WGMI: Managing Long Term Expectations

Mike Fay
5.73K Followers

Summary

  • Bitcoin is back above $60k, with six consecutive monthly gains and a 157% low to high return since September 2023.
  • Miners have been viewed as a way to get exposure to Bitcoin through the public equity markets.
  • The Valkyrie Bitcoin Miners ETF focuses on miners and hardware providers, but the mining business model has long term uncertainty.
  • I like WGMI's top picks and concentration to those picks, but I think investors/traders will ultimately do better longing BTC directly or picking the stocks individually.

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Violka08/iStock via Getty Images

Bitcoin (BTC-USD) is back above $60k. Roughly seven weeks after spot ETF approvals in the United States, the coin has printed six consecutive monthly gains and a whopping 157% low to high return dating back to September 2023. Naturally, when

This article was written by

5.73K Followers
Former media research analyst. Main coverage areas are crypto, BTC miners, metal, and media equities. I'm not an investment advisor. I just share what I do with my own capital and why. Outside of Seeking Alpha, I also write the Heretic Speculator newsletter over at Substack.

Analyst’s Disclosure:I/we have a beneficial long position in the shares of BTC-USD, MARA, CLSK either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

I'm not an investment advisor.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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