Opinions
Jeff Parent B. Eng. FCSI CIM
HIVE Blockchain Technologies
HIVE-X
DON'T BUY
Jul 27, 2018
$0.930
Stock price when the opinion was issued
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BUY
Blockchain ETFs? He loves block chain and has about 7% of his portfolio. He likes HIVE as they are a miner of block chain coins. Global integration is just getting going. The technology will benefit from the way global markets will go forward. Imagine if gold could have a tracking system for physical it would do wonders for the control of its movement. He thinks this will happen with block chain technology.
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RISKY
Higher risk. Recently pulled back, as have all speculative names. If you have a high risk tolerance, make it a core position and trade around that. If you have a long time horizon, you can buy and hold. Longer term, he sees increased adoption and higher bitcoin prices. Short term, share prices will move around a lot.
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TOP PICK
The upshot: BITF, HUT and HIVE all outperform Bitcoin itself, but suffer more volatility than its base currency. The miners' fortunes are intrinsically tied to the fluctuations of Bitcoin. The main costs for these miners start with the capital costs (an army of supercomputers) and the real estate where they operate day and night. An ongoing cost is electricity, since these machines are energy hogs. ESG investors should investigate how much energy is derived from renewables.
As for where Bitcoin is going, that's like asking where gold is heading. Both are “safe haven” investments which rally when investors feel uncertain. Having this correlation seems to be breaking down as vaccinations are pointing to reopenings around the world and will fuel economic recovery. Will Bitcoin plunge again?
Buyer beware.
Clearly has some problems. Slow, steady decline and volume’s dropping. Volatile stock. Be very wary. He’s not a believer of blockchain technology, it’s just a fancy database. Now a penny stock, so will be off the radar of many. If it can break above $1.70, might be more interesting.