Stockchase Opinions

Terry Shaunessy The Bitcoin Fund QBTC.U-T DON'T BUY Dec 09, 2020

Bitcoin in general He doesn't think this will ever be a transaction currency. For a portfolio, Bitcoin is an alternative investment. He's wary of Bitcoin, so less clear in pricing and origination. It's too much in crime, money laundering and tax evasion. He'd much rather own gold bullion--it's tangible, has a history and he know what it operates.
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DON'T BUY
Bitcoin is a tradable asset class that has a real value of zero for him. For those who don't mind volatility, it could be good for those investors. However, he does not understand how to value it. The central banks of the world will probably not allow independent currencies. However, smart people and big money are putting significant amounts into bitcoin. It will remain volatile.
COMMENT
He is not sure about the mechanics of the ETF. However, speaking on bitcoins there is only going to be a finite number of bitcoins being mined. There is scarcity. Currency needs to be believed in. If people believe it is real, it will become real. Established managers are buying it now.
PAST TOP PICK
(A Top Pick Jun 01/20, Up 413%) This is a closed end fund. It was a leader in its field. Now you have a challenge of a tax problem. They are now buying back shares. He would not see any reason to change this fund. See his Top Picks today.
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TOP PICK
Bitcoin is the most famous cryptocurrency (there are many) and is highly volatile. Bitcoin's plunges and leaps are legendary. For instance, in 2010, one Bitcoin traded at 8 cents. Last week, it topped $58,000. First off, Bitcoin is a digital currency, meaning that it's not a physical coin, but a currency that exists in a public ledger nestled in a network of computers and accessed through through a series of passwords, like keys that open a bank vault. (Don't lose your keys or you're screwed.)
PAST TOP PICK
(A Top Pick Sep 17/20, Up 205%) The fruition is coming through that digital assets are real. It has reached $2T in market cap. It is stored off line and is a closed end fund. A frontier asset. Would continue to add to it.
PARTIAL BUY
It is one of the first funds in the Bitcoin space. You don't need to buy much, just keep re-balancing to have the right amount in your portfolio. It is volatile but he likes the diversity it offers.
TRADE
It is composed of frontier asset classes with huge volatility so keep your exposure minimal. It is in a period of doldrums so you could accumulate with an eye to risk. No rush to buy - buy a bit when it's down, sell a bit when it's up.
HOLD

It's been a winner, so keep holding, but have some risk management in place. There will be volatility. Significant amount of capital can hit the bitcoin market with approval of a BlackRock ETF in the US. Frontier asset class, highly volatile, reflect that in your position size. High risk, substantial reward over the very long term. Trim, if position is outsized.

See his Top Picks for a slightly better opportunity.

DON'T BUY

Already several bankruptcies, fraud, and disasters with bitcoin. Allegations of criminal organizations using bitcoin for money laundering. He's in the investment business, not the gambling business. Highly risky, not for his clients.