Sirwin
Sirwin

My Crypto Stock Portfolio (at Jan 29/21)

By Raymo | Raymo Investment Blog | 1 Feb 2021


What a weird week that was, what with the Reddit WallStreetBets GME (GameStop) short squeeze and the subsequent Robin Hood stock buy restrictions. That foreboding sense of a party ending badly felt very real to me. But in the end, what felt like a bad week was actually not that bad. Almost half of the Crypto stocks that I own on the list of  publicly-traded stocks with bitcoin treasuries  went up and half went down.

Regarding that list, I noticed that there was a new entry - Marathon Patent Group (MARA) - which I believe is a bitcoin miner.  They had news detailing their purchase of $150 M worth of bitcoin (4813 BTC).  Maybe it's time to buy some MARA and RIOT (the other miner on NASDAQ), so that I'll have the top 10 publicly-traded bitcoin stocks in my portfolio.

Next week we will see MSTR holding an event to reveal their bitcoin playbook - they are calling it a Bitcoin for Corporation summit .

Wonder what's in that playbook? Can we expect more FUD to drive down the BTC price so these corporations can get in?  Maybe one should buy more MSTR since they will be a major beneficiary.

In the meantime, here are my returns for the last twelve 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):  +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 still moving up. their BTC holdings are up 110% vs the stock up 257%. Over the last month, MSTR stock has risen faster than its BTC holdings but one factor affecting their BTC holdings is the continuing purchase of more bitcoin, having bought the dip at higher prices last week. They will be a major beneficiary of their event especially when institutions are using MSTR as a BTC proxy. 

Square (SQ): -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 more than tripled in value from $50M to $158M but their stock price is now down 2%. However, I see them making another $50M buy or maybe more.

Mogo (MOGO.wt): +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)

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): +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): +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): +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): +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): -10.9% (Jan 29/21) -1.9% (Jan 22/21)

The miner group continue to be somewhat lackadaisical - all fell except for BITF - the one miner that is not on the list due to them selling off their mined supply quickly instead of holding on. At some point, I will need to buy some MARA and RIOT.

Crypto Trading Platform

Voyager Digital (VYGR):  +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 922% gain since the November 13, 2020 week.

Last week, there was a lot of hype on Voyager, especially their token VGX.  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.

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):  +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 their subsidiaries is netcoins.ca, a Canadian crypto exchange where I might start trading on.

Bitcoin Funds

3iQ The Bitcoin Fund (QBTC): +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): +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) 

The 3iQ Bitcoin Fund was up and GLXY fell back a little. Nothing to worry about but I need to explore the reasons why-need to look closer. Galaxy will be presenting at the MicroStrategy event.

Actual Bitcoin

BTC purchased off Coinbase: +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 bitcoindollarcostaverage.com)

Conclusion:

With the GME situation, I'm feeling it's close to a top in the stock market. Even if bitcoin stocks are doing well, the baby could be thrown out with the bath water. when margin calls come a calling.

Coming week, we'll be watching what comes out of the MicroStrategy summit.

 

 

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Raymo
Raymo

Crypto/microcap/domain investor.


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