All of my investments are tied up in my IRA. Looking to invest in Bitcoin without withdrawing from my IRA and creating a taxable event.
Friday, December 6, 2024
Day 106 Friday December 6th 2024
Hello everyone interested in The Ghost Disruptive Innovation Fund and welcome back to day 106!
Today's post is going to address the elephant in the room, $100,000 Bitcoin. What this means for the fund and a minor look at all 3 of the funds holdings that have doubled so far, Bitdeer Technologies (BTDR), Sofi Technologies (SOFI), and MicroStrategy (MSTR). Please stay connected for future trades, updates on holdings, and more holding reports! As always thank you for the continued interest in The Ghost Disruptive Innovation Fund!
$100,000 Bitcoin
On the night of December 4th 2024, all Bitcoin enthusiasts were greeted with Bitcoin finally crossing over $100,000 and a market cap of over $2 Trillion. Bitcoin has been on a hot streak since the US Election ended and with more and more continuously positive news for Bitcoin being released. The Fund has been absolutely elated since this event as should all Bitcoin and crypto enthusiasts! For all of those that did there due diligence and held there assets during rough periods, this is your reward. The Ghost Disruptive Innovation Fund is in that category. When Bitcoin was barely $55,000 the fund was worth roughly $180,000 showing losses on Bitdeer Technologies (BTDR), Bitfarms (BITF), CleanSpark Holdings (CLSK), Iris Energy (IREN), and other Bitcoin Proxies. The Fund held its strong beliefs in Bitcoin and we're beginning to get rewarded for the loyalty, yet this is just the start. Bitcoin has a very long road ahead over the next 12 months, where the price could begin pushing closer to $150,000. Funny enough, most Bitcoin Proxies the fund holds aren't even beginning to show there extreme movements, only up a measly 30%-70% with the $100,000 Bitcoin. The Fund is incredibly excited to continue watching Bitcoin over the next few months and anticipates when some of our Bitcoin Proxies like Miners are really going to become active with more Bitcoin price movements. Regardless, congratulations to every Bitcoin and Crypto community member in the world, a much deserved win for a very loyal, outspoken, and intelligent community!
Bitdeer Technologies (BTDR)
The Funds most successful purchase to date has been BTDR up over 170%. Bitdeer really is a special company the consistently remains undervalued and under recognized. If that's because of region of domicile with BTDR being the only Bitcoin Miner based in Singapore, the lack of understanding around the companies future exa-hash plans, or not enough people being knowledgeable about ASICs and Bitcoin mining software. Regardless, many will continue missing out on the long-term potential of BTDR. The company remains incredibly hard to understand, but deservedly so, the most diverse Bitcoin Miner with multiple different revenue segments and the only company in the industry with focus into R&D. Bitdeer Technologies will remain incredibly misunderstood throughout this cycle, but those who push themselves to research the company, its management, and future plans will be pleasantly surprised with the dark horse pick of the Bitcoin Mining industry.
Sofi Technologies (SOFI)
The original investment thesis behind SOFI was tailwinds of rate cuts, and this thesis worked perfectly. SOFI shares are now up over 120% from the funds original purchase and the company is just beginning to stretch its legs out with over 10 million members. SOFI will continue to reap tailwinds from the continued FED interest rate cuts, all while showing a continued expertise in the loan market and more loan originations. SOFI is set to continue having a strong 2025 as more FED interest rate cuts are expected, and the company will continue growing its overall member base.
MicroStrategy (MSTR)
Yesterday on December 5th, 2024, The Fund uploaded it's 7th Holding Report for MicroStrategy in honor of a $100,000 Bitcoin. MSTR has been on a rampage over the past 2 months, with CEO Michael Saylor raising over $10 Billion dollars for more Bitcoin purchases. Michael Saylor has continued to show extreme expertise in raising capital for Bitcoin purchases, currently on pace to complete all of the 2027 capital goals, by the end of 2025. MSTR will continue acquiring as much Bitcoin as possible and grow there war chest as large as possible. Since investing in the company, the funds shares have experienced over 100% gains, yet MSTR has such a long path of growth to continue on. As long as the company continues acquiring Bitcoin and holding onto it over the long-term all MSTR shareholders should be very very happy.
December 6th 2024 Holdings
Today's Top #1: Bitcoin sudden drop to $93K wipes out $303M of longs within minutes
tldr; A sudden drop in Bitcoin's price on December 5 led to the liquidation of $303 million in long positions as the price fell 5.47% within minutes, briefly dipping below $93,000. The price quickly rebounded to $96,410. This sharp decline resulted in total liquidations of $404 million over 24 hours. Analysts suggest this may mark the end of a market 'flush,' with potential for further decline if investors are spooked. The event followed Bitcoin reaching a new all-time high of $104,000, indicating a possible consolidation phase ahead.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
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