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
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 and this is not investment advice. Please do your own due diligence.
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
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 and this is not investment advice. Please do your own due diligence.
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.
At least gold is something you can physically hold. Words from Downtown:
https://thereformedbroker.com/2020/1...n-is-going-up/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.
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
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
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
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
New highs for BTC.
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
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.
S&P500 (C Fund) (delayed) (Stockcharts.com Real-time) |
DWCPF (S Fund) (delayed) (Stockcharts.com Real-time) |
EFA (I Fund) (delayed) (Stockcharts.com Real-time) |
BND (F Fund) (delayed) (Stockcharts.com Real-time) |
||
Yahoo Finance Realtime TSP Fund Tracking Index Quotes |
Bookmarks