Bitcoin is coming back strong.
After pulling back to less than $55,000 in early August, the digital currency is back to $61,583 and could push even higher near term.
Helping, the Federal Reserve is getting set to cut interest rates at its September meeting.
Plus, as noted by Forbes.com:
“Institutional investors have ‘bought the dip’ over the second quarter of the year, despite a decline in the bitcoin price of 12%, according to a report from asset manager Bitwise, with the company’s chief investment officer, Matt Hougan, calling it a ‘great sign.’”
Going along for the ride have been mining stocks and a software stock that now owns 226,500 Bitcoin as of the end of June 2024.
|
Company: MicroStrategy (SYM: MSTR) That software firm with 226,500 BTC is MicroStrategy (SYM: MSTR), which just exploded from a low of about $102.40 to $140.60. From here, it could run back to $170 near-term, especially if Bitcoin price push aggressively higher. Helping, Cantor Fitzgerald just initiated an overweight rating on the stock, noting that “demand for Bitcoin will meaningfully accelerate from here.” |
Investors Alley
Act by Sept. 16th, to collect this 22% dividend
Tim Plaehn here. This is my #1 Energy ETF for Monthly Payouts. For every $100 invested, you could collect up to $22 in dividends in the next 12 months. But you must act by Sept. 16th, to secure your first payment.
Go here to get my full briefing about this ETF.
|
Company: Marathon Digital (SYM: MARA) Since bottoming out at around $15, MARA is now back up to $17.74. From here, we’d like to see it rally back to $22 near term. Helping, the company just said its July BTC production jumped 17% month over month to 692. MARA also just bought $100 million of BTC and how holds over 20,000 BTC on its balance sheet. |
Crypto 101
How to Retire Comfortably with Crypto in 2024
The key to retiring faster with crypto? The 4-year Bitcoin halving cycle.
Right now, we’re at the perfect moment to position for the next bull run. And a new blueprint reveals how to spot the altcoins set to soar, how to sell for maximum gains, and how to turn those gains into a comfortable retirement.
Discover the Crypto Retirement Blueprint
|
Company: Riot Platforms (SYM: RIOT) Riot is also slowly pivoting from support at $7.50. Now up to $8.16, we’d like to see it retest $10.50 near term. At this price, RIOT has become far too cheap to ignore. |
InvestorPlace
Jeff Bezos Next Trillion Dollar Bet
While the world has been obsessed with AI and ChatGPT… Jeff Bezos has quietly gone all in on a technology that’s going to prove to be FAR bigger. If you’ve never heard of “QaaS” technology you need to.
Click here now.
