The price of Bitcoin in Asian markets briefly spiked up to $7800 USD before settling down to $6750 Monday morning. That is still $350 higher than Bitcoin prices in North America. The markets have not seen such price disparity since the fourth quarter of 2017. Such disparity is either very good news or very bad news. First, let’s… Read More »
During the summer, I noted that the most efficient bitcoin miners were profitable with bitcoin below $7000 and that nobody would care. I was right. Cryptostar (CSTR-TSXv) commenced trading early this week on the TSX Venture Exchange. It closed at today at six cents. With 208 million shares out, that gives the company a market cap of $12.5 million… Read More »
It’s ironic but true that the market accepting Bitfinex as a safe haven for cash (NOT crypto) is driving down the price of bitcoin. Bitfinex, a cryptocurrency exchange based out of Hong Kong is arguably the biggest in the world as ranked by volume (Beware of stats on coinmarketcap.com, all the exchanges ranked above it have been accused… Read More »
If you don’t believe that the market has soured on bitcoin public miners, have a look at FortressBlockchain (FORT-TSXV). Trading close to cash value with revenue and positive cash flow. Any investor has to look at a company trading close to cash, if only to figure out what’s wrong with it.Total revenue for the quarter was $1.35 million CAD. EBITA… Read More »
I first wrote about MOGO last May 29th when the stock was trading at $3.40, and was the first stock I have ever written about where I bought it as a table-pounding buy. It has a nice tight share structure (i.e. few shares outstanding) and a business model that touched crypto but was not entirely dependent on it. It closed… Read More »
Bitmain, the dominant supplier of mining rigs in the world, is planning to go public in late 2018 or early 2019 on the Hong Kong stock exchange. At present it is seeking a $1 US billion pre-IPO financing. This is not wishful thinking by Bitmain’s management team. They just completed a Series B funding of US$300-400 million headed… Read More »
