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3rd April 2022 > > Riot Blockchain Inc.

tl;dr

We all need to listen to resident techie Larry a bit more.


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Curious Cryptos’ Commentary – Riot Blockchain Inc.

NONE of the following commentary can be taken as investment advice.


This commentary is purely for educational and entertainment purposes.


Back in the far, far midst of time – all the way back on 19th October 2020 - the CCC commented on an investment originally made in March 2018.


This investment was in the common shares of Riot Blockchain, Inc.


Focussed on BTC mining and based in the US, I was happily convinced that if one was a crypto believer – and that is certainly a description that applies to me – that an investment in such a miner might possibly give outsized returns relative to BTC.


On 19th October 2020 the price of BTC was $11,500 and RIOT was $3.11. At last night’s close BTC was $46,500 and RIOT was $20.73.


Please check my calculations, but I believe this means that returns to date are 304% for BTC and 567% for RIOT.


The winner of that race is clear to all.


The interesting thing is that before last night’s close, RIOT announced a stock sale of 20% or so of outstanding capital.


Such an announcement would traditionally lead to a share price selloff. That has not happened.


You can be sure I will be taking up all my share rights and more if I can in this stock offer.


It is clear to me that appropriately timed investments in RIOT can outperform the same investment in BTC.


But I want to share a twist with you.


On 16th February 2021 our resident techie Larry made some very sceptical comments about RIOT.

For context, at the time, RIOT share price was $58.75 and BTC was at $49,000.


This meant the return from RIOT was an extraordinary 1,789% and that from BTC a mere 329% compared to 19th October 2020.


Larry was so right on that day. Mate, I need to listen to you more.

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