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Thread: Bitcoin

  1. #601

    Default Re: Bitcoin

    I tried to short GBTC this morning for a trade, but Fidelity didn't have any shares available. Maybe for the better?

    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor. Do your own due diligence.

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  3. #602

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    Default Re: Bitcoin

    Interactive Brokers doesn't have any either. Wonder if it has to do with the fact that it's trading at a 24% premium to NAV?

    https://ycharts.com/companies/GBTC/d...premium_to_nav

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  5. #603

    Default Re: Bitcoin

    It would have been a nice short... but I would have had to be quick.

    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor. Do your own due diligence.


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  7. #604

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    Default Re: Bitcoin

    My goodness what a ride. $20K today?

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  9. #605

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    Default Re: Bitcoin

    I just can't get into this bitcoin thing, especially now with sentiment so high. Anecdotally I've noticed a great deal of recent podcasts and blogs talking up bitcoin and how it will only go up due to it's limited supply. It is a bit alarming when you hear these young twenty year olds talking about being worth so much because of their bitcoin speculations. Most are confused with the idea that long term things only go up.

    As a means to "move currency" it's fantastic and has likely greased the wheels of the shadow banking system.

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  11. #606

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    Default Re: Bitcoin

    At least gold is something you can physically hold. Words from Downtown:

    If you’re long gold as an inflation hedge, and you see copper and oil rallying while the dollar falls, you’re probably like WTF? Then you look at Bitcoin and see that it’s rising. Then you go on Twitter or Reddit and become exposed to the views of the new cool-kid crypto libertarians from the Valley who are saying Bitcoin is the new gold. And then the FOMO just ripples through every nerve-ending in your body, the envy and desperation to be a part of it crashing like a wave against the side of your skull. You’re anxious and excited and nothing but a buy order will satisfy the chemical cocktail flooding the surface of your brain. Don’t be embarrassed, people have done capricious things in the financial markets for lesser reasons.
    https://thereformedbroker.com/2020/1...n-is-going-up/

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  13. #607

    Default Re: Bitcoin

    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor. Do your own due diligence.

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  15. #608

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    Default Re: Bitcoin

    Add another big buyer. Mass Mutual, an insurance company, bought $100M worth.

    An insurance company is not buying it as a speculation to sell tomorrow. Wonder what percent of their assets this constitutes.

    https://www.wsj.com/articles/massmut...se-11607626800

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  17. #609

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    Default Re: Bitcoin

    One of my favorite small caps, Cleanspark (CLSK), shot up 17% today on news that it bought a bitcoin mining company. CLSK was already a great company, and now it adds a crypto component to it.

    https://finance.yahoo.com/news/clean...142000644.html

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  19. #610

    Default Re: Bitcoin

    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor. Do your own due diligence.

  20.  
  21. #611

    Default Re: Bitcoin

    New highs for BTC.

    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor. Do your own due diligence.

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  23. #612

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    Default Re: Bitcoin

    I do wonder if Paypal (PYPL) is slightly tethered to Bitcoin now that they have a revenue stream coming from the sale of it on their platform. The stock is breaking out of a large channel on its chart today.


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