Sep. 18 at 2:56 PM
$BTGO It’s actually crazy when you look at the timing.
Their last quarter ended June 30, right around the exact bottom for
$BTC.X at ~
$58,630. That helps explain why they reported losses for the quarter, largely due to unrealized losses on their Bitcoin treasury.
Fast-forward to today: they hold 3,854 BTC, up from 2,449 BTC. https://perception.to/bitcoin-treasuries/bitgo-holdings
At a Bitcoin price of ~
$80,900, that represents roughly
$86M in unrealized gains. And also, they are profitable on their business model!
Look at that QoQ or YoY change — the numbers are insane.
And that’s not even accounting for the operating business. At higher crypto prices, BitGo benefits from increased asset values under custody, along with potentially higher custody and trading fees.
The next ER could look very different. 🚀
I just hope retailers read this message, and buy & hold, and not only institutions benefit from this stock that will eventually hit ATH of
$24.50 next year, and why not
$50 by 2028.
