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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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56576995 No.56576995 [Reply] [Original]

Aright fellpw leafs
I went all in Hut8 Bitcoin mining today
Fuck it. Bitcoin will 3X to 100K next year.
I need a 10X.
Sold all my BTCC.TO Bitcoin ETF for HUT.TO today.

>Entry at $3.10.
>Selling at $30
>Stop Loss: right shoulder

>> No.56577017

hmm interastin. I wouldve waiting a month or two though but its a fun play. I'll join in a little while

>> No.56577063
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56577063

>>56577017
The more DD i do on Hut8 the more bullish I get.

The company has a large stack of Bitcoin on their balance sheet

>> No.56577482

>>56576995
Why not MARA?
Most HODL and the biggest hash rate.

>> No.56577538

>>56577482
I'm a leaf. The only Bitcoin miners on TSX iare HUT and BITF

RIOT and MARA will do well also in the bull market.

Technically Hut8 is the best with the Inverse H&S I have drawn

>> No.56577654
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56577654

>>56577538
>I'm a leaf. The only Bitcoin miners on TSX iare HUT and BITF

So am I...
There's nothing stopping you from owning NASDAQ listed companies like MARA. There's no withholding tax because there are no dividends.

In fact, I hold MARA in both my TFSA and RSP accounts as a proxy for Bitcoin.

HUT is no doubt the best of the breed in Canadian miners, but a pretty lousy company compared to the US miners.

>> No.56577858

>>56577654
>as a proxy for Bitcoin

You know you can just buy a BTC ETF, right?

>> No.56577906

>>56577858
BTCC a shit. Don't trust it.

>> No.56577923

>>56577858
Not only that, but because MARA holds and produces Bitcoin, they generally have 2-3x the leverage over the underlying asset. So it's even better.

>> No.56577982
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56577982

>>56577654
Buyign and holding USD stocks is not efficient. I'm using my TFSA and RRSP CAD accounts.


Also MARA might have a bigger HODL stack the the Bitcoin Stack / MarketCap is smaller than Hut8.

Almost 40% of Hut8 marketcap is in BItcoin which is comfy.

>> No.56578024

>>56577982
Also want to buy with my TFSA. If I sold all my current Vanguard Growth for Hut would the CRA come after me?

>> No.56578067

>>56578024
Don't cash out all at once? Just pull out enough cash you need monthly.

I know guys cashing 200K from their TFSA without much problems.

>> No.56578070

>>56577982
HUT8 has almost no production, an aging fleet of miners that is not efficient, and no cash to actually buy new miners unless they massively dilute the stock or sell BTC etc. They will struggle to survive after the halving.

>Buyign and holding USD stocks is not efficient.
Because you said so?
It's definitely a lot more efficient for me since the Canadian dollar is circling the toilet and every time my MARA grows in value I enjoy the USD multiplier on my account.