I bought way too many Bitcoin miner stocks at the peak, then didn’t set a stop loss as they cratered. If Bitcoin continues its climb, will the miners also benefit? Or will their stock prices languish like gold miners do?
Hey Ed, I'm not familiar with mining stock. Seems like a slightly more speculative play when you have other options, Bitcoin, ETF or even a Strategy stock. What was your thinking when you bought it?
Allocation compared to btc. they mever performed, except forsome moments. On the long term it s a business with no great revenues. They meed to improve hardware continuously and search for cheap energy. They will mine less and less btc over time (still 1,5 more or less in the next 130 years or so) and they continuously need to sell them to cover expenses. When i realized they were a bad idea, i sold everything (with some losses , mitigated by small sizing) and bought btc, spot, and moved them in my h/w wallets. Hope i replied to your question.
His name even sounds wealthy. Would you move some SUI into BTC if it goes?
Good question. Probably not just because of the tax event on the swap. I’ll do the multi cycle play on SUI.
Great article. Most people don’t understand the debt problem we have. I need to buy some more bitcoin.
Thank you, Rob! Exactly.
P.S. Make sure you check the Founding members WhatsApp chat, you'll be pleasantly surprised.
I bought way too many Bitcoin miner stocks at the peak, then didn’t set a stop loss as they cratered. If Bitcoin continues its climb, will the miners also benefit? Or will their stock prices languish like gold miners do?
Hey Ed, I'm not familiar with mining stock. Seems like a slightly more speculative play when you have other options, Bitcoin, ETF or even a Strategy stock. What was your thinking when you bought it?
At the time I thought it was good exposure to “picks and shovels” long term for the sector. Lesson learned lol.
Absolutely. I bought miners years ago, with small
Allocation compared to btc. they mever performed, except forsome moments. On the long term it s a business with no great revenues. They meed to improve hardware continuously and search for cheap energy. They will mine less and less btc over time (still 1,5 more or less in the next 130 years or so) and they continuously need to sell them to cover expenses. When i realized they were a bad idea, i sold everything (with some losses , mitigated by small sizing) and bought btc, spot, and moved them in my h/w wallets. Hope i replied to your question.
It does thanks!
Bitcoin miners will
Always lose.
Would you mind sharing why? Should I liquidate them and just put the proceeds into a BTC or ETH ETF? These are in my 401k account.
I am europe based, I don’t know what kind of advantage you may have with etf in 401k, don’t know your tax rules and so on.