Historically for crypto, September is by far the worst month of the year, as noted four weeks back: “A Good Argument to Sell, Then Buy Right Back.” Right on schedule, everything tanked: Bitcoin is flirting with $10k, after starting the month at $12,000. Ethereum has gone from a high of $470 down to low $300s. And finally, the folks… Read More »
If you have been paying any attention at all to crypto, you will know that the Defi (Decentralized Finance) sector has been red hot. People trading DeFi tokens have made 1000% return on their investments in ONE DAY. Mind you, people have also lost 99.5% of their investment in one day as well. But let’s not focus on… Read More »
The Ethereum token Serum went up 1000% yesterday in its first day of trading: https://www.coingecko.com/en/coins/serumToday it’s up to $1.79, or 38%. That’s not the only token that’s popping. The tendies token is up more than 400% since being listed July 30th. https://www.coingecko.com/en/coins/tendiesBut you can’t buy these magical tokens at your friendly neighbourhood discount brokerage. Behold the new favourite… Read More »
Grayscale Trust has been on a tear this quarter buying up more bitcoin than any other financial institution in the world. Currently they hold about 365,000 Bitcoin on behalf of US accredited investors, That is just a little less than 2% (1.97%) of all bitcoin currently in circulation. Last July, when I first reported on Grayscale, they only held 1.2% of the world’s… 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 »
I bought some Hut 8 Mining Corp. (HUT-TSXV) earlier this week at $1.11. It’s a bitcoin mining operation with facilities based in Alberta, Canada. There are two reasons why I bought the stock. But before I get into that, let’s go over the negatives (and there are a lot of them). First, the balance sheets of any bitcoin mining operation at… Read More »
