For the past decade, the FAANG stocks have been unstoppable. By FAANG, I'm referring to: Facebook Amazon Apple Netflix Google, which is a subsidiary of Alphabet Over the trailing 10-year period, the benchmark S&P 500 is up 200%, while the FAANG stocks have delivered an average return of 1,263%. Note that this includes Facebook's 591% return since its initial public offering in 2012. FAANGs have been so popular because of their industry-specific domination and exceptional growth rates. But after more than a decade, even the FAANGs are maturing. As the U.S. and global economy transform in the wake of the coronavirus disease 2019 (COVID-19) pandemic, a new set of superstar stocks appears ready to step into the spotlight. Investors, say goodbye to the FAANG stocks and hello to TIPS. The T stands for Teladoc Health Over the next decade, we're going to witness an incredible push toward precision medicine. Rather than leaning on one-size-fits-all treatments, we'll see individual treatment plans take over. Lower costs and patient/physician convenience will dominate the conversation. These trends suggest that telemedicine giant Teladoc Health (NYSE:TDOC) has truly unlimited upside. Many folks will point out that COVID-19 has been a big catalyst -- and that's 100% true. Total virtual visits more than tripled during the second quarter, with physicians and hospitals wanting to keep at-risk patients out of their offices as much as possible. But this growth story has been evolving for years. With Teladoc on track for $1 billion in sales in 2020 (a 75% compound annual growth rate since 2013), and insurers enjoying the lower cost burden associated with virtual visits, Teladoc's game is still in the very early innings. Its growth story is about to get even more exciting. Teladoc is in the process of acquiring applied health signals company Livongo Health (NASDAQ:LVGO) for $18.5 billion in a cash-and-stock deal. Livongo's solutions rely on artificial intelligence and send its members tips and nudges that lead to lasting behavioral changes. Livongo has doubled or nearly doubled its diabetes member count in each of the past three years. When Teladoc and Livongo become a single company, it could well have tenfold upside over the next decade. The I stands for Intuitive Surgical To really drive home the importance of precision medicine, I'm doubling down on exposure to medical-device innovation with Intuitive Surgical (NASDAQ:ISRG), the developer of the da Vinci surgical system that aids a variety of soft tissue surgeries. Why Intuitive Surgical? To begin with, it has what looks to be an insurmountable market share advantage in surgical-assisted systems. As of the end of June, Intuitive Surgical had installed 5,764 of its da Vinci systems worldwide -- far more than all of its competitors combined. This has allowed the company to build rapport with hospitals and surgical centers. It also doesn't hurt that these machines cost anywhere from $0.5 million to $2.5 million, making it unlikely that its clients will ever switch to a competitor. This is also a company built to generate juicier operating margins over time. During the 2000s, the da Vinci system made up the lion's share of Intuitive Surgical's sales. Unfortunately, the margins on these highly intricate machines aren't that great, but as the installed base of da Vinci systems has grown, so has the percentage of sales tied to servicing and procedure-specific instruments. These are much higher-margin sales segments poised to grow throughout the 2020s. There's plenty of opportunity for Intuitive Surgical to grow its share in various soft tissue surgical indications. The company offers double-digit growth potential for a long time to come. The P stands for Pinterest In the years to come, popular social media and e-commerce sites are going to have a field day. That's why it's smart for investors to buy into Pinterest (NYSE:PINS), which offers exceptional growth potential on both fronts. Though it's difficult to maintain user growth over a long period of time in the social media space, this hasn't phased Pinterest. In the June-ended quarter, it tallied 416 million monthly active users (MAU), which is up a cool 116 million MAU from the year-ago period. While COVID-19 keeping people in their homes has certainly encouraged increased screen time, the really noteworthy statistic is that Pinterest has seen more than 90% of its MAU growth come from international markets. On the downside, international users offer much lower revenue per user than MAUs in the United States. However, Pinterest more than doubled its average revenue per international user in 2019. It's these overseas users that offer Pinterest sustainable double-digit growth potential. There's also the company's push into e-commerce. Since Pinterest provides a platform for its users to share what products and interests matter to them, it makes sense to connect small businesses to these presumably motivated shoppers. The company is focused on user convenience and maintaining engagement. It could well become a popular e-commerce destination in the years to come. The S stands for Square Finally, investors will want to own preeminent fintech stock Square (NYSE:SQ) to take advantage of ongoing innovation in the payment space. You're probably familiar with or have used one of Square's point-of-sale devices at some point. Between 2012 and 2019, the gross payment volume on Square's seller ecosystem surged from $6.5 billion to $106.2 billion. That's a compound annual growth rate of 49%. Traditionally, Square's point-of-sale devices, loans, and analytic tools have been targeted at small businesses. But what's interesting is just how many medium-sized and large businesses have been using its seller ecosystem of late. Through the first two quarters of 2020, 52% of the GPV came from businesses with an annualized GPV of at least $125,000. Since the company's seller ecosystem is based on merchant fees, attracting bigger businesses can lead to significant sales revenue. Yet what's really exciting Wall Street and investors about Square is the company's peer-to-peer payment platform Cash App. User growth has been phenomenal, with MAUs increasing from 7 million at the end of 2017 to 30 million by June 2020. Approximately 7 million of these MAUs are also using Cash Card, a traditional debit card that links to a users' Cash App balance. Cash App represents the evolution of financial payments, and it gives Square so many ways to make money. Cash App generates merchant fees, transfers fees, and even revenue from investments and bitcoin exchange. Cash App gives Square genuine 10-bagger potential. Forget FAANG, folks, and say hello to TIPS.
Wall Street Breakfast: Volatile Week Ends In Quad Witching Session
U.S. equity futures held up overnight following another selloff on Wall Street that was led by major tech names. Contracts tied to the Dow and S&P 500 are hugging the flatline, while Nasdaq futures pared recent losses by climbing 0.6%. Mixed messaging around a potential coronavirus vaccine, as well as the passage of further fiscal stimulus, weighed on the market, while investors are gearing up for consumer sentiment data set for release at 10 a.m. ET. Don't forget that it's also quad witching day, which refers to the simultaneous expiration of market index futures, stock futures, market index options and stock options. "These days tend to get a lot of press for all of the volume they create, but historically they are nearly always a non-event," said Ryan Detrick, senior market strategist at LPL Financial. Spending deal to avoid government shutdown While there may be disagreement over another round of coronavirus relief, lawmakers are aiming to unveil a bipartisan spending bill today to avert a government shutdown on Oct. 1. The "clean" legislation, largely devoid of any controversial measures, should keep the government funded into mid-December. "I don't think anybody wants to be responsible for shutting down the government on the eve of an election in the middle of a pandemic, so it's a rare outbreak of common sense on both sides," said Rep. Tom Cole (R., Okla.), a senior member of the House Appropriations Committee. New round of farm aid "Starting next week my administration is committing an additional $13B in relief to help farmers recover from the China virus," President Trump announced a campaign rally in Mosinee, Wisconsin. The new aid is the second tranche of money issued as part of the Trump administration's Coronavirus Food Assistance Program. In April, the administration unveiled $19B in relief for the agriculture sector under the CARES Act, including $16B in direct payments to farmers and ranchers and $3B in mass purchases of dairy, meat and produce. Fed mulls extension of bank dividend curbs Due to heightened economic uncertainty, the Federal Reserve is considering extending its caps on banks' dividends and stock repurchases for the rest of the year. The U.S. central bank made the announcement along with its release of hypothetical scenarios for the second round of stress tests that it's requiring due to the COVID-19 pandemic. Unlike an earlier round of stress tests this year, the Fed will release the results of the tests for each of the 33 lenders, rather than providing aggregate results for the group. Sub-zero rates The Bank of England held its benchmark policy rate at 0.1% on Thursday, but indicated it could cut interest rates below zero for the first time in its 326-year history. While recent domestic economic data has been a bit stronger than expected, it's "unclear how the economy will perform further out," according to the Monetary Policy Committee. Another major risk facing the U.K. economy relates to the post-Brexit trade discussions between the U.K. and the EU, which have recently soured. Terms of a TikTok deal The Trump administration spent Thursday reviewing proposals on the TikTok-Oracle (NYSE:ORCL) partnership, which currently has many moving parts. TikTok owner ByteDance (BDNCE) agreed to list the video-sharing app on a U.S. stock exchange, which could happen within a year, though there are still concerns over whether the Chinese parent would be allowed to retain a majority stake in the new company. Meanwhile, shares in China's Tencent (OTCPK:TCEHY) tumbled into the U.S. closing bell following reports that its investments are drawing new national security attention. Exchange dealmaking Seeing off competing bids from Deutsche Borse (OTCPK:DBORY) and Switzerland's SIX, the London Stock Exchange (OTCPK:LNSTY) is in exclusive talks to sell Borsa Italiana to France's Euronext (OTCPK:EUXTF). Offloading the Milan stock exchange would help LSE achieve regulatory remedies for its $27B purchase of data provider Refinitiv, which is owned by Blackstone (NYSE:BX) and Thomson Reuters (NYSE:TRI). The deal is politically sensitive in Rome because of concerns about who could take control of Borsa Italiana's bond platform, which handles trading of Italy's government debt. New COVID-19 restrictions across Europe Targeted lockdowns and local restrictions are returning to Europe as the region tries to avoid broad economic damage amid a surge in coronavirus cases. "Weekly cases have now exceeded those reported when the pandemic first peaked in Europe in March," the WHO's regional director for Europe Hans Kluge told an online news conference. "Although these numbers reflect more comprehensive testing, it also shows alarming rates of transmission across the region." Pubs and restaurants must shut early and household mixing has been limited in northeast England, while social gatherings of more than six people have been banned across the country. French authorities are meanwhile preparing tighter restrictions in several cities, while Spain's Madrid has moved to "reduce mobility and contacts" in areas with high infection rates. Go Deeper: Israel becomes first developed country to enforce a second nationwide shutdown. Pandemic closures see restaurants hit the hardest About 60% of businesses that have closed their doors during the coronavirus pandemic will never reopen, and restaurants have suffered the most, according to new data from Yelp. The National Restaurant Association also said this week that 100,000 restaurants have closed either permanently or long term, adding that the sector is on track to lose $240B in sales this year. A number of factors have made it especially difficult for eateries, which tend to operate on thin margins even in the best of times. What else is happening... Unity (NYSE:U) to raise $1.3B in IPO, prices 25M shares above range. New York files civil charges against J&J (NYSE:JNJ) over opioids. Walmart (NYSE:WMT) hikes pay for about 165,000 hourly employees. Dave & Buster's (NASDAQ:PLAY) stumbles on bankruptcy speculation. Proposed Boeing (NYSE:BA) 737 MAX safety upgrades endorsed by NTSB. Nat gas tumbles by most in two years after stockpile gain. Today's Markets In Asia, Japan +0.2%. Hong Kong +0.5%. China +2.1%. India -0.3%. In Europe, at midday, London -0.2%. Paris -0.3%. Frankfurt +0.1%. Futures at 6:20, Dow flat. S&P flat. Nasdaq +0.6%. Crude +0.9% to $41.34. Gold +0.6% to $1961.40. Bitcoin +1.6% to $11005. Ten-year Treasury Yield flat at 0.68%
The Next Crypto Wave: The Rise of Stablecoins and its Entry to the U.S. Dollar Market
Author: Christian Hsieh, CEO of Tokenomy This paper examines some explanations for the continual global market demand for the U.S. dollar, the rise of stablecoins, and the utility and opportunities that crypto dollars can offer to both the cryptocurrency and traditional markets. The U.S. dollar, dominant in world trade since the establishment of the 1944 Bretton Woods System, is unequivocally the world’s most demanded reserve currency. Today, more than 61% of foreign bank reserves and nearly 40% of the entire world’s debt is denominated in U.S. dollars1. However, there is a massive supply and demand imbalance in the U.S. dollar market. On the supply side, central banks throughout the world have implemented more than a decade-long accommodative monetary policy since the 2008 global financial crisis. The COVID-19 pandemic further exacerbated the need for central banks to provide necessary liquidity and keep staggering economies moving. While the Federal Reserve leads the effort of “money printing” and stimulus programs, the current money supply still cannot meet the constant high demand for the U.S. dollar2. Let us review some of the reasons for this constant dollar demand from a few economic fundamentals.
Demand for U.S. Dollars
Firstly, most of the world’s trade is denominated in U.S. dollars. Chief Economist of the IMF, Gita Gopinath, has compiled data reflecting that the U.S. dollar’s share of invoicing was 4.7 times larger than America’s share of the value of imports, and 3.1 times its share of world exports3. The U.S. dollar is the dominant “invoicing currency” in most developing countries4. https://preview.redd.it/d4xalwdyz8p51.png?width=535&format=png&auto=webp&s=9f0556c6aa6b29016c9b135f3279e8337dfee2a6 https://preview.redd.it/wucg40kzz8p51.png?width=653&format=png&auto=webp&s=71257fec29b43e0fc0df1bf04363717e3b52478f This U.S. dollar preference also directly impacts the world’s debt. According to the Bank of International Settlements, there is over $67 trillion in U.S. dollar denominated debt globally, and borrowing outside of the U.S. accounted for $12.5 trillion in Q1 20205. There is an immense demand for U.S. dollars every year just to service these dollar debts. The annual U.S. dollar buying demand is easily over $1 trillion assuming the borrowing cost is at 1.5% (1 year LIBOR + 1%) per year, a conservative estimate. https://preview.redd.it/6956j6f109p51.png?width=487&format=png&auto=webp&s=ccea257a4e9524c11df25737cac961308b542b69 Secondly, since the U.S. has a much stronger economy compared to its global peers, a higher return on investments draws U.S. dollar demand from everywhere in the world, to invest in companies both in the public and private markets. The U.S. hosts the largest stock markets in the world with more than $33 trillion in public market capitalization (combined both NYSE and NASDAQ)6. For the private market, North America’s total share is well over 60% of the $6.5 trillion global assets under management across private equity, real assets, and private debt investments7. The demand for higher quality investments extends to the fixed income market as well. As countries like Japan and Switzerland currently have negative-yielding interest rates8, fixed income investors’ quest for yield in the developed economies leads them back to the U.S. debt market. As of July 2020, there are $15 trillion worth of negative-yielding debt securities globally (see chart). In comparison, the positive, low-yielding U.S. debt remains a sound fixed income strategy for conservative investors in uncertain market conditions. Source: Bloomberg Last, but not least, there are many developing economies experiencing failing monetary policies, where hyperinflation has become a real national disaster. A classic example is Venezuela, where the currency Bolivar became practically worthless as the inflation rate skyrocketed to 10,000,000% in 20199. The recent Beirut port explosion in Lebanon caused a sudden economic meltdown and compounded its already troubled financial market, where inflation has soared to over 112% year on year10. For citizens living in unstable regions such as these, the only reliable store of value is the U.S. dollar. According to the Chainalysis 2020 Geography of Cryptocurrency Report, Venezuela has become one of the most active cryptocurrency trading countries11. The demand for cryptocurrency surges as a flight to safety mentality drives Venezuelans to acquire U.S. dollars to preserve savings that they might otherwise lose. The growth for cryptocurrency activities in those regions is fueled by these desperate citizens using cryptocurrencies as rails to access the U.S. dollar, on top of acquiring actual Bitcoin or other underlying crypto assets.
The Rise of Crypto Dollars
Due to the highly volatile nature of cryptocurrencies, USD stablecoin, a crypto-powered blockchain token that pegs its value to the U.S. dollar, was introduced to provide stable dollar exposure in the crypto trading sphere. Tether is the first of its kind. Issued in 2014 on the bitcoin blockchain (Omni layer protocol), under the token symbol USDT, it attempts to provide crypto traders with a stable settlement currency while they trade in and out of various crypto assets. The reason behind the stablecoin creation was to address the inefficient and burdensome aspects of having to move fiat U.S. dollars between the legacy banking system and crypto exchanges. Because one USDT is theoretically backed by one U.S. dollar, traders can use USDT to trade and settle to fiat dollars. It was not until 2017 that the majority of traders seemed to realize Tether’s intended utility and started using it widely. As of April 2019, USDT trading volume started exceeding the trading volume of bitcoina12, and it now dominates the crypto trading sphere with over $50 billion average daily trading volume13. https://preview.redd.it/3vq7v1jg09p51.png?width=700&format=png&auto=webp&s=46f11b5f5245a8c335ccc60432873e9bad2eb1e1 An interesting aspect of USDT is that although the claimed 1:1 backing with U.S. dollar collateral is in question, and the Tether company is in reality running fractional reserves through a loose offshore corporate structure, Tether’s trading volume and adoption continues to grow rapidly14. Perhaps in comparison to fiat U.S. dollars, which is not really backed by anything, Tether still has cash equivalents in reserves and crypto traders favor its liquidity and convenience over its lack of legitimacy. For those who are concerned about Tether’s solvency, they can now purchase credit default swaps for downside protection15. On the other hand, USDC, the more compliant contender, takes a distant second spot with total coin circulation of $1.8 billion, versus USDT at $14.5 billion (at the time of publication). It is still too early to tell who is the ultimate leader in the stablecoin arena, as more and more stablecoins are launching to offer various functions and supporting mechanisms. There are three main categories of stablecoin: fiat-backed, crypto-collateralized, and non-collateralized algorithm based stablecoins. Most of these are still at an experimental phase, and readers can learn more about them here. With the continuous innovation of stablecoin development, the utility stablecoins provide in the overall crypto market will become more apparent.
In addition to trade settlement, stablecoins can be applied in many other areas. Cross-border payments and remittances is an inefficient market that desperately needs innovation. In 2020, the average cost of sending money across the world is around 7%16, and it takes days to settle. The World Bank aims to reduce remittance fees to 3% by 2030. With the implementation of blockchain technology, this cost could be further reduced close to zero. J.P. Morgan, the largest bank in the U.S., has created an Interbank Information Network (IIN) with 416 global Institutions to transform the speed of payment flows through its own JPM Coin, another type of crypto dollar17. Although people argue that JPM Coin is not considered a cryptocurrency as it cannot trade openly on a public blockchain, it is by far the largest scale experiment with all the institutional participants trading within the “permissioned” blockchain. It might be more accurate to refer to it as the use of distributed ledger technology (DLT) instead of “blockchain” in this context. Nevertheless, we should keep in mind that as J.P. Morgan currently moves $6 trillion U.S. dollars per day18, the scale of this experiment would create a considerable impact in the international payment and remittance market if it were successful. Potentially the day will come when regulated crypto exchanges become participants of IIN, and the link between public and private crypto assets can be instantly connected, unlocking greater possibilities in blockchain applications. Many central banks are also in talks about developing their own central bank digital currency (CBDC). Although this idea was not new, the discussion was brought to the forefront due to Facebook’s aggressive Libra project announcement in June 2019 and the public attention that followed. As of July 2020, at least 36 central banks have published some sort of CBDC framework. While each nation has a slightly different motivation behind its currency digitization initiative, ranging from payment safety, transaction efficiency, easy monetary implementation, or financial inclusion, these central banks are committed to deploying a new digital payment infrastructure. When it comes to the technical architectures, research from BIS indicates that most of the current proofs-of-concept tend to be based upon distributed ledger technology (permissioned blockchain)19. https://preview.redd.it/lgb1f2rw19p51.png?width=700&format=png&auto=webp&s=040bb0deed0499df6bf08a072fd7c4a442a826a0 These institutional experiments are laying an essential foundation for an improved global payment infrastructure, where instant and frictionless cross-border settlements can take place with minimal costs. Of course, the interoperability of private DLT tokens and public blockchain stablecoins has yet to be explored, but the innovation with both public and private blockchain efforts could eventually merge. This was highlighted recently by the Governor of the Bank of England who stated that “stablecoins and CBDC could sit alongside each other20”. One thing for certain is that crypto dollars (or other fiat-linked digital currencies) are going to play a significant role in our future economy.
There is never a dull moment in the crypto sector. The industry narratives constantly shift as innovation continues to evolve. Twelve years since its inception, Bitcoin has evolved from an abstract subject to a familiar concept. Its role as a secured, scarce, decentralized digital store of value has continued to gain acceptance, and it is well on its way to becoming an investable asset class as a portfolio hedge against asset price inflation and fiat currency depreciation.Stablecoins have proven to be useful as proxy dollars in the crypto world, similar to how dollars are essential in the traditional world. It is only a matter of time before stablecoins or private digital tokens dominate the cross-border payments and global remittances industry. There are no shortages of hypes and experiments that draw new participants into the crypto space, such as smart contracts, new blockchains, ICOs, tokenization of things, or the most recent trends on DeFi tokens. These projects highlight the possibilities for a much more robust digital future, but the market also needs time to test and adopt. A reliable digital payment infrastructure must be built first in order to allow these experiments to flourish. In this paper we examined the historical background and economic reasons for the U.S. dollar’s dominance in the world, and the probable conclusion is that the demand for U.S. dollars will likely continue, especially in the middle of a global pandemic, accompanied by a worldwide economic slowdown. The current monetary system is far from perfect, but there are no better alternatives for replacement at least in the near term. Incremental improvements are being made in both the public and private sectors, and stablecoins have a definite role to play in both the traditional and the new crypto world. Thank you. Reference:  How the US dollar became the world’s reserve currency, Investopedia  The dollar is in high demand, prone to dangerous appreciation, The Economist  Dollar dominance in trade and finance, Gita Gopinath  Global trades dependence on dollars, The Economist & IMF working papers  Total credit to non-bank borrowers by currency of denomination, BIS  Biggest stock exchanges in the world, Business Insider  McKinsey Global Private Market Review 2020, McKinsey & Company  Central banks current interest rates, Global Rates  Venezuela hyperinflation hits 10 million percent, CNBC  Lebanon inflation crisis, Reuters  Venezuela cryptocurrency market, Chainalysis  The most used cryptocurrency isn’t Bitcoin, Bloomberg  Trading volume of all crypto assets, coinmarketcap.com  Tether US dollar peg is no longer credible, Forbes  New crypto derivatives let you bet on (or against) Tether’s solvency, Coindesk  Remittance Price Worldwide, The World Bank  Interbank Information Network, J.P. Morgan  Jamie Dimon interview, CBS News  Rise of the central bank digital currency, BIS  Speech by Andrew Bailey, 3 September 2020, Bank of England
Alright guys, Ive been working on this for a while and a post on here by a guy describing his portfolio here was the final kick in the ass for me to put this together. I started writing this to summarize what Im doing for my friends who are beginners, and also for me to make some sense of it for myself Hopefully parts of it are useful to you, and also ideally you guys can point out errors or have a suggestion or two. I'm posting this here as opposed to investing or canadianinvestor (blech) because they're just gonna tell me to buy an index fund. This first section is a preamble describing the Canadian tax situation and why Im doing things the way that I am. Feel free to skip it if you dont care about that. Also, there might be mistake regarding what the laws are here so dont take my word for it and verify it for yourself please. So here in Canada we have two types of registered accounts (theres actually more but whatver). There is the TFSA "Tax Free Savings Account", and RRSP "Registered Retirement Savings Account" For the sake of simplicity, from the time you turn 18 you are allowed to deposit 5k (it changes year to year based on inflation etc)in each of them. That "room" accumulates retroactively, so if you haventdone anything and are starting today and you are 30 you have around 60k you can put in each of them. The prevailing wisdom is that you should max out the TFSA first and you'll see why in a minute. TFSA is post tax deposits, with no capital gains or other taxes applied to selling your securities, dividends or anything else. You can withdraw your gains at any time, and the amount that you withdraw is added to the "room" you have for the next year. So lets say I maxed out my TFSA contributions and I take out 20k today, on January of next year I can put back in 20k plus the 5 or whatever they allow for that year. You can see how powerful this is. Theres a few limitations on what is eligable to be held in the TFSA such as bitcoin/bitcoin ETFs, overseas stocks that arent listed on NYSE, TSX, london and a few others. You can Buy to Open and Sell to Close call and put options as well as write Covered Calls. The RRSP is pre-tax deposits and is a tax deferred scheme. You deposit to lower your income tax burden (and hopefully drop below a bracket) but once you retire you will be taxed on anything you pull out. Withdrawing early has huge penalties and isnt recommended. You are however allowed to borrow against it for a down payment as a first time home buyer. The strategy with these is that a youngperson entering the workforce is likely to be in a fairly low tax bracket and (hopefully) earns more money as they get older and more skilled so the RRSP has more value the greater your pre-taxincome is. You can also do this Self Directed. Its not relevant to this strategy but I included it for the sake of context. Non registered accounts ( or any other situation, such as selling commercial real estate etc) is subject to a capital gains tax. In so far as I understand it, you add all your gains and losses up at the end of the year. If its a positive number, you cut that number IN HALF and add it to your regular pre-tax income. So if I made 60k from the dayjob and 20k on my margin account that adds up to 70k that I get taxed on. if its a loss, you carry that forward into the next year. Theres no distinction between long term and short term. Also physical PMs are treated differently and I'll fill that part in later once I have the details down. The reason why all that babble is important is that my broker Questrade, which isnt as good as IB (the only real other option up here as far as Im aware) has one amazing feature that no other broker has: "Margin Power" If you have a TFSA and a Margin account with them, you can link them together and have your securities in the TFSA collateralise your Margin account. Essentially, when it comes to the Maintenance Excess of the Margin Account QT doesnt care if its in the TFSA *or* the Margin! You can see how powerful this is. ------------------------------------------------------------------------------------------------------------------------------------------------ So as you can tell by the title, a lot of this is heavily inspired by Chris Cole's paper "The Allegory of the Hawk and the Serpent". You can read it here: https://www.artemiscm.com/welcome#research Between it, his interviews and my mediocre options skills at the time my mind was blown. Unfortunately I didnt know how to do the Long Volatility part until after the crash in March but I've since then had nothing but time to scour the internet and learn as much as I could. The way I interpret this isnt necessarily "what you should have right now", but what abstracted model they were able to backtest that gave them the best performance over the 90 years. Also, a lot of my portfolio I already had before I started trying to build this. As such my allocations dont match the proportions he gave. Not saying my allocations are better, just showing where they are at this time. I'm going to describe how I do Long Volatility at the end rather than the beginning since the way *I* do it wont make sense until you see the rest of the portflio. Physical PMs 22% I'm not sure wether he intended this to be straight up physical gold or include miners and royalty streaming companies so I will just keep this as physical. I consider Silver to be a non-expiring call option on gold, so that can live here too. I am actually *very* overweight silver and my strategy is to convert a large portion of it to gold (mostly my bars) to gold as the ratio tightens up. If youre into crypto, you can arguably say that has a place in this section. If an ETF makes sense for part of your portfolio, I suggest the Sprott ones such as PHYS. Sprott is an honest business and they actually have the metal they say they have. If you have enough, you can redeem your shares from the Royal Canadian Mint. The only downside is that they dont have an options chain, so you cant sell covered calls etc. Simple enough I suppose. One thing to bear in mind, there is a double edged sword with this class of assets. They're out of the system, theyre nobody's business but your own and theres no counter party. That unfortunately means that you cant lever against it for margin or sell covered calls etc. You can still buy puts though (more on that later) Commodity Trend (CTA) 10% https://youtu.be/tac8sWPZW0w Patrick Ceresna gave a good presentation on what this strategy is. Until I watched this video I just thought it meant "buy commodities". A real CTA does this with futures also so aside from the way he showed, there are two other ETFs that are worth looking at. COM - This is an explicit trend following ETF that follows a LONG/FLAT strategy instead of LONG/SHORT on a pile of commodity futures. So if they get a "sell" signal for oil or soybeans they sell what they have and go to cash. COMT- Holds an assortment of different month futures in different commodities, as well as a *lot* of various related shares in producers. Its almost a one stop shop commodities portfolio. Pays a respectable dividend in December If you want to break the "rules" of CTA, and include equities theres a few others that are also worth looking at KOL- This is a coal ETF. The problems with it are that a lot of the holdings dont have much to do with coal. One of them is a tractor company. A lot of the companies are Chinese so theres a bit of a red flag. Obviously Thermal Coal, the kind used for heating and powerplants isnt in vogue and wont be moving forward...but coking coal is used for steel manufacturing and that ain't going anywhere. The dividend is huge, pays out in December. A very very small position might be worth the risk. Uranium- I'm in URA because thats the only way for me to get exposure to Kazatoprom (#1 producer), which is 20% of the holdings. The other 20% is Cameco (#2 producer)and then its random stuff. Other than that I have shares in Denison which seems like its a good business with some interesting projects underway. I'm still studying the uranium space so I dont really have much to say about it of any value. RSX- Russia large caps. If you dont want to pick between the myriad of undervalued, high dividend paying commodity companies that Russia has then just grab this. It only pays in December but it has a liquid options chain so you can do Covered Calls in the meantime if you want. NTR- Nutrien, canadian company that was formed when two others merged. They are now the worlds largest potash producer. Pretty good dividend. They have some financial difficulties and the stocks been in a downtrend forever. I feel its a good candidate to watch or sell some puts on. I'm trying to come up with a way to play agriculture since this new phase we're going to be entering is likely to cause huge food shortages. EURN and NAT- I got in fairly early on the Tanker hype before it was even hype as a way to short oil but I got greedy and lost a lot of my gains. I pared down my position and I'm staying for the dividend. If you get an oil sell signal, this might be a way to play that still. Fixed Income/Bonds 10% Now, I am not a bond expert but unless youre doing some wacky spreads with futures or whatever... I dont see much reason to buy government debt any more. If you are, youre basically betting that they take rates negative. Raoul Pal of Real Vision is pretty firm in his conviction that this will happen. I know better than to argue with him but I dont see risk/reward as being of much value. HOWEVER, I found two interesting ETFs that seem to bring something to this portfolio IVOL- This is run by Nancy Davis, and is comprised of TIPS bonds which are nominally inflation protected (doubt its real inflation but whatever) overlayed with some OTC options that are designed to pay off big if the Fed loses control of the long end of the yield curve, which is what might happen during a real inflation situation. Pays out a decent yield monthly TAIL- This is a simpler portfolio of 10yr treasuries with ladder of puts on the SPX. Pays quarterly. Equities 58% (shared with options/volatility below) This is where it gets interesting, obviously most of this is in mining shares but before I get to those I found some interesting stuff that I'm intending to build up as I pare down my miners when the time comes to start doing that. VIRT- I cant remember where I saw this, but people were talking about this as a volatility play. Its not perfect, but look at the chart compared to SPY. Its a HFT/market making operation, the wackier things get the more pennies they can scalp. A 4% dividend isnt shabby either. FUND- This is an interesting closed end fund run by Whitney George, one of the principals at Sprott. He took it with him when he joined the company. Ive read his reports and interviews and I really like his approach to value and investing. He's kind of like if Warren Buffett was a gold bug. Theres 120 holdings in there, mostly small caps and very diverse...chicken factories, ball bearings all kinds of boring ass shit that nobody knows exists. Whats crucial is that most of it "needs to exist". Between him, his family and other people at Sprott they control 40% or so of the shares, so they definitely have skin in the game. Generous dividend. ZIG- This is a "deep value" strategy fund, run by Tobias Carlisle. He has a fairly simple valuation formula called the Acquirer's Multiple that when he backtested it, is supposed to perform very well. He did an interview with Chris Cole on real Vision where he discusses how Value and Deep Value havent done well recently, but over the last 100 years have proven to be very viable strategies. If we feel that theres a new cycle brewing, then this strategy may work again moving forward. I want to pause and point out something here, Chris Cole, Nassim Taleb and the guys at Mutiny Fund spend a lot of effort explaining that building a portfolio is a lot like putting together a good basketall team. They need to work together, and pick up each others slack A lot of the ETFs I'm listing here are in many ways portfolios in and of themselves and are *actively managed*. I specifically chose them because they follow a methodology that I respect but I can't do myself because I dont have the skill, temperament or access to. The next one is a hidden gem and ties into this. I'm not sure how much more upside there is in this one but man was I surprised. SII- Sprott Inc. I *never* see people listing this stock in their PMs portfolios. A newsletter I'm subscribed to described this stock as the safest way to play junior miners. Their industry presence, intellectual capital and connections means that they get *the best* private placement deals in the best opportunities. I cant compete with a staff like theirs and I'm not going to try. I bought this at 2.50, and I liked the dividend. Since then they did a reverse split to get on the NYSE and like the day after the stock soared. When it comes to mining ETFS I like GOAU and SILJ the best. None of their major holdings are dead weight companies that are only there because of market cap. I dont want Barrick in my portfolio etc. SGDJ is a neat version of GDXJ. Aside from that my individual miners/royalty companies are (no particular order) MMX SAND PAAS PGM AUM AG MUX RIO- Rio2 on the tsx, not rio tinto KTN KL Options/Volatility: varies So this is where we get to the part about options, Volatility and how I do it. I started out in the options space with The Wheel strategy and the Tastytrade approach of selling premium. The spreads and puts I sell, are on shares listed above, in fact some of those I dont hold anymore. Theres tons of stuff on this in thetagang and options so I wont go into a whole bunch (and you shouldnt be learning the mechanics from me anyway) but theres one thing I want to go over before it gets wild. If I sell a Cash Secured Put, from a risk management perspective its identical to just buying 100 shares of the underlying security. You are equally "Short Vol" as well, it just that with options its a little more explicit with the Greeks and everything. But if I use my margin that I was talking about earlier, then I can still collect the premium and the interest doesnt kick in unless Im actually assigned the shares. But if I sell too many puts on KL or AG, and something happens where the miners get cut down (and lets be real, they all move together) my margin goes down and then I get assigned and kaboom...my account gets blown up So what I need to do, is balance out the huge Short Vol situation in my portfolio, be net Long Vol and directly hedge my positions. Since the overwhelming majority of my equities are all tied to bullion this is actually a very easy thing to do. Backspreads https://youtu.be/pvX5_rkm5x0 https://youtu.be/-jTvWOGVsK8 https://youtu.be/muYjjm934iY So I set this up so the vast majority of my margin is tied up in these 1-2 or even 1-3 ratio put spreads that *I actually put on for a small credit*, and roll them every once in a while. I run them on SLV, and GDX. I keep enough room on my margin so I can withstand a 10% drawdown before it sets off the long end of the spreads and then I can ride it out until it turns around and we keep the PM bull market going. Theres another cool spread I've been using, which is a modified Jade Lizard; if already hold shares, I'll sell a put, sell a covered call, and use some of the premium to buy a longer dated call. Ive been running this on AG mostly. I have a few more spreads I can show you but Im tired now so it'll have to wait for later. As I said multiple times, I do intend to trim these miners later but now isnt the time for that IMO. I'm also monitoring this almost full time since I have an injury and have nothing better to do until I heal :p
For Trading JULY 1st Consumer Confidence Jumps BA Losing Orders FEDEX Loss Sends the Stock Up Best Quarter for DJIA Since Q1 1987 Today’s market got off to a soft start in the DJIA on the loss of several more orders for BA but it didn’t take long to stabilize and work back to unchanged while the NASDAQ & S&P 500 shot to the upside right out of the gate. At the close we were +217.08 (.86%), NASDAQ +184.61 (1.87%), S&P-500 +47.05 (1.54%), the Russell +20.16 (1.42%) and the Transports +120.08 (1.33%). Market internals were 9:5 on the NYSE and 2:1 on the NASDAQ. Volume was a little higher (window dressing) for the close of the quarter and the half. The DJIA was 27:3 with BA the biggest loser -11.19 or 76 DP’s and the gainers were MSFT & UNH +35, HD +30, GS +28 and AAPL +20 DPs. The Powell / Mnuchin visit to the Financial Services committee was a real snore. The statements were released yesterday and there were no surprises. All the Congressmen and women made their little speeches without actually asking any serious questions…so a typical day on the Hill. The consumer confidence # was 98.1 up from 85.9 and well above the 92 expected. Not so the Chicago PMI which went the other way at 36.6, up from 32.3, but well below the 45 estimates. We added some CVS 7/67.50 calls on the decline with an average price of $1.16 and they finished $ .78, and the NEM 7/17 $60’s @ 1.55 and added to last Friday @ $1.30 for an average of $1.47 triggered a 100% Up Rule sale at $2.94 this morning. They closed today $3.30. We also added a position in SLV 8/21 17 calls @ $ .74, and they closed $ .83. Our “open forum” on Discord, which allows me to interact with subscribers and others to allow direct questions and chart opinions on just about any stock, continues to grow with more participants every day. It is informative and allows me to share insights as the market is open and moving. The link is: https://discord.gg/ATvC7YZ and I will be there and active from before the open and all day. It’s a great place to share ideas and gain some insights, and we’ve grown to almost 1900 members. I also did this video titled “How to survive being an options trader and not blow up your account,” over the long weekend. I think it’s highly informative as a guide to stock selection and option choices. The link is https://youtu.be/Y7H9RpWfLlo Enjoy!! Tonight’s closing comment video https://youtu.be/nCJrwS4bFWE SECTORS: The news of cancellations by Norwegian Air of 92 737 MAX and 5 787 was followed by another cancellation by BOAC. The stock was +14% yesterday but gave back almost half today. NVDA ran up with the rest of the chip names on the back of last night’s earnings from MU +4.8% and XLNX +7% with a close of $379.91 +11.91 (3.2%) and LCRX $323.46 +15.00 (4.87%). But the start today was TSLA. I will be doing a report over this week-end but the story is from Ark Invests Cathie Wood and she tells a GREAT story for Tesla. The stock finished the day $1079.81 +70.46 (3.2%). From a low of $350 in March, the gain is just under 210%, and the market value of the company has grown to $200 Billion. FEDEX reported after the close and had a loss of $1.28 vs $7.56 year ago and a slight miss on revenues. After missing 3 of the last 3 quarters numbers, expectations were low and after closing $140.22 +5.67, it ran to $153.01 +12.89 for a total gain for the day of almost $20.00 or 15%. Even though UPS has been able to raise prices and pick up some of the AMZN business that FDX dropped last year, FDX seems to be doing okay in e-commerce. FOOD SUPPLY CHAIN was HIGHER with TSN +..34, BGS +.04, FLO +.15, CPB +.40, CAG +1.57, MDLZ +.42, KHC +.24, CALM +.50, JJSF +2.56, HRL -.07, SJM +.73, PPC +.83, KR -.27, and PBJ $31.23 +.36 (1.17%). BIOPHARMA was HIGHER with BIIB +7.20, ABBV +1.51, REGN +12.78, ISRG +16.06, GILD +2.07, MYL +.09, TEVA +.16, VRTX +5.13, BHC +.06, INCY +1.49, ICPT +.70, LABU +2.75 and IBB $137.00 +2.32 (1.72%). CANNABIS: was LOWER with TLRY -.60, CGC -.19, CRON -.08, GWPH +.80, ACB -.09, CURLF +.11, KERN -.12 and MJ $12.87 -.14 (1.08%). DEFENSE: was LOWER with LMT -.57, GD +.39, TXT -.67, NOC -2.52, BWXT +.53, TDY +6.17, RTX -.52, and ITA $164.72 -2.52 (1.51%). RETAIL: was LOWER with M +.30, JWN -.27, KSS -.09, DDS -.36, WMT +.64, TGT +1.43, TJX -.26, RL -.25, UAA -.09, LULU +17.15 (SEE ABOVE), TPR -.15, CPRI -.02, and XRT $42.88 +.17 (.40%). FAANG and Big Cap: were HIGHER with GOOGL +17.83, AMZN +75.12, AAPL +2.23, FB +5.06, NFLX +6.97, NVDA +10.43, TSLA +65.95 (6.53%), BABA +.09, BIDU -1.41, CMG +3.05, CAT +1.84, BA -13.74, DIS -.13, and XLK $104.49 +1.84 (1.47%). FINANCIALS were HIGHER with GS +3.78, JPM +.93, BAC +.31, MS +.80, C +.78, PNC +2.17, AIG +.41, TRV +2.10, AXP +.40, V +1.63, and XLF $23.14 +.31 (1.36%). OIL, $39.81 -43. Oil was lower in last night’s trading before we rallied midday. I mentioned in last night’s charts with comments section in the Weekly Strategies letter, prices are trying to work higher towards $45.00. The stocks were higher with XLE $37.58 +.58 (1.57%). GOLD $1800.50 +19.3. It was a continuation rally and a new recovery high and the highest close since $1931.70 in August 2011. We’ve moved $50 since the low on Friday and while the trend and momentum are positive, we may have to test 1790 to consolidate our gains. We bought back the 3rd and final lot of NEM @ $58.86. And, we also added a half position in NEM 7/17 60 calls @ $1.55, and additional 50% @ $1.30 on Friday. We sold half on the 100% Up Rule @ $2.94 yesterday and we closed $3.30 +1.18 today. BITCOIN: closed $9,185 - 15. After trading back to 8985 we rallied back to close – only $5. Since last week we have closed between 9200 – 92.85 every day with narrow ranges. A break over 10,000 still sends us higher. We added 350 shares of GBTC last Wednesday @ $10.02 to our position of 400 @ $8.06, bringing our average price to $8.97. GBTC closed $9.60 +.12 today. Tomorrow is another day. CAM
The recent announcement from Moderna, a US pharmaceutical company, changed the mood in the stock market. The announcement was about the result of the early trial of its COVID-19 vaccine stating that all 45 patients produced antibodies that could help to fight the pandemic. Obviously, the stock market soared and began its week with great figures. As of 9:46 am on May 18th (EST) at NYSE, DOW30 went up by 3.15%, S&P 500 by 2.7%, and Nasdaq by 2.1% compared to the market on the last Friday.
NOW, HOW WILL THIS WONDERFUL NEWS AFFECT THE PRICE OF BITCOIN?
Since everything in the world now is centered around the COVID-19, we can assume this news will influence the price of Bitcoin. Let us look at the graph below that shows the trend in COVID-19 cases around the world and the price of Bitcoin from January 22nd to May 16th, and figure out what may happen in the upcoming days and what we should do in preparation. [Source: Worldometers, TradingView] In the beginning, the cases of COVID-19 infection went up slowly. (p.s. Not many countries were actively testing their people back then). At the same time, the price of Bitcoin showed an interesting upward trend and even breached the $10,000 level. According to Edward Moya, a senior market analyst at OANDA, one of the reasons behind the price soar was because of people’s ‘belief’ that the spread was something that will end in the first quarter. Also, Michael Sonnenshein, a managing director at Grayscale Investments, saw Bitcoin as a store of value. However, everything changed on March 12th. The Bitcoin price plunged by almost $4,000 in one day and the COVID-19 cases began to rise more rapidly. Why March 12th? What caused this to happen? One day earlier, on March 11th, the World Health Organization declared the COVID-19 a “pandemic”. The world realized that the virus will be a threat for a long time. Many people began to liquidate Bitcoins they owned into tangible assets like gold. Moreover, traders went for short selling in various cryptocurrency derivatives exchanges causing the price to plummet. The world and the Bitcoin market were both in fear. Nevertheless, some traders saw this as an opportunity to get more Bitcoin in their wallets. On the very same day when the Bitcoin price dropped, $1.3 billion in fiat and cryptocurrency were deposited onto Coinbase which was five times the typical average. The new signups were doubled, the active users were tripled, and the trade volume was sextupled. It is time to get back to the story of Moderna. Like the event on March 12th, the news from Moderna will definitely have an impact on the Bitcoin price. There is a perspective that the price will go down as the stock market becomes more active and the trust in the country and the system goes up. Concurrently, another perspective believes that since the vaccine is still in an early stage, it will not be enough to offset the upward trending force of Bitcoin.
https://preview.redd.it/gl5x4j3hg1351.jpg?width=2400&format=pjpg&auto=webp&s=9eca4a55c76edf1e394b6fe1270daa1032417221 Will blockchain technology be the most significant disruption of the last three centuries in the stock market industry? Well, Norbert Biedrzycki -Head of Services CEE at Microsoft says so, and so does blockchain council. Blockchain technology has been able to significantly change the dynamics of money, supply chain management, finance, record keeping, and more. Along with supporting crypto-currencies such as bitcoin and ethereum, it can revolutionize both the storage and transmission of financial data around the globe and stock trading marketplaces. While Tokyo Stock Exchange and Nasdaq have unveiled the use of blockchain in its core trading infrastructure, India's Securities Exchange Board, among others, is researching its feasibility in fundraising, post-trade settlement, and asset management. Learning of the blog
What is blockchain technology?
How is it useful to the stock market?
Advantages that it brings
What Is Blockchain Technology? Blockchain is a database innovation that provides a shared public register where all parties can track and encrypt transactions. This register consists of nodes, and each node is a computer that follows the protocol. Blocks are public, but its contents can be protected by cryptography. A new block is added every time a token transaction is confirmed. There are private blockchains in which access is by permission only, and in-house nodes verify the transactions. On the other hand, public blockchains, as you must have guessed, are open access. Another type is permissioned public blockchains that retain the volunteer verification but has restricted access. If you want to know more about blockchain, you can check out this blockchain course! How Is It Useful To The Stock Market? The stock market is a mammoth creature with very high inertia. Blockchain technology can prove fruitful in clearing and settlement alongside securing automation of the post-trade process. It can speed by the settlement of trades and subtly go about stock exchanges with the help of automation and decentralization. According to a Blockchain in Capital market's report, "IT and operations expenditure in capital markets is currently close to $100-150 billion per year among banks". Blockchain can reduce extra commission costs by eliminating the third party regulator as the blockchain network does the needful. Thus, it can answer trust, interoperability, and transparency issues. Advantages that it brings The advantages that blockchain technology brings along are:
Decentralization: As the system is distributive, money is not present at one node.
Transparency: As technology is in public eyes, it brings in trust.
Cost Reduction: Since there are no intermediaries, the cost gets reduced.
Security: Blockchain can act as an automatic surveillance system, and the valuation of securities deposited can be done daily.
Less time: The transactions are quick, as there is no duplication of the process.
High Liquidity: Blockchain reduces ineffectiveness with the help of automation, ultimately bringing in more investment.
Early accessors The New- York-based firm Nasdaq which operates at the junction of finance and technology, was one of the first to adopt bitcoin technology, thus advocating the demand of blockchain professionals. It now enables investors to harness blockchain's power by securely navigating financial markets at an international level. To register all transactions in real-time, Nasdaq Stockholm and the Swedish bank SEB started testing blockchain. The London Stock Exchange Group, in collaboration with IBM, is testing a blockchain platform to fully digitize trades in the shares of medium and small-sized enterprises. Apart from this, the NYSE and Deutsche Borse would be evaluating the feasibility and advantages of the technology soon. Future Scope Due to less testing, there are some scalability issues with blockchain, so to disrupt the operations of the stock market, it can take up to ten years, but it does have the potential to transform companies and the society. It is a great investment opportunity because of its ability to tackle data fragmentation, insider trading, data loss, reconciliation, and ticket matching problems. Thus. Blockchain technology can bring about the widespread upset in automated market surveillance and post-trade event processing.
CryptoNick is deleting all of his BitConnect videos, and so are his buddies. Please never forget what he and his cohorts did to so many people, and how much money those people lost in the process thanks to CryptoNick, Trevon James, and Craig Grant! (26497 points, 3056 comments)
Listen up folks, if you "did", or still do promote cryptocurrency related scams, you will be called out on it via this sub-Reddit. We don't care about you, or your ill-gotten gains, we care about the general well-being of our community first and foremost. (17888 points, 1277 comments)
So no one else finds it a bit odd that Verge is actually going up in price in a bear market, after a hack attack, after being outed for paying McAfee to promote it, and after the 1 developer begged for money from his own community to allegedly help pay his taxes? (2548 points, 867 comments)
I will tell you exactly what is going on here, this is critical information to understand if you are going to make money in this space. How prices work, and what moves them - and it's not money invested/withdrawn. (20147 points, 1442 comments)
CryptoNick is deleting all of his BitConnect videos, and so are his buddies. Please never forget what he and his cohorts did to so many people, and how much money those people lost in the process thanks to CryptoNick, Trevon James, and Craig Grant! by DestroyerOfShitcoins (26497 points, 3056 comments)
I will tell you exactly what is going on here, this is critical information to understand if you are going to make money in this space. How prices work, and what moves them - and it's not money invested/withdrawn. by Suuperdad (20147 points, 1442 comments)
Listen up folks, if you "did", or still do promote cryptocurrency related scams, you will be called out on it via this sub-Reddit. We don't care about you, or your ill-gotten gains, we care about the general well-being of our community first and foremost. by DestroyerOfShitcoins (17888 points, 1277 comments)
4792 points: hanzyfranzy's comment in Bitcoin breaches $4000 in 15 minutes. What is happening 😳
3630 points: eNte19's comment in Enjoy the massacre. It could be a once in life opportunity.
3533 points: sakata_gintoki113's comment in Russian nuclear scientists arrested for trying to use one of Russia's most powerful supercomputers to mine Bitcoins
3462 points: JohnDalysJohn's comment in CryptoNick is deleting all of his BitConnect videos, and so are his buddies. Please never forget what he and his cohorts did to so many people, and how much money those people lost in the process thanks to CryptoNick, Trevon James, and Craig Grant!
2988 points: Xgatt's comment in CryptoNick is deleting all of his BitConnect videos, and so are his buddies. Please never forget what he and his cohorts did to so many people, and how much money those people lost in the process thanks to CryptoNick, Trevon James, and Craig Grant!
2909 points: dankmeter's comment in Coinbase/GDAX Warning - $50,000 Wire DEPOSIT Missing Since December 12th
2884 points: regecide2025's comment in No one was complaining about "manipulation" when it was going up from 2500 to 20,000 in less than 6 months.
Bitcoin Investment Trust is an open-ended grantor trust company. It is invested entirely and only in bitcoin and has a value that is based only on the price of bitcoin. What this company does is it provides investors with a means to gain exposure to the price movement of bitcoin without having to buy, store or keep bitcoins safe. The value of Bitcoin is heavily dependent on the faith of investors, its integration into financial markets, public interest in using it, and its performance compared to other cryptocurrencies. If you are looking for an alternative to investing directly in Bitcoin, you can also make money on the rising price of Bitcoin by investing in companies that are working to utilise Bitcoin and the technologies that underpin it, such as Blockchain. Many millionaires have been made in recent months thanks to Bitcoin’s unprecedented profitability, expanding at rates that most traditional ... The value of Bitcoin Investment Trust is nearly double the value of the bitcoin it holds, allowing users to buy GBTC in a tax-advantaged account. The coins associated with the trust are held ... Note: Bitcoin with a capital “B” references Bitcoin the network or Bitcoin the payment system; bitcoin with a lowercase “b” references bitcoin as a currency or bitcoin the currency unit. Why Invest in Bitcoin? It seems silly to some people that one bitcoin can be worth thousands of dollars. What makes bitcoins valuable? Bitcoins Are Scarce
NYSE & NASDAQ companies investing in BITCOINS Will other ...
Investing in the blockchain technology is different than investing in cryptocurrencies. The technology will probably be an important part of our future and t... #BITCOIN #BTC #Cryptocurrency The above video is for information purposes only. It is not intended to be an investment advice. Do understand that cryptocurre... How to raise money with Bitcoin or invest in Bitcoin start-up companies! ... But instead of needing to have a billion dollar company that can be traded on the stock exchange, with Bitcoin ... HOW TO BUY BITCOIN 2020 - BEST Ways to Invest In Cryptocurrency For Beginners! (UPDATE) Get $10 of free Bitcoin when you buy or sell at least $100 of cryptoc... Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube.