At LOTM, we believe Bitcoin and Crypto Currencies are real. It took us until this last summer to become full believers, but we are on board now.
We have shared a MarketWatch article written Nov 18, 2020 (Linked below) as a very good generalist article. There is not a lot new in the article, however if you are just starting an interest in Crypto currency and Bitcoin specifically, it is well written and informative.
The biggest risk in bitcoin in our opinion, is in US government, outlawing US ownership in Bitcoin. We believe the odds of that are low because with a limit of 21 million bitcoins allowed, embedded in the code, the critical mass of bitcoin does not pose a threat to the US Government. Bitcoin is also global, so ownership is not concentrated in the USA (threatening the US$ or US$ based cryptocurrency which is coming). Therefore, we embrace bitcoin and additional crypto currency ownership as a new asset class.
We have begun accumulating bitcoin through the Grayscale Trust (GBTC). Grayscale Bitcoin trust is a USA traded trust dedicated to owning only bitcoin. We would like to see a correction in the price below $18 and lower ($15.50) to buy – let’s see what the market gives us. We intend to be long-term (minimum two years) buyers on a “scale in basis,” especially on weakness. At the end we have also linked three very good Videos on Bitcoin specifically but also gold, silver, and comments on monetary policy. Think of it as a resource for you to watch over time. Enjoy! I found it timely and informative. Tom
Market Extra – MarketWatch
Bitcoin is baaack!
6 reasons bitcoin is trading at its highest level since 2017 — and 1 warning
By Mark DeCambre Last Updated: Nov. 18, 2020
The popular digital currency, which is arguably one of the most polarizing in financial markets, is approaching heights not seen since the frenzied rush into cryptocurrencies three years ago. But now bitcoin is drawing eyeballs and wallets again, outshining gold prices, GOLD, -3.58%, and the stock market, with a year-to-date advance that has exceeded 150% so far in 2020. So why does the asset, based on the distributed-ledger technology, suddenly appear ready to surpass its 2017 peak at $19,783? There are a few key reasons: (Follow the Link in the title)
Additional comments on Bitcoin and pending Market Conditions with three of the best thinkers in global finance:
I: Raoul Pal: Bitcoin To 1 Million | Global Markets Insolvent Video 40 minutes Taped Jun 2, 2020
II: Bitcoin’s Revolution Is Now: The Bretton Woods Reset Video 22:07 minutes, Interview of Simon Dixon taped Nov 9, 2020
III: The Rise of Bitcoin and Why the Elite Have the Most to Lose | Stacy Herbert
November 16, 2020 interview by Daniela Cambone Video 12 minutes
We highly recommend these interviews as a head start on conclusions other investors well come to in six months or more.
Where Value meets Buy Signals!
Feel free to forward or recommend to others.
* An account related to LOTM holds a position in this security.
Neither LOTM nor Tom Linzmeier is a Registered Investment Advisor.
Please refer to our web site for full disclosure at www.LivingOffTheMarket.com ZTA Capital Group, Inc.
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