Bitcoin: The Last Rally Is Loading
Main Idea
The author discusses their investment philosophy centered around Bitcoin (BTC-USD), highlighting its strong performance since 2023 and their long positions in related assets.
Key Points
1. Bitcoin (BTC-USD) has outperformed nearly everything since 2023, despite initial skepticism and mockery.
2. The author's investment philosophy focuses on deep fundamentals, impactful narratives, and Austrian economics.
3. The author holds beneficial long positions in BTC-USD, FBTC, MSTR, and IBIT through stock ownership or other securities.
4. Short-horizon research will focus on options and volatility for income generation and hedging.
Description
Summary I remain bullish on Bitcoin, maintaining a Buy rating with a cycle price target of $175,000 and a bull case of $300,000 before 2026. We are in the euphoria stage, evidenced by rampant crypto IPOs, mergers, and proliferation of treasury companies. Despite signs of exuberance, macro conditions and strong demand from treasury companies suggest another major rally is likely before a cycle-ending bear market. Bitcoin ( BTC-USD ) has outperformed nearly everything since 2023 when I published t...
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