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What’s Lichtenfeld’s $30 Crypto Stock?

Checking out Oxford's pitch for the "Goldman Sachs of Crypto"

By Travis Johnson, Stock Gumshoe, August 26, 2021

This is a teaser pitch that I solved in a Friday File for the Irregulars back on May 7, but I continue to get a lot of questions about it so I’ve opened that solution up to the rest of our readers — most of what follows was published in that Friday File three months ago, and has been only lightly updated to incorporate the more recent quarterly updates. The stock was trading in the high-$20s going into this teaser pitch, and currently is at about $17.

From May 7:

Marc Lichtenfeld is out with a new pitch for a high-end Oxford Club service he’s launching called Predictive Profits ($1,497 “on sale” from $4,000, no refunds), and the key tease he’s dangling to get subscribers is “the ticker symbol for my #1 crypto stock” that will be revealed in a special report that he calls “The Tiny Crypto Stock Every American Should Own.”   That has generated some reader questions, and I’m seeing the ad a lot over the last day or two, so even though it’s not at all a tough teaser to solve we’re going to spend a little time on it for you, my favorite reader.

Here’s the intro to the tease:

“DON’T Pay $50,000-Plus for Bitcoin (Do THIS Instead)
✔ 36 crypto opportunities
✔ One investment
✔ Under $30”

And, as in so many of my favorite teaser pitches, he shows some Google images of the company’s headquarters to make it seem like he’s a private eye on a stakeout, really doing boots on the ground research…

“In this unassuming office building…

“10 minutes from Wall Street…

“One tiny company is collecting cash 24/7 in a market that NEVER closes.”

Exciting, right? And though it’s in New York, it doesn’t trade on a major US exchange — exotic!

“It doesn’t trade on the New York Stock Exchange…

“The Nasdaq…

“Or any major American exchange, despite being smack-dab in the middle of New York City and the world of finance.

“The average person doesn’t even know it exists.

“But if you know how to claim shares of this under-the-radar company…

“You could collect a substantial sum from the crypto markets.”

The ad then rolls through a lot of the general “crypto is growing” stuff that you already have heard many places — companies like Tesla are buying in, big-name investors who shunned it years ago are piling on, and the total market value for all cryptocurrencies has gotten too big to ignore, over $2 trillion now.

And he posits this as an easier entry to the market for regular folks…

“This crypto opportunity costs less than $30.

“And it’s a STOCK… not a token or coin.

“So you WON’T have to open a crypto account or set up a complicated wallet.

“You can do it in ANY standard trading account.

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“It’s the easiest way to play this trillion-dollar market… as more companies like Visa, PayPal and major banks adopt crypto technology.”

And not just easier, but maybe even better…

“The stock that I’m talking about today is an essential part of that foundation. It helps big companies make their crypto investments and profits from these new technologies.

“And as you’re about to see, it actually has far higher upside than almost any digital currency right now.

“This company has its hands in pretty much every aspect of this trillion-dollar industry.”

More clues about this stock?

“This stock has investments of its own in 36-plus pre-IPO crypto companies.

“And it manages $1.2 BILLION in crypto assets for clients, the way BlackRock manages stock portfolios for the ultra-rich.

“So by owning shares in this crypto stock, you can get in on the next generation of crypto projects BEFORE anyone else….

“I believe it’s the easiest no-brainer investment of this decade.

“Yes, even better than Bitcoin.”

I know, I know, that was plenty of clues and you know the answer to this one already… but indulge me a moment, I want to distill a bit of what Marc says he likes about the company, before I get into it in a bit more detail myself… he says this business has four “pillars”:

“Crypto Pillar #1: Trading Unit

“The first pillar of the crypto stock’s business is its trading desk.

“Trading desks are some of the most lucrative businesses in the world.”

In the context of Wall Street, the trading desks are the people who move the shares around, facilitating trades and taking a tiny commission at each step, so they profit from volatility. More trading action is good, and for institutional money managers who don’t want to be blamed for screwing up, trading institutional-level amounts of money in cryptocurrencies is terrifying on unregulated platforms or offshore exchanges. Lichtenfeld says this company processed $1.4 billion worth of trades last quarter, and also acquired two other companies that will enhance their offerings in derivatives and increase the trading volume on their platforms.

Next?

“Crypto Pillar #2: Asset Management

“Its crypto fund, which has $1.2 billion in assets under management – and that number is growing.

“It provides several different crypto investment funds folks can buy into.

“And this is a huge area of potential growth.

“Because 3 out of 4 advisors report getting questions about crypto from their clients.”

They also worked with Bloomberg to build a crypto index, apparently, which can be used for funds and ETFs and generate more fees.

“Crypto Pillar #3: Investment Banking….

“It arranges financing for other crypto companies.

“Another wildly profitable business model….

“According to Crunchbase, there are 4,048 crypto companies out there.

“And this early in the game, pretty much all of them will need funding.

“If this company manages to snag eight more deals each year – out of the 4,000 out there – revenue would DOUBLE.

“And if it does deals for just 2% of those companies…

“That’s a 12X increase in revenue!”

That’s all pretty much spitballing, we have no idea what will happen on that front — but it’s true that investment banking fees are shockingly high, and underwriters of IPOs make a lot of money on big deals. And yes, there are a lot of startups out there in crypto-land who need funding.

And the last one:

“Crypto Pillar #4: Venture Capital…

“Venture capital is the path to some of the BIGGEST investment gains in the world.

“And this tiny crypto stock has invested in 36-plus pre-IPO companies…

“So when you grab some shares of this publicly traded stock…

“You’ll have access to the vertigo-inducing profit potential of these breakthrough companies.”

There’s plenty of other teasing and hinting in the pitch… as I said, it’s not particularly super-disguised, you can even read the address of the building in the Google Earth image they use if you squint a little. He throws out a couple examples of the VC investments they’ve made, mentions that they’re also getting into mining as a fifth “pillar”, and mentions that, like some other folks, he calls this company the “Goldman Sachs of Crypto” — partly because the CEO was a Goldman partner, partly because it’s hoping to replicate Goldman’s massive success in a newish market.

So yes, of course, this is another tease of Galaxy Digital (GLXY.TO, BRPHF), which I’ve owned for a few weeks and first covered when Frank Curzio was also teasing it as the “Goldman Sachs of Crypto” a little over a month ago.

Galaxy Digital is a little bit tricky to value, because what we’re actually buying as investors is a holding company that owns a minority stake in GDH LP, the operating partnership which is controlled by, and majority owned by, Michael Novogratz (you can read the details in their SEDAR filings (I recommend the March 30 MD&A as a starting point) if you’re a glutton for details, but the way I calculate it the public company, GDH Ltd, owns 92.7 million shares and the other partners, largely Michael Novogratz, own 229 million shares). That would mean there are about 322 million shares outstanding, in total, which gives the company an effective market cap of about $8.9 billion at the roughly $28 price it trades at recently (that’s in US$, the primary trading is on the Toronto Stock Exchange, priced in Canadian dollars, but they do report in US dollars and are based in New York).

That structure also means, importantly, that Novogratz is essentially an emperor — the non-public partnership owners control 70% or so of the company, he owns most of those units personally, and he can do almost whatever he likes with his company, without a lot of limitations (though there are some, and that may change as they grow). And he’s been a wild-and-crazy dice roller kind of investor for decades, losing two fortunes along the way, so it probably goes without saying for any investment in the crypto space… but we should be mindful of the risk. I added Galaxy Digital to my Lock Box portfolio today, tying up a $5,000 position for five years.

And I should be clear, in the cryptocurrency world that strikes me as mildly terrifying.  I have no idea whether Bitcoin and the other major cryptos will surge 100X higher in the next five years, or be completely discredited and fall 99%, or if they’ve stabilized around here and they will be somewhat “normal” going forward.  That’s why I wouldn’t be as inclined to commit to a narrower crypto-associated investment like Coinbase (COIN) or Voyager (VYGR.CX, VYGRVF) for five years here, nor would I commit to do that with a single cryptocurrency (though I have certainly held both Bitcoin and Ethereum for more than five years now, with plenty of small-scale buying and selling along the way), but I am willing to tie up money for five years based on the general idea of cryptocurrency and blockchain continuing to grow over time.

What makes Galaxy palatable as a “lock it up” investment for me is the flexibility — they have five major business lines, a huge number of venture investments, a strong early-building brand in crypto in general and an early “in” on building a crypto platform for institutional trading, and that gives them a lot of ways to surprise us over the next five years with new ways of making money beyond just profiting from rising investor enthusiasm for cryptocurrencies in 2021.

What makes it worrisome is twofold: Novogratz has overwhelming control and could screw it up; and, of course, if cryptocurrencies collapse in value, Galaxy shares will also collapse (they were at $3 just last fall — the business has certainly grown remarkably since then, partly with acquisitions and partly with operational success, but most of the success has come because Bitcoin has risen… Bitcoin is up 300%, while Galaxy shares are up roughly 600%).

I think that’s worth the risk, given the huge number of institutions and large traditional investors who are getting interested in bitcoin exposure, and the likelihood that investment in this sector will continue to be meaningful… but it might be a really, really bumpy ride. It wouldn’t shock me if Galaxy fell back well below $10 at some point in a future crypto crash, and it might be that my Real Money Portfolio holdings will hit a stop loss or I might take profits if we soar higher [update: they did, I stopped out], but that new Lock Box position will be frozen for five years, come hell or high water (or liquidation or acquisition), and I’m looking forward to seeing what it’s worth in May of 2026.

Lichtenfeld touched on some of the reasons to like Galaxy in his promo, it’s a pretty broad-based investment banking, venture capital, trading and asset management business with pretty good early tendrils into reaching its goal of bringing cryptocurrencies into the institutional mainstream…. but he didn’t mention the biggest potential catalyst outside of crypto prices, or Galaxy’s latest (and largest) acquisition.

Galaxy Digital moved closer to its US listing goal this Spring, which could be a major catalyst, and also improved its “all in one” services goal for institutional clients with the acquisition of crypto infrastructure company BitGo, announced in May and likely to close before the end of the year. BitGo adds portfolio and tax management services, more capabilities in prime brokerage, and custodial services to the Galaxy offerings — you can see their presentation about the deal here.

That deal, assuming it closes, is a big one, costing Galaxy roughly a billion dollars, and it will also mean that the company moves to a Delaware corporate headquarters instead of the Cayman Islands. That deal is not a surprise, they’d been publicly connected for at least several weeks (and Galaxy Digital was an investor in BitGo in their venture rounds… though BitGo was previously rumored to be in acquisition talks with PayPal last fall), but it’s also a good step toward maybe getting a “grown up” NY listing, which is almost always a big deal.

I’m curious to see whether Galaxy also streamlines its ownership structure at all before trying for that NY listing, since I imagine the SEC will have lots of questions about the convoluted partnerships, but I’m willing to invest before that gets easier to understand… and just moving from Toronto to New York has the potential to lift trading interest (and the share price) in a meaningful way. I haven’t seen any average assessment of the impact of a Toronto-to-NY uplist, but the anecdotes are common — when Canadian asset manager Sprott applied for a NY listing, for example, the shares shot up 30% on that news… the shares gave up that gain immediately, and there were other things going on as well, including a spike in gold prices, but the stock did climb back to those levels and higher by the time they actually got listed a couple months later, and remain at a richer valuation than they typically held in Canada in recent years.

The challenge is that though they’re growing, with $1.6 billion in assets under management (AUM), that shifts wildly with Bitcoin and Ethereum prices jumping around like crazy, and the business won’t be big enough or stable enough for quite a while for us to value it as a regular asset manager or investment bank, at least compared to a big asset manager in the “regular” financial world. BlackRock, for example, is the world’s largest asset manager with almost $9 trillion under management, but a lot of that carries tiny ETF fees and the company is valued at $132 billion, roughly 1.5% of AUM… Blackrock is valued at roughly 4X book value and 25X earnings… Brookfield Asset Management (BAM), which is a huge specialized asset manager in real estate, distressed debt and other areas, has about $600 billion in AUM, so is valued about 9% of AUM, and trades at 2.25X book value and probably about 15X FFO.

But the more difficult valuation calculation comes from the fact that the vast majority of their assets and their income is just the gain or loss on their digital assets in any given quarter. The value exploded higher in the March quarter, similar to the December quarter, probably some realized and some unrealized, but, as the huge decline in the second quarter showed us, that’s not sustainable because Bitcoin won’t be going up 50-100% every quarter (so on paper, they “made” $200 million in profit in the first quarter and “lost” $50 million in the second quarter, almost all of that driven by re-pricing their crypto investments — and that’s with their venture investments doing quite well, offsetting some of Bitcoin’s 40% decline). You can’t annualize and forecast based on windfall gains in extremely volatile assets… but the problem is, we don’t really have a reasonable way to guess what “normal” will be for Galaxy. Mostly because we don’t get to know what Bitcoin will do in an average year… there is no “normal” in this space.

So my attention remains drawn mostly to book value, and I accept that all of these values could shift wildly as Bitcoin prices change. Right now, I think they should have a total book value of between $1.5-2 billion, though that fluctuates through the year, and the public shareholders’ piece of that is about $350 million, so a public market cap of $1.6 billion means we’re somewhere in the 4-6X book value neighborhood (the numbers look a little odd because the publicly traded shares are just a portion of the overall company — most of Galaxy is owned by the partnership, primarily Novogratz, so the overall company would have a market cap of more like $8-10 billion, with total equity of about $1.8 billion). We’re arguably paying too much for that at this point if we assume that Bitcoin has peaked and will go down, and we’re getting it at a discount if we assume that Novogratz is right in his forecast that Bitcoin will hit $100,000 by the end of the year.

That’s a frightening valuation metric to use if you’re a cautious person, since book value can either double or get cut in half in a quarter for these guys, and it’s a challenging comparison — but it’s not necessarily wildly out of line if Galaxy is becoming a mainstream financial services company in a fast-growing business. Goldman Sachs trades at 1.3x book value, for some context (though when they were smaller, and before they became a bank to save themselves in the financial crisis, they were a $50 billion investment banking partnership and traded at 4X book value 20 years ago)… traditional asset managers who own mutual funds (like AMG) might trade at 3X book value.

I like Galaxy because it’s an unusually diversified way to get exposure to the cryptocurrency world, in a way that is very tied in to institutions and includes substantial fee-earning potential as those businesses are built up in asset management, prime brokerage (including lending and custodial services), and investment banking (including M&A consulting, IPO sponsorship, and investment in VC for their own account). It’s not cheap… but, well, neither is Bitcoin.

If cryptocurrencies continue to rebound and have a strong year, then I suspect Galaxy, with its likely move to a NY listing and it’s substantial market presence in institutional crypto trading, should do at least as well as Bitcoin and Ethereum.

Of course, the appeal of these investments changes dramatically with shifting prices for (and interest in) cryptocurrencies. If we get a 90% drop in Bitcoin, they will collapse. If Bitcoin doubles again next month, they will surge far higher. I don’t know which way it will go, but my personal sense is that interest is still growing, both among institutions and among investors, and that the rapid rise in prices for Ethereum and many of the smaller tokens (yes, including the gag coin Dogecoin) is an indication of that rising interest.

And in case you’re curious, Lichtenfeld also teases that he will give subscribers ““My #1 Pick-and-Shovel Play for the Crypto Revolution.”

Here are the clues he drops for that one:

“All this crypto mining and keeping the networks running require heavy-duty computer power.

“There are only a few companies that have the right patents for this tech… so all the miners have to buy their equipment from them.

“And I predict one will take the lion’s share of the profits as it sells the “picks and shovels” to crypto miners.

“Its machines run blockchain networks all over the world.

“In fact, it was the FIRST to invent computers dedicated SOLELY to mining Bitcoin.”

I’m sure there are many folks who would argue about who was first in this space, but the first commercially available ASIC for bitcoin mining was released by Canaan Creative back in 2013, setting a new standard for cost and efficiency for bitcoin mining chips (mining started out pretty easy, and could be done on a standard computer… then GPUs were used to up the performance, followed by FPGA chips to reduce costs and tune the process more, then by ASICs once there was enough volume to justify bespoke chips for the purpose). So I expect that Lichtenfeld is probably teasing Canaan (CAN) here, which is still a big player in mining hardware and ASICs, though that world is far more competitive now than it was a few years ago.

I’ve written about Canaan before, when it was teased by Jason Stutman about a year ago, and it has done extraordinarily well since then, no surprise, thanks to the rise in bitcoin prices… but I remain not terribly interested in the hardware business for cryptocurrency mining, my exposure to that business through NVIDIA (NVDA) is probably enough for me. This is what I said about Canaan in March of 2020, when they were also under some short attack pressure that alleged fraud (which didn’t end up amounting to much):

“… for me, this is at best a levered play on bitcoin, which could be a great thing if bitcoin really does surge as so many expect this year, and at worst either a fraud or a small chip designer whose margins are being destroyed by pressure that will be familiar to any other small semiconductor maker, so I’m not comfortable enough with that risk/reward setup to consider an investment. If I were to bet on Canaan, I’d keep the bet extremely small.”

At that point the shares had fallen from $9 to $3, and they stayed down near $2 for most of 2020… but then, with Bitcoin taking off, they surged to $35 in March and have now fallen back down below $10 again. If you can figure out what they should be worth, more power to you, I’ll continue to leave that speculation to others.

Disclosure: Of the stocks mentioned above, I own Galaxy Digital and NVIDIA. I also hold positions in a variety of cryptocurrencies, including Bitcoin and Ethereum. I will not trade in any covered stock for at least three days after publication, per Stock Gumshoe’s trading rules.

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david222
david222
August 26, 2021 12:21 pm

Travis, have you looked at Silvergate (SI)? I believe you uncovered it as someone’s teaser pick over a year ago.

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j macswan
August 26, 2021 12:24 pm

I’m generally leery of anything pitched by Oxford after my experience with their oft-hyped “secret” version of Foxconn at $3. The stock had a reverse split that settled the price below the market price at the time of the split and it stayed there. Not unlike having your pocket picked.

I have always been interested in blockchain investment, other than in cryptocurrencies, but the pickings have been slim and often volatile (not in a good way). Coinbase is an example of one that took off like a rocket at the IPO with lots of investors chasing it up. Then the inevitable happened when everyone realized it was way overbought.

Galaxy is interesting, but it seems vulnerable to the fortunes of Bitcoin, whose legs might be a bot wobbly. As a privacy coin it will have challenges attracting financial service companies that fear the long arm of regulators. And the whole of the proof-of-work model it’s built on has powerful challenges from the green movement. I would, however, be interested in a careful analysis of Ripple Labs before it goes public, presumable after settlement of the SEC’s frivolous lawsuit against it. I think it has gram slam written all over it.

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freddy-potless
freddy-potless
August 27, 2021 8:03 am
Reply to  j macswan

Lyn Alden just published this on Seeking Alpha re Bitcoin Mining power usage. Well worth a read.

“Lyn Alden Schwartzer: Bitcoin’s Energy Usage Isn’t A Problem. Here’s Why.”

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matt
Member
matt
August 26, 2021 12:35 pm

Have you looked at OSTK with Tzero?

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matt
Member
matt
August 26, 2021 1:24 pm

Thanks for the reply. You are correct, Tzero has historically not brought on new business. And that has been a big disappointment. Recently things have changed and they are onboarding businesses. I believe they are focused on that now and are working towards a critical mass leading to a snowball effect of new businesses. Or so it is hoped.

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James M
Member
James M
August 26, 2021 1:20 pm

To bad you didn’t mention DEFI in all that wonderful info you provided, As the nascent concept of decentralized finance (DeFi) gains traction in cryptocurrency trading — and draws more regulatory scrutiny — new players are creating products to meet rising demand.

Enter Galaxy Digital (GLXY.TO), which last week rolled out a DeFi Index Fund, their newest blockchain-based financial asset. The passive instrument tracks the performance of Bloomberg’s Galaxy DeFi Index, and is part of an estimated $80 billion industry that’s poised for explosive growth in the coming years.
DeFi is not a new segment of the crypto space, but it has grown exponentially in the past year from $6.8 billion to $80 billion, according to data from DeFi Pulse. There’s been a lot of news come out just recently surrounding the Defi space and how GLXY would love to be able to tame that”Beast”. Galaxy Digital’s new fund is an attempt to offer clients a lower risk, and more regulatory-friendly way, to gain exposure to DeFi. The fund has been seeded by NZ Funds, a $2 billion institution that manages retirement savings accounts for New Zealanders.

NZ Funds is not a newcomer to investing in the crypto space. Previously, the retirement savings institution seeded Galaxy Digital’s Ethereum (ETH-USD) fund earlier this year. Before that, it took part in a $50 million private investment in Galaxy Digital Holdings’s public equity. Nick Juhle, director of research for wealth management firm Greenleaf Trust, faces this problem. With a total of $17 billion in assets under advisement, Greenleaf provides wealth management to approximately 1000 high-net worth individuals.

Since 2017, Juhle has received calls from clients every time Bitcoin’s price surges, asking why the firm hasn’t parked any cash in crypto. Yet Juhle still won’t budge, because his team hasn’t found a way to value it based on traditional valuation frameworks like cash flow and earnings results.

“The challenge with crypto, Bitcoin being the prime example, is that it doesn’t really have intrinsic value. You can price it but you can’t really value it. That’s always the issue that we’ve run into,” says Juhle. At this point, valuing the best DeFi protocols runs into the same issue for Juhle.

However, there is no unifying collective valuation framework for DeFi, according to Steve Kurz, Galaxy Digital’s Head of Asset Management. It’s a clear barrier for more traditional retail and institutional investors with no crypto exposure, even if they are willing to accept the higher volatility synonymous with crypto. I do apologize for all this babble and dribble , can’t help myself sometimes, it’s like walking into Home Depot for one thing or for a quick in and out. Lol I have several invest in the crypto companies space. I do own shares in GLXY.TO and as you’ve might have guessed it……DIFI.NE GLTA , and to my Stock Gumshoe Updates that I look so forward to receiving and hearing from its Master Travis Johnson…… Thank You!

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slope_n_heimers_coven renegeve
Member
slope_n_heimers_coven renegeve
August 26, 2021 1:48 pm

Anything crypto – know you can’t resist – so just tried for 2 shares in – got “non-DTC elibible” no-can-buy at my brokerage. And I activated OTC buying-capable ages ago with them. Noticed BRPHF (Yah Fin) going since 2006. First thing you see at their site:

“Galaxy Digital is a diversified financial services and investment management innovator in the digital asset, cryptocurrency, and blockchain technology sector”

So before blockchain they were 1/3 of the above description we presume(?):
“Galaxy Digital is a diversified financial services”

Now, since blockchain you add:
“…Investment management innovator in the digital asset, cryptocurrency, and blockchain technology sector”

Just a couple words…”and they grew 2/3 bigger overnight.” And the howling-hoopla running these days in crypto makes that 4/3 – no, meant 40/3? “Get used to it.”

I only wish I could buy TONNNs therefore!

I’ll settle for 2 shares bought if somebody can just list a few brokers that don’t play these non-DTC eligible games with one.

WHERE is the place/broker they’ll let you buy anything that’s still kicking out there? Where there’s no problem that’s its delisted or non-DTC eligible etc.?

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oliveira
oliveira
August 26, 2021 4:36 pm

Why don´t you try TD Ameritrade? They allow you to buy what you want, where you want without restrictions.

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ValueBuyGuy
Member
ValueBuyGuy
August 27, 2021 12:48 pm
Reply to  oliveira

No they don’t, log in to see the latest OTC restrictions, they also copied Robinhood’s sales restrictions on the squeezes.

charlie1030
Member
August 26, 2021 4:11 pm

Oxford hasn’t published anything else on BRPHF since the April 30 report. It is my only exposure to crypto since there is nothing to pragmatically base a valuation on bitcoin other than pure speculation. I too have the stock in long range speculation (at $20) and for this type of investment, I keep a 50% stop level instead of my ordinary 25% so I have not been stopped out yet.
HNHPF is up about 25% from when it was first pitched and has about a 2.5% dividend so I am also holding on to that for now.
Unfortunately Oxford does make a number of recommendations that are not carried in their portfolios and investing in those does not always pay off. In my opinion, in general, if they do not make a recommendation from one of their many portfolios, it probably is not something to invest in. I typically only invest in those after reading what Travis has to say.

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DeanFX
DeanFX
August 26, 2021 7:32 pm

As always, appreciate your insight and analysis. Already invested in BRPHF!

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Loy
Member
Loy
August 26, 2021 11:02 pm

Thank you Travis, for all the input on Galaxy & the crypto asset sector. Lots to think about.

Cabron
Cabron
August 27, 2021 1:59 am

I’ll wait for the next 90% crypto correction before I buy anything blockchain or crypto related.

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Justin
Guest
Justin
August 27, 2021 6:42 am
Reply to  Cabron

youlll be waiting forever

socr
socr
August 28, 2021 10:04 am
Reply to  Cabron

Problem is that the hype could go up +500% before crashing 90%,that crash will come because 95% of the crypto’s are junk,the good projects will survive but will have crashed too before the next boom arrives

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federalist78
federalist78
August 29, 2021 3:49 am
Reply to  socr

There’s no such thing as a “crash” anymore. Just dips to buy…

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educatedron
Irregular
August 29, 2021 7:58 pm
Reply to  Cabron

Just had a 50% correction, 90% correction aint happening though. When it gets to the 80’s I predict it will do another 50% correction though in the 40’s

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Justin
Guest
Justin
August 27, 2021 6:43 am

should add, GALAXY owns 16,000 + BTC, and approx 100,000 ETH

so if you believe 100k BTC and $10,000 ETH in near future. Do the math

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fred
August 27, 2021 6:49 pm

i did write to the same subject about a couple of months ago, now i want to let you guys know something about galaxy, galaxy is a difi (diversified) bank and not a defi( decentralized bank or exchange or bank so taxes will apply, i have bought them with td ameritrade they still on the O.T.C. over the counter it will cost $10.00 canadian, (pink sheets in usa).

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vj1111
vj1111
August 27, 2021 7:03 pm

Have both Galaxy and Voyager and few crypto tokens. Oxford also talked about 3 crypto tokens to invest along with this tease, Travis maybe you can get your thinkolator working.
I am a subscriber of 3 Oxford services, communique, income and sti, pretty happy with recs and returns
Thanks

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fred
August 28, 2021 1:36 pm
Reply to  vj1111

are you planning to help the community with the 3 crypto names ! it would be nice of you , i helped the community whenever i had info on stocks and i will do so in the future, let’s help each other this will make all of us better and with Master Travis well’ be at the top.

vj1111
vj1111
August 28, 2021 4:57 pm
Reply to  fred

Yes Travis we need your help.
My own thinkolator says vet, ckb and dot
Thanks

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jbmaverick
August 29, 2021 8:51 pm

I like Galaxy. Bought it around $7 early in the year, sold it around $12. Looking to re-enter.
I think it may have good price support if for no other reason than I get an email at least once a week or so recommending it – in other words, it’s being widely touted by multiple sources.

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aati
Irregular
September 7, 2021 10:29 am

so if I want to buy Galaxy do I buy shares of BRPHF or GLXY.TO ?

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infinity beyond
September 15, 2021 12:20 am

defi technology inc… Teeka is involved in this company

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Todd Snell
Guest
Todd Snell
December 25, 2021 8:52 pm

I will say my biggest dividend influence is Marc Lichtenfeld. I utilize his 10-11-12 system. He runs a website and YouTube channel of the same name Wealthy Retirement. He also has an investment newsletter Oxford Income. It probably costs $50-70 a year. That will offer you a strategy, rules and overall guidance. This separates the men from the boys. Plus he’s accessible if you need complex answers. He also wrote the book Get Rich with Dividends. For crypto calculator tool, please check https://tools.dexfolio.org/crypto-calculator/

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