Crypto: Random thoughts

SI, Silvergate capital, down 35.5% on after hours after it announced it is winding down the bank. From its peak $239, it is a mighty fall to $3.22. It is not just the SI, but many crypto firms are facing existential issues and some have gone bankrupt. Those who were “warning” against crypto can take a victory lap. Now, this is nothing new, the markets have seen boom and bust on many industries, and crypto is the latest one.

If you are someone who believes in spreading your bets across various asset class, then you may want to pick up some shares of whoever survives. There may be a next Amazon, a la buying AMZN at $0.30 Oct 2001.

PS: If you manage to buy it, don’t get scared and sell it, just hold on to it :slight_smile:

2 Likes

SI popped up on my options scanner the last two days with a very high call that expires Friday I think it was strike $5. I avoided it because when the call is too high something bad is about to happen and now the price crashes the day before expiration. Now might be a better time to buy the stock however…doc

I still had it on my scanner: