Sirwin
Sirwin

My Crypto Stock Portfolio (at Jan 22/21)

By Raymo | Raymo Investment Blog | 26 Jan 2021


My Crypto stocks were due for a correction and it came this week at the same time the Biden administration took over from Trump's. That Janet Yellen swipe at bitcoin users - that most are using it for illegal matters - did not help. All the bitcoin stocks dropped on the list at  publicly-traded stocks with bitcoin treasuriesI did trim my BITF and HUT.wt positions and bought a new one - Fortress Blockchain (FORT). The rest I left alone.

Just in - MSTR appears to have bought the dip and preparing for a Bitcoin for Corporation summit in early February.

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

Ethereum Stocks

Ether Capital (ETHC): +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): +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)

The Ethereum stocks had a better week than the Bitcoin stocks as they either gained or stayed roughly the same vis-a-vis the previous week.

Enterprise

MicroStrategy (MSTR):  +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 dropped less than 1% from last week. MSTR's BTC holdings are up 106% vs the stock 234%. Over the last month, MSTR stock has risen faster than its BTC holdings. Institutions are using MSTR as a BTC proxy.  MSTR just bought the dip, adding another $10M worth of BTC.

Square (SQ): +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 more than tripled in value from $50M to $155M. but their stock price is only up 1.2%.  I'm waiting for the next $50M bump.

Mogo (MOGO.wt): +40.4% (Jan 22/21) +66.4% (Jan 15/21) +58.5% (Jan 8/21) -1.5% (Dec 31/20)

I bought these warrants the previous week; it's another warrant play, which I have done well with (see HUT.wt below). Mogo is a Canadian fintech company with a crypto division and a directive to allocate some cash to bitcoin. I see it eventually going on bitcointreasuries.org.

Bitcoin Miners

Bitfarms (BITF): +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): +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): +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): +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): -1.9% (Jan 22/21)

The miner group was affected by the dip, especially on Thursday when they dropped a sizable amount but recovered somewhat on Friday. I reacted by trimming my BITF and HUT.wt positions. Sold them to buy more of my largest-sized non-crypto stock. Also had enough leftover to start a position in FORT.

I left HIVE and HODL alone although was tempted to buy more of the latter.

Crypto Trading Platform

Voyager Digital (VYGR): +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)

No longer my highest gaining stock over the last eleven weeks but still an amazing 766.8% gain. Last week, I watched CEO Steve Erhlich on the Alex Mascioli show on Youtube and attended the online SNN conference with the CEO giving the presentation. I heard some good news as Voyager has applied for a license in Canada so Canadians like myself will be allowed to trade on the Voyager app, likely in the first quarter. For myself, if 2020 was about accumulating and holding crypto, then 2021 will be about trading.

Meanwhile, their VGX token has been skyrocketing, climbing to the top 100 coins/tokens on coingecko.com. In less than a week, it went from 29 cents to over $1. Lucky my VYGR has kept up and then some.

I still maintain that if BTC goes down in price, VYGR should be sheltered somewhat as they make money on the spread.

BIGG Digital Assets (BIGG): +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)

Still haven't bought more. There was a financing for $10 million last week - waiting to see if any warrants get listed. One of their subsidiaries is netcoins.ca, a Canadian crypto exchange where I might start trading on.

Bitcoin Funds

3iQ The Bitcoin Fund (QBTC): +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): +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) 

Both the 3iQ Bitcoin Fund and GLXY fell back a little. Nothing to worry about.

Actual Bitcoin

BTC purchased off Coinbase: +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 bitcoindollarcostaverage.com)

Conclusion:

Finally a decent correction to deal with the frothiness in the market. I'm hanging on for the most part. Still overall, my bitcoin stocks are very much in the black.

I heeded the talking heads' advice to brace for a drop in the bitcoin price by taking action to trim some positions, adding to cash and considering whether I should add to smaller positions. What's important for me is not the quantum but the percentage gained.

 

 

 

 

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Raymo
Raymo

Crypto/microcap/domain investor.


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