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Health, Wealth, and Happiness

November 6, 2023

“You make most of your money in a bear market, you just don’t realize it at the time.”

- Shelby Cullom Davis

Howdy investors!

If you want to invest in the potential of crypto without actually buying crypto, we have an exciting piece for you today. In our Top Bitcoin Mining Stocks for 2024, we look at some of the top mining equities that could see an upswing with rising bitcoin prices.

Wanna make a fortune as a crypto day trader? According to former winners in the day trading field, that ship has sailed. With a drop in volatility for crypto day trading, the market has become a far different game compared with the 2016-2017 market.

While U.S. investors have been anxiously awaiting news regarding spot bitcoin ETF approvals from the SEC, Hong Kong may get the jump on the space as officials there are now actively looking into offering the same type of product in a bid to become the crypto hub for Asia.

Finally, there's a deep dive to determine how much BTC whales own. It could be less than we think, but whales can still move the market.

And now, let's jump into the newsletter!

Top Bitcoin Mining Stocks for 2024

by Anatol Antonovichi

A foundational part of the bitcoin architecture is participation through mining. This process of sharing processing power to verify transactions provides this decentralized network with a way to function without a central authority.

But, because mining calls for a high threshold of processing power, it has become the domain of large mining organizations that can leverage resources to remain competitive in a crowded field.

In this article, we’ll cover some of the top bitcoin mining companies for investors, including graphics card manufacturer Nvidia (NVDA), tech company Riot Blockchain (RIOT), and hardware innovator Canaan (CAN).

If you are a traditional investor with no crypto exposure, investing in the crypto mining sector might be an excellent diversification approach. Now could be a great time to “buy the bottom.”

Learn which stocks will benefit most from higher BTC prices >>

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Upcoming Event: Blockchain Book Club: "Enterprise Strategy for Blockchain" with Ravi Sarathy

Join us Wednesday, November 15th at 6:30 pm ET for an online discussion of Ravi Sarathy's groundbreaking book "Enterprise Strategy for Blockchain."

The author will join us for our event, and it will be moderated by Michael de la Maza, Professor of Business Analytics and Machine Learning at Hult International Business School.

Take advantage of this unique opportunity to meet Ravi Sarathy and hear his thoughts and reflections on this incredible book.

We will begin the session by brainstorming and voting on questions related to the book and then discuss them in order of popularity.

Ravi's book is an excellent read to understand the business perspective on blockchain technology, describing the unique benefits that it provides across a wide variety of industries. This is excellent information for investors who are trying to analyze blockchain companies to determine if they are a good investment or not.

We hope to see you there! RSVP here to get the Zoom link.

Not a Premium member yet? Sign up today for access to our special events and our entire library of webinars, crypto scorecards, and other member-exclusive content. It's a solid investment in your future!

Must Read

Today's most important stories for crypto investors.

Former Crypto Day Traders Say No Thanks Even as Bitcoin Roars Back

(Bloomberg)

Investor takeaway:Between 2013 and 2017, Peter To made over $1 million by day-trading bitcoin... but he has lost interest in it due to reduced volatility and market inefficiencies. The crypto industry is seen as entering a more mature phase after the FTX exchange collapse and the conviction of its co-founder, Sam Bankman-Fried.

This article tells the stories of several traders who have moved on, in one way or another, from crypto. Their reflections tell the story of a modern landscape that has moved away from YOLO investments and into a more cautious space. Notably, they argue that investors like themselves have no reason to throw their entire purse into crypto, opting instead for investments in various opportunities--much like we articulate in our Blockchain Beleiver's Portfolio.

Hong Kong Mulls Allowing Spot Crypto ETFs in Pursuit of Asia Hub

(Yahoo! Finance)

Investor takeaway: Hong Kong is exploring the possibility of allowing retail investors to access ETFs directly investing in cryptocurrencies. It aims to establish itself as a digital asset hub in Asia-Pacific. The city is also looking into tokenization and has relaxed restrictions on security token offerings. These developments are part of Hong Kong's efforts to compete with other regions like Singapore and Dubai in the growing digital asset market.

Hong Kong's potential new policies could create opportunities for exposure to digital assets through ETFs and tokenized securities. Those looking for regulated investment avenues may find Hong Kong's evolving framework and offerings attractive. We see potential in keeping an eye on this growing market both for its opportunities and how it will reflect potential well-regulated markets in the future.

How Much Bitcoin DOES the Top 1% Own?

(Crypto With Lorenz0)

Investor takeaway:Do the top 1% hold the majority of crypto?

Individuals and entities often possess multiple wallets, complicating the perception of wealth concentration. There's also the issue of control versus ownership of bitcoin wallets. Notably, issues of market manipulation remain due to concentration in a few hands. Despite this concentration, cryptocurrencies have enabled a shift in wealth for early adopters and risk-takers.

While there is a significant concentration of bitcoin in a few wallets, this may not fully represent control or ownership. Additionally, the trend toward non-custodial wallets suggests a growing preference for long-term investment in bitcoin. Please keep in mind the potential for market manipulation in cryptocurrencies with high wealth concentration and consider the broader implications of wealth distribution in the crypto market.

Long-Term Wealth

$1K invested at today's market prices

This asset	invested 5 years ago	is now worth
Bitcoin (BTC)	$1,000	$5,498
Ethereum (ETH)	$1,000	$4,391
Uniswap (UNI)*	$1,000	$833
BNB Chain (BNB)	$1,000	$18,177

Note: The future may look different from the past. Please invest carefully.

* As UNI is less than five years old, we calculate from the launch date (Sep 2020).

ICYMI