

Voyager VYGR $0.78 $18.90 2326%

Galaxy GLXY $8.03 $16.01 99%

3iQ Bitcoin Fund QBTC $30.64 $68.69 124%    

       

Ether Capital ETHC $1.11 $3.61 226%

3iQ Ether Fund QETH $11.00 $42.50 286%

Defi Holdings   DEFI $1.09 $3.00 176%

 

Ethereum Stocks

Ether Capital (ETHC): +225.6% (Feb 19/21) +231.9% (Feb 12/21) +249.0% (Feb 5/21) +170.6% (Jan 29/21) +233.7% (Jan 22/21) +238.2% (Jan 15/21) +277.0% (Jan 8/21) +197.6% (Dec 31/20) +57.8% (Dec 24/20) +68.7% (Dec 18/20) +38.9% (Dec 11/20) +38.0% (Dec 4/20) -17.0% (Nov 27/20)

3iQ The Ether Fund (QETH): +190.5% (Feb 19/21) +230.0% (Feb 12/21) +234.9% (Feb 5/21) +139.2% (Jan 29/21) +119.5% (Jan 22/21) +94.2% (Jan 15/21) +117.7% (Jan 8/21) +39.0% (Dec 31/20) +11.6% (Dec 24/20) +10.4% (Dec 18/20) -3.9% (Dec 11/20)

Defi Holdings (DEFI.neo): +175.9% (Feb 19/21) +49.0% (Feb 12/21) -9.9% (Feb 5/21)

The Ethereum stocks have been rocking. I bought a relatively unknown company that has been renamed Defi Holdings.  It's like 2017 when every company had 'blockchain' in their name. Now it's 'DeFi'.  At least, I'm early, so there's that.

Enterprise

MicroStrategy (MSTR): +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)  +11.2% (Nov 13/20)

MSTR stock price took a slight step backwards as they continue their audacious plan to buy more bitcoin. There's another $600 M (expanded to $1B) convertible notes financing at 0% coupon rate.

Their BTC holdings were up 247% vs the stock up 457% . Over the last few months, MSTR stock has risen faster than its BTC holdings but one factor is that MSTR has continued to purchase more bitcoin, buying at ever increasing prices. They were a major beneficiary of their own event with higher amounts of BTC holdings ($3.9B) and a surging stock price. 

Square (SQ): +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)

Square's BTC stash has increased over 5x in value from $50M to $263M but their stock price was only up 26%. I'm still waiting for them to make their next buy.

Mogo (MOGO.wt): +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)

Finally, Mogo showed up on the bitcoin treasury list as I predicted they would. I bought these warrants two months ago and this week the MOGO warrants continued to deliver, now up 329%. Mogo is a Canadian fintech company with a crypto division. (My first $100 bitcoin buy on the platform is now over $500.)

Bitcoin Miners

Bitfarms (BITF): +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) +22.12% (Nov 13/20)  

Hut 8 Mining (HUT.wt): +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) -32.3% (Nov 13/20)

Hive Blockchain (HIVE): +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):  +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): +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): +77.0% (Feb 19/21) +58.3% (Feb 12/21) -6.8% (Feb 5/21)

Riot Blockchain (RIOT): +203.6% (Feb 19/21) +111.1% (Feb 12/21) +0.6% (Feb 5/21)

Mechanical Technology MKTY: +122.7% (Feb 19/21) +69.9% (Feb 12/21)

Bitfarms stock exploded this week and my returns since first purchase is over 1500% as the Canadian miners (BITF, HIVE, HUT, HODL, FORT) seem to be playing catch-up to their American counterparts (RIOT, MARA). Still have a ways to go.

Adding both RIOT and MARA three weeks ago allowed me to compare both easily on my Yahoo Finance app and this week RIOT pulled ahead. I'm not used to the constant updating on the tickers. There's so much movement in price every second. (Maybe the easy money has been made but I feel that the two can signal to me if there is a slowing trend and therefore, can give me an idea on when to sell my earlier positions.)

Seeking Alpha story may have sparked some price movements in my last buy -MKTY - during the week but the kicker could be an imminent NASDAQ up-listing, which according to the company, could be forthcoming within the next couple months.

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 Galaxy (which has started a mining operation) takes them out. To do that, GLXY needs to have a much larger market cap.

Crypto Trading Platform

Voyager Digital (VYGR):  +2327.0% (Feb 19/21) +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) +45.1% (Nov 13/20)

VYGR continued its torrid pace upwards with a stellar 2327% gain since the November 20, 2020 week. Price movement were slower this week, possibly affected by the closing of the latest $100M financing. There's so much good news for the company - a revised loyalty program, the VGX token soaring, valuation comparisons to the imminent Coinbase Direct Listing? CEO Steve Ehrlich continued to spread the news all over the place (especially their Loyalty Program), appearing before both stocks and crypto crowds. (I noticed a language change in one of his presentations - sounds like the Canadian offering of the Voyager app might now be the first half of the year instead of Q1. Hope it's faster as I want access to the Voyager app and to buy that sweet VGX token, which is now up to $6.)

Now that the financing is done, what can we expect? Well, one thing is that they are expecting 100 M users on the platform - from Canada, New York in the first half of the year and Europe in the second half. Also expect more acquisitions as CEO Ehrlich was involved in 8 acquisitions in 7 years, while at ETrade and Lightspeed. The future is looking good.

BIGG Digital Assets (BIGG):  +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)

One of BIGG's subsidiaries is netcoins.ca, a Canadian crypto exchange where I might start trading on. I did buy more BIGG shares after watching their presentation with Adelaide Capital.

I like their Qlue subsidiary - very much like Chainalysis which has privately raised $100m.

Bitcoin Funds

3iQ The Bitcoin Fund (QBTC): +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) -11.1% (Nov 13/20)

Galaxy Digital (GLXY): +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) 

Once again the 3iQ Bitcoin Fund went up and GLXY went down. Galaxy presented at the MicroStrategy event and despite some early increase, the stock price fell back this week. They should be a major beneficiary of the MSTR event as they presented on the second day, pitching their 'white glove' services to 8000 executives. Only time will tell when all the value in their various divisions begin to unlock.

Actual Bitcoin

BTC purchased off Coinbase: +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) +39% (Nov 13/20)  (using https://www.bitcoindollarcostaverage.com/)

 

Conclusion:

One needs to prepare for both a BTC super cycle and giant crash in the near future.

The goal for next couple weeks - begin harvesting my portfolio and take out my cost.

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Raymo
Raymo

Crypto/microcap/domain investor.


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