Betting $1M on BLOCK ($SQ) as a bitcoin mining play
Posted: Jan 17, 2025
- Jack Dorsey is involved in bitcoin mining through his company Block
- Block has approximately 8,211 BTC valued at $862M
- TRUMP has shown support for crypto and plans to designate cryptocurrency as a National Priority
- Graph shows revenue growth vs share price for BLOCK
- Technical analysis indicates a breakout from a 2 year base should be explosive
- Potential for BLOCK stock to increase to $100+ as it catches up to other companies in the bitcoin space
What do people on Reddit think?
🚨 Reddit sentiment: mixed/negative - While the author and some commenters are positive on the potential gains, there is notable skepticism about the stability of crypto mining investments and the short timeline, leading to a mixed/negative sentiment. Summarized comments: - Author is betting $1M on $SQ based on Bitcoin mining and bullish factors - Author purchased 5000 $100 call contracts at $2 each, expiring 2/21, and is currently up $200,000 - Catalysts mentioned include Bitcoin mining play, strong revenue growth, Trump's pro-crypto stance, and Jack Dorsey's Bitcoin enthusiasm - Some skepticism on the investment due to the risk of crypto mining companies and short expiration timeframe for the calls - A comment mentions recent ticker change from $SQ to $XYZ - Commenters are mixed with some expressing excitement and others caution Stock tickers discussed: $SQ
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