BLOK Benefitting From Bitcoin's Boom, Reiterate Buy
Main Idea
Bitcoin has seen significant growth, surpassing its previous all-time high and increasing by over 100% in the past year.
Key Points
1. Bitcoin (BTC-USD) has approached the $120,000 mark after surpassing its previous all-time high near $112,000.
2. The cryptocurrency has increased by more than 100% over the past year.
3. Bitcoin and gold have both performed well recently.
Description
Summary Bitcoin and BLOK have shown strong performance, but August and September are typically weak months, suggesting caution in the near term. Despite seasonal risks, I maintain a buy rating on BLOK, supported by its favorable valuation, high momentum, and constructive technical chart. BLOK offers diversification across growth, value, size, and geography with a reasonable P/E and attractive PEG ratio, though it remains a high-risk, concentrated ETF. Technically, BLOK is in a strong uptrend wit...
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