I have taken a small position in Galaxy Digital Holdings Ltd. (TSX-GLXY), a Toronto Venture exchange company with an opaque share structure and very low liquidity. On an average day about $50k of stock is traded. The stock closed today just above $2 and there is 66.93 million shares out, giving it a market cap of just under $130 million.… Read More »
Regular readers of my newsletter know I never indulge in buying or selling Bitcoin futures without covering my positions, or “hedging” so to speak. It’s an iron-clad rule I never break. Never ever buy a futures contract without covering position. Never put yourself in a position to lose money. Except for yesterday. I broke the rule. I went… Read More »
It has been another mediocre week of trading for Hut 8 (HUT-TSXv). After reaching a high of $2.64 (CAD) last Monday, it slumped to $2.43 at close of trading Thursday. Trading on the Toronto Venture Exchange has been miniscule. Yesterday only 27,795 shares were traded. No day this week has seen more than 50,000 shares traded. Looking at these… Read More »
The New Currency Frontier newsletter exists solely for analyzing cryptocurrency ventures that have potential to generate outsized investments returns. This year, to the point of tedium, we have been banging the drum on bitcoin and bitcoin mining stocks. If 200% plus returns don’t excite you, then reading the newsletter has been a chore for my readers in 2019.… Read More »
Time for a sanity check. With Bitcoin above $11 K USD (at least for now), market cap is $210 billion. Let’s compare bitcoin with other world currencies: 1. The M1 supply of Canada’s currency was $777 billion USD in May 2019. 2. M1 supply of Singapore was $137.5 billion in the same month. 3. M1 supply of Japan, second-largest economy in the world: $7.42 trillion. 4. And… Read More »
This chart should explain everything: For all of 2019, I have been writing about bitcoin and ignoring the rest of the cryptocurrency universe. The reason is simple: Excluding Litecoin and Binance coin (and I will discuss those coins in a minute), the returns on altcoins this year have been subpar. If you are an owner of Ripple or… Read More »
