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.
Found this helpful? Share it with others.
Written by Dylan Jovine