To The Moon

🌟🌟🌟Next to AI, Bitcoin and Crypto stocks are sizzling hot this year.  Bitcoin hit a 2 year high on Tuesday, on track for its largest 2 day rally in 2024 as the Big Companies were buying Bitcoin ahead of April's halving event.  Ethereum topped USD 3200 for the first time since 2022.

Bitcoin has surged more than 10% in just 2 sessions, helped by Monday's disclosure from Crypto Investor and Software Company Microstrategy that it had recently purchased 3000 Bitcoins valued at USD 155 million.

Bitcoin is now up 4.7% at USD 57,232 while Ethereum reached USD 3290, its highest since April 2022.

$Marathon Digital Holdings Inc(MARA)$ led the Crypto stocks rally as it is up 3.4% today and in the last 5 days, MARA has jumped a massive 32%.  In 2023 MARA was up 326%.  Today MARA is set to report its 4Q23 results after the market closes.

$Coinbase Global, Inc.(COIN)$  is also up 2.7% today and in the past 5 days Coinbase has jumped an impressive 26%.  In 2023, Coinbase was up 207%.

Coinbase Q423 earnings released in February 15, beat expectations.    Coinbase posted Q423 adjusted earnings of USD 1.04 per share, compared to a loss of USD 2.46 per share year over year.  Analysts had expected to report earnings of just 2 cents per share.

Coinbase's Total Revenue grew 41% to almost USD 954 million versus expectations of just USD 826 million.  The quarterly results received a boost from transaction revenue growing 64% from previous year due to Spot Bitcoin ETFs approval.

Another Crypto miner Riot Platforms is up 10% in the past 5 days  and in 2023 it was up 168%.

So rather than buying these great Crypto stocks individually, I have invested in $iShares Blockchain and Tech ETF(IBLC)$ which included all these best performing stocks and much more. 

IBLC ETF is up 14% in the past 5 days and is up 118% in 2023. 

The Top 10 holdings include Marathon Digital with 18% weightage, followed by Riot Platforms at 10%, Coinbase at 9.9%, Clean Spark at 7%, Bitfarms at 6%.  

There are also the best AI performing stocks$NVIDIA Corp(NVDA)$  and $Advanced Micro Devices(AMD)$  both at 4% weightage each, followed by IBM, Iris Energy and Block. 

Top 10 holdings weightage is 70%.  Total number of holdings is 37.

Expense ratio is 0.47%.  The current distribution yield is 2.4% paid half yearly. 

Thanks to the recent surge in Crypto stocks, I am up 25% in IBLC.  IBLC offers me a low cost way to diversify into Crypto stocks without the angst and worry about negative news affecting individual stocks.  IBLC gives me the combined power of the best Crypto stocks nicely packaged into 1 basket.  

Bitcoin and Crypto stocks do experience high volatility but with IBLC ETF, I can ride the highs with confidence and optimism.   That is my favourite way of investing. 

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