Bitcoin: Outperform (Moderate Buy) @ $6,100
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
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
Bear case: $3,000
Bull case: $10,000
5 year: $50,000
10 year: $500,000
Easy to own
Bitcoin trades 24/7
Alternative to gold
No official US acceptance (filings)
Illegal market use (marketed)
Considered speculative (volatile)
Disclosure: Long GBTC (Grayscale Bitcoin Trust)
Disclaimer: Investments may lose value