To The Moon

🌟🌟🌟Bitcoin soars past USD 100,000 on Friday as a Bullish crypto industry expects early action by Donald Trump when he is sworn in as the US President on January 20.

Bitcoin has surged in price since Donald Trump's victory in November reaching over USD 100,000 in December before sliding down below USD 90,000 earlier this week.  In contrast 2 years ago Bitcoin was trading at about USD 20,000.

Donald Trump had once said a few years ago that Bitcoin seems like a scam.  But since then he has embraced crypto currencies with a zeal unmatched by any US President in modern day history. 

Donald Trump has promised that he would create a special advisory council tasked with providing guidance on creating clear and straightforward regulations surrounding cryptocurrencies within the first 100 days of his Presidency. 

So far Donald Trump has picked Paul Atkins, a strong advocate for cryptocurrencies to lead the SEC.  He has also named Tech Executive and Venture Capitalist David Sacks to be his administration's Crypto Czar.  Bo Hines will be the Executive Director of the Presidential Council of Advisers for Digital Assets.

In addition to that Donald Trump has promised that he will make sure that the US Government stockpiles Bitcoin, much like it already does with Gold.  Creating such a stockpile of Bitcoin would be a big step forward to Bitcoin becoming more normalised and accepted by the public. 

A great way to tap into the growing importance of Bitcoin and Cryptocurrencies is to invest in BITQ $Bitwise Crypto Industry Innovators ETF(BITQ)$ BITQ invests in companies leading the new crypto economy. BITQ tracks an index designed by Bitwise's industry expertise to identify pioneering companies that generate the majority of their revenue from their crypto business activities.  The Fund Manager Bitwise Asset Management is the largest crypto index fund manager in the US. 

BITQ does not hold cryptocurrencies per se.  However BITQ offers a picks and shovel type approach to crypto investing by tracking an index of 30 crypto companies globally which includes emerging markets. 

The Top 10 holdings include $MicroStrategy(MSTR)$  Coinbase, MARA Holdings, Northern Data AG, Riot Platforms, Galaxy Digital Holdings, Core Scientific, Applied Digital Corp and Terawulf. 

The Top 10 weightage is 61%.  Total number of holdings is 31.  The expense ratio is 0.85%.  Dividends are paid once a year.  The current dividend yield is 0.85%.

MicroStrategy$MicroStrategy(MSTR)$   is the world's largest corporate holder of Bitcoin, owning about USD 40 billion worth of Bitcoin.    MicroStrategy's share price has jumped 27% in the past 5 days and in 2024 it has skyrocketed a whopping 724%!  MicroStrategy's success can be attributed to the fast rise of Bitcoin value.  It is the Top holding in BITQ, with a 10.7% weightage. 

$Coinbase Global, Inc.(COIN)$  is the largest Cryptocurrency Exchange in the US in terms of trading volume.  Coinbase is also key custodian for 9 of the 12 Bitcoin ETFs.  Coinbase is known for its safety and security for investors as well as its low transaction fees. 

Coinbase's share price is up 19% in the past 5 days and in 2024, it has skyrocketed 136%.  Coinbase is the 2nd highest holding in BITQ with a weightage of 9.3%.

$MARA Holdings(MARA)$  is the largest publicly listed Bitcoin Mining company and is also the 2nd largest Bitcoin Holding company.    MARA mirrors MicroStrategy's model  by issuing convertible bonds to raise capital for Bitcoin accumulation. 

MARA's share price is up 17% in the past 5 days and has risen 23% in 2024.  Compared to MicroStrategy, MARA has not enjoyed the same parabolic move that characterised MicroStrategy run, suggesting that there maybe considerable upside if the current  Bitcoin bull market accelerates. 

MARA is the 3rd highest holding of BITQ, with 8% weightage. 

Apart from the Top 3 holdings, Northern Data AG is a German technology company that builds high performance computing (HPC) infrastructure.  Riot Platforms, Core Scientific, Terawulf and IREN are Bitcoin mining companies. 

With the excellent performance of its holdings, it is not surprising that BITQ has been on an upward trajectory.  BITQ's share price is up 14% in the past 5 days and in 2024 it has skyrocketed 131%.

Wall Street Analysts are bullish on BITQ, with an average Target price of USD 34.29, an upside potential of 74% according to Tipranks. 

I like BITQ as it offers me great value for money to tap into the fast growing Bitcoin industry.  At the last closing price of just USD 19.64, it is a lot easier on the pockets compared to investing in say MicroStrategy which closed at USD 396.50 last Friday. 

Bitcoin is currently on a hot streak with Donald Trump in power from January 20.  BITQ is a great tactical play to ride this phenomenal Crypto Wave. 

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