Bitcoin: Outperform (Moderate Buy) @ $6,100

Live Blog

August 21, 2020
Current Price: $11,600 

Bitcoin has increased in price lately. I feel more people are moving toward the asset and feel comfortable owning it. Governments feel less threatened by the commodity and should continue to allow full ownership. I think really that is the key point - government doesn't want financial competition...so Bitcoin has a better chance of survival. Gold has come up in price too. The central banks of the world are engaged in massive money printing and stimulus in order to keep things afloat. This only makes the case for Bitcoin stronger. I see both Gold and Bitcoin in a coexisting relationship, with Bitcoin becoming the new Gold. Gold is not going anywhere and the price is not going to zero. Gold will still cary value, but Bitcoin has the advantage. The price of Gold doesn't have to come down in order for the price of Bitcoin to go up. 

My outlook for Bitcoin hasn't changed. There is no reason Bitcoin can't be $100,000 or more in 10 years. Assets are priced on supply and demand. I see demand for Bitcoin increasing over time. Bitcoin is not going to zero. If Bitcoin doesn't go anywhere in five years, then you still have your value at $10K. No gain, no loss.

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March 21, 2020
Bitcoin (BTC-USD) and Grayscale Bitcoin Trust (GBTC)

Bitcoin is an independent cryptocurrency that allows you to transfer value, person-to-person, without the use of any central bank or government. Bitcoin is seen as a digital store-of-value and considered as an alternative to gold. I see wider Bitcoin use and future acceptance as a regulated worldwide digital commodity. The outlook for Bitcoin is positive and the current price of $6,100 reflects a buying opportunity for long-term holders. The price of Bitcoin may drop in the short-term, but will strongly rise in the long-term.

Bitcoin is available via Coinbase.
Grayscale Bitcoin Trust (GBTC) holds Bitcoin and is available via traditional brokerage accounts.

- Roy Philipose, Independent Stock Analyst

Personal Rating
Buy Medium @ $6000s
(Buy Medium: Less risk with more reward)

Bitcoin/GBTC: Outperform (Moderate Buy) 
Current Price: $6,100 / GBTC $7.00
Target Price 12M: $10,000 / GBTC $11.00
Reason: Valuation
Bear case: $3,000
Bull case: $10,000

Bitcoin Outlook
5 year: $50,000
10 year: $500,000

Pros:
Heavy interest
Decentralized
Easy to own
Bitcoin trades 24/7
Global (worldwide)
Alternative to gold

Cons:
No official US acceptance (filings)
Illegal market use (marketed)
Considered speculative (volatile)

Disclosure: Long GBTC (Grayscale Bitcoin Trust)
Disclaimer: Investments may lose value

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