🚀BREAKING: Up +101% in 6 weeks – what is going on?

👇 1) Ten weeks ago, we suggested that Bitcoin mining stocks could be the ultimate bet for 2024. Since then, those stocks have rallied by 60-80%. Six weeks ago, we looked closer into Bitdeer. This stock was recently (April 2023) listed through a SPAC at $1.2bn after a renegotiated listing deal from November 2021, which initially valued the entity at $4bn.

👇 2) Bitcoin was down -40% from the high while the company value was down -70%. Not a bad discount.

👇 3) The six-month post-listing lock-up was taking effect, and the stock sold off, likely because early investors were finally able to cash in. When we suggested that this stock appeared to offer a massive upside as the stock price had just dropped another -70% due to this temporary selling pressure. The value was $320m.

👇 4) Effectively, the shares had declined by another -70% since they were listed, while Bitcoin had rallied from 28,000 to 34,000 – taking out the critical 30,000 resistance level. Someone was not paying attention. In addition, we expected a super strong Bitcoin performance in 2023, especially for the rest of the year. We were bullish, and the stock was cheap.

👇 5) Today, the stock closed up +101% since we initially recommended it when it traded at $3.1. While Bitdeer had previously announced its business relationship with NVIDIA by becoming a preferred cloud service provider, it updated its operations last night.

Exhibit 1: Bitdeer stock is up +101% since we recommended it

👇 6) Bitdeer mined 403 Bitcoins in November 2023 (worth $18m at today’s prices, or $215m annualized), up +81.5% YoY, with mining machines up +44%. The company will likely announce Q4 earnings in mid-February 2024, and with the current Bitcoin price significantly higher than a year ago (16,000), we would expect strong earnings. Bitdeer tends to convert the mined Bitcoins quickly into fiat and, therefore, locks in the price, making the earnings predictable and less volatile.

👇 7) Next week, we will publish another idea that could rally +100% or more in 2024. Want to be the first to hear about this idea? Then, we suggest becoming a paid subscriber to this newsletter.

👇 8) We will also start offering a ‘crypto-for-professionals’ service that goes beyond a paid newsletter. Under www.10x-Research.com, we will provide a weekly deep dive as our institutional clients have enjoyed previously, with a focus on Bitcoin (and Ethereum or whatever is BIG and RELEVANT and TOPICAL), how macro, and central bank policies impact prices, data around our predictive analytics that we have been developing for the last 10-15 years as well as trading timing signals and flash updates and more.

👇 9) We will also work with institutions and crypto service providers and help them with their services. If interested, let us know [email protected].

👇 10) To summarize, 10x Research will offer THREE services:

a) a paid newsletter (this one, nothing will change for subscribers),

b) a premium ‘crypto-for-professionals’ service (weekly research reports), and

c) we will also work with crypto service providers and help them with their services.

Any questions? [email protected].