NUGGETS OF ALPHA
Bitcoin total returns from 2023-2014 have been in the top 3 for the last 10 years
BTC transaction fees have been skyrocketing since the beginning of November
Bitcoin miners are making $59M per day—higher than BTC’s all-time high
The Bitcoin market cap is 45x the total public BTC miner market cap
Historically, Bitcoin miners have grown six times faster than Bitcoin
The Bitcoin miners have moved to HODL mode and are no longer selling
The top four from this month’s analysis are CLSK, RIOT, BITF, and CIFR
CIFR has the most upside potential of the miners
In this paper, I will supply a state of the union across the Bitcoin ecosystem. Then, I will go through our usual 8,000 different data points, 26 ratios, and the composite to identify our winner.
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