Grayscale Bitcoin Trust (GBTC*) $14.22.
Galaxy Digital (BRPHF*) $4.08
MicroStrategy (MSTR) $299.88
Bitcoin vs. Gold: Which is Best? The Ultimate Showdown!! (linked here) May 30, 2023 – Presented by Guy at Coin Bureau. An excellent assessment, presented in a short video (19 minutes) concerning Gold Vs Bitcoin (BTC). LOTM likes both. Each has benefits and risks. I will not summarize the video as it is short and covers a broad swath of information and in detail. The one comment we will contribute as to our opinion, is that gold is more stable, recognized as a store of value for 5,000 years, recognized as the same as cash by the global banking systems, and is less trackable than bitcoin by governments. This makes Gold the better store of value to preserve wealth.
The big positive on Bitcoin is the limited supply of bitcoin combined with a constantly increasing use demand for bitcoin. The demand use of bitcoin is in its very early stage. As supply of Bitcoin is limited to only 21 million BTC, and its use factors are endless, This makes Bitcoin the better potential appreciation asset when comped to Gold – by far. Therefore, we recommend one have exposure to precious metals (Gold) and Crypto (Bitcoin) long-term. Gold is attractive as a store of Value and Bitcoin as a fast growing new technology with high volatility but also high appreciation potential.
- Bitcoin is a commodity as defined by the Securities Exchange Commission (SEC) and regulated as such.
- CRYPTO & BLOCKCHAIN is the fastest growing technology ever.
- Prices for Grayscale Bitcoin Trust, MicroStrategy and Galaxy Digital have become attractive based on both value and technical stage analysis of chart patterns. The price patterns suggest the beginning of a rally stage.
LOTM feels most longer-term investors will want to participate in this technology in some way. Grayscale Bitcoin Trust (GBTC*) $13.87, Galaxy Digital (BRPHF*) $3.87 and MicroStrategy (MSTR) $285.10 are ways to passively be involved with some of the smartest people in the field of Blockchain and Crypto.
Galaxy Digital, in our view, is the #1 global Institutional Investment Banker involved in trading of crypto. It covers the mining of crypto, portfolio management of crypto assets, Prop trading and representative for more than 650 institutional clients in crypto and is a venture capital investor of more than 200 blockchain and crypto non-public companies. Galaxy will move most of its 2023 and 2024 growth initiatives outside the USA due to regulatory constraints in the USA. This is not a negative as other jurisdictions are more favorably in regulatory approval status. A very significant exclusive European partnership with DWS, a one trillion dollar asset management firm to develop crypto assets for retail and public is an example of the focus outside the USA.
Galaxy Digital will move more of its operations offshore because of a ‘regulatory headache’ in the US, billionaire crypto bull Mike Novogratz says May 10, 2023 Galaxy Digital will move more of its operations offshore, Mike Novogratz says. High-profile collapses have created a “regulatory headache” for the crypto firm in the US, he told analysts. “We still have a hangover … from the denting of trust that FTX and other bad actors in the space created,” Novogratz added.
Galaxy and DWS Enter Strategic Alliance to Develop Digital Asset Management Solutions in Europe
04/26/2023 NEW YORK and FRANKFURT, Germany, April 26, 2023 /CNW/ – Galaxy Digital Holdings Ltd. a financial services and investment management innovator in the digital asset and blockchain technology sector, and DWS, one of the world’s leading asset managers, have entered into a strategic alliance with the aim of initially developing a comprehensive suite exchange-traded products (ETPs) on certain digital assets in Europe. The strategic allies plan to also subsequently explore other digital asset solutions.
Galaxy Digital Announces TSX Approval of Share Repurchase Program Renewal days ago Galaxy Digital Holdings Ltd. (Galaxy), a financial services and investment management innovator in the digital asset and blockchain technology sectors, today announced that the Toronto Stock Exchange (“TSX” or the “Exchange”) has approved the Company’s plan to renew its normal course issuer bid (a “Bid”) to purchase up to 10, 056,193 ordinary shares (10% of the Company’s public float as of May 19, 2023).
Galaxy Digital Posts $134M First-Quarter Profit on Strong Showing for Crypto Market May 9, 2023.
MSTR -World largest public holder of bitcoin in a public company – MicroStrategy owns 130,000 BTC
GBTC is the cheapest way to own Bitcoin. The trust – GBTC, which only owns Bitcoin, trades at a 42% discount to bitcoin’s spot price. Link to GBTC at Y-chart discount- premium to direct ownership of Bitcoin.
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Tom
Written May 30, 2023, by Tom Linzmeier, for Tom’s LOTM Blog
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