The Bitcoin Fund Review (Buy, Sell, or Hold)

The Bitcoin Fund Review (Buy, Sell, or Hold)

Something exciting is happening ON TSX

Have you ever heard of the Bitcoin Fund?

The day it launched, the price appeared above $11.

The price jumps are still benefiting the investors.

So let’s explore further about BTC Fund, QBTC figures and the history.

Saqib Iqbal 133


What is a BTC Fund?

What is a BTC Fund?

Bitcoin Fund stock came into the scene in April 2020.

Yeah, I know the timing was terrible.

But it listed itself and has since gone through ups and downs.

So, here’s an overview of how we got the Bitcoin Fund.

Bitcoin Fund stock came into the scene in April 2020

The Bitcoin Fund was a project of 3iQ Corp.

3iQ Corp. completed a $48 million offering in the BTC Fund.

The stock got listed, and boom, it came into the scene.

The name is QBTC.

The initial offering price was $10.85.

Now, you are probably wondering, “Isn’t the name Bitcoin synonymous with crypto”?

Yeah, it is.

BTC is similar to the crypto world.

However, BTC Fund is a digital currency asset.

It measures the daily price fluctuation of USD concerningterribleC.

So, there’s a difference.

When it appeared, the BTC Fund had A and F units.

For those who are curious, A and F are units of partnership.

Here the general partner is the BTC Fund.

There’s some news on Class A units, so I’ll mention it later.

What’s 3iQ Corp anyway?

3iQ Corp, founded in 2012, develops financial products for crypto.

It acts as a fund and a portfolio manager.

It is the largest dam in Canada.

DAM stands for the digital asset manager.

3iQ was the first firm to provide Bitcoin investment for Canadian people.

Through the Bitcoin Fund and Ether Fund, 3iQ made life simpler.

It allowed investors to invest in BTC and ETH through investment funds.

In 2021, 3iQ launched BTC ETF and ETH ETF.

Both surfaced on TSX.

3iQ has certainly made investments in digital assets more accessible.

Ok, I am coming back to the Bitcoin Fund.

When 3iQ Corp. announced the Bitcoin Fund, it provided clear objectives.

The company said that they want to provide investment opportunities.

As we know how the price of BTC is skyrocketing, the BTC Fund is a reasonable option.

It allows you to gain from the moves of the stock.

So, you can invest for the long-term and make some cool bucks in the process.

No country for Bitcoin Fund

When the statement of BTC Fund first popped up, it mentioned words in bold.

These words were that BTC Fund is not for the US.

So, why does the USA limit the BTC Fund?

The reason is that the US SEC Commission didn’t allow it.

It has shut down several applications before.

And in 2021, SEC denied applications from Wilshire Phoenix.

Here’s a fun fact: Although the BTC Fund is trading on TSX, the USD denominates it.

Here’s another fact: Several US investors were involved in the Fund’s creation.

So, the QBTC isn’t for US investors.

Further reading

What’s the BTC Funds ATM program?

What’s the BTC Funds ATM program?

In July 2021, 3iQ Corp. announced its ATM equity program.

There’s much to talk about.

So, let’s explain this in detail.

3iQ released a press conference in July this year, mentioning the program.

The program allows the BTC Fund to publicize A units.

Accordion to the program, these have an approximate price of $20 million.

These units will allow the public to invest.

These units will allow the public to invest

These units have a set price, appearing at the usual price.

3iQ Corp. will perform the sale through exchanges of Canada.

The ATM program‘s volume and distribution depend on the manager’s decision.

So, when’s the program coming?

The ATM program is launching on December 5, 2022.

The funds 3iQ allocates will use for Bitcoin investment goals and strategies.

The good thing is sales of Class A units began on July 9 this year.

These sales began according to the terms of the agreement.

Ok, I will throw some legal jargon, so buckle up.

The sales of units will happen according to Canada’s National Instrument law.

The 44-102 defines at-the-market sales.

It also mentions how companies can make their sales on TSX.

And not just TSX, any exchange where Class A units occur.

When talking about sales, price movements are part and parcel.

As Class A units fluctuate according to market prices, their value can vary.

The ATM program is an addition to the QBTC shelf prospectus.

We saw the announcement in November 2020.

Further reading

What were QTBC figures?

What were QTBC figures?

The BTC Fund started in April, so much has happened since then.

I’m a bit of a data nerd, so I want to tell you data facts about QBTC stock.

Here’s a quick view of QBTC figures:

Bitcoin Fund has a market capitalization of $886.5 million.

The amount of volume QBTC is getting on the TSX is 1100.

QBTC has a current stock price of 80.15.

The number of QBTC shares traded so far is 13.82 million.

The earnings per share are 24.11.

Meanwhile, the P/E ratio is 2.63.

BTC Fund YTD (year-to-date) returns are 67.99.

Further reading

What’s the history of QTBC stock, and how will it perform?

What’s the history of QTBC stock, and how will it perform?

I’m glad you made it this far.

Let’s move to the juicy part and tell you if you want to hold, you should invest in QBTC.

To understand the future, it’s important to understand history.

So, let’s roll our clock backward and see the past.

To understand better, here’s a detailed chart:

QBTC price change

As I mentioned earlier, when QBTC appeared on TSX, its price was 11.11.

On the first day, its price hit a low at 10.85 and a high at 11.51.

The next day, the stock went way up, reaching 14.24.

That’s a massive increase from the previous day.

The stock’s first blow came on April 21 and then on June 19.

August 17 was the most adventurous day for QBTC.

Its prices went up to 18.65.

Afterward, the stock plummeted.

Here’s another chart:

QBTC hit an all-time high

Fast forward to January 8, 2021, and QBTC hit an all-time high of 71.95.

That was a high increase.

I mean, the stock hadn’t completed one full year, and it gained so much in value.

The next high came on April 14, with the price touching 89.50.

You can see that the price dropped significantly afterward and touched a low of 43.

Fast-forward to October 21, and we have a price level close to April 14.

And now the stock is trading at 80.15.

Potential to move upwards

I wanted to show you these price levels because it’s helpful for future price predictions.

In less than two years, QBTC went from 11.10 to 80.15.

So, I’m saying that it has a solid following potential to move upwards.

How am I saying this?

It’s because moving averages suggest an upward trend.

MAs are one of the critical indicators for finding the direction of the stock.

The long-term MA suggests the long-term trend of a stock.

If the price is below MA, it’s a negative trend.

On the flip side, it’s a bullish sign if the price is above MA.

So, when you apply for a 52-week MA, you see that the price is still above the MA.

Here you can see the price is way above the moving average.

Price is way above the moving average

So, what is it for QBTC; buy, sell, or hold?

There are three ways to answer this question, each explaining every scenario.

If you want to buy, you should wait for a dip.

If you want to sell, wait for further upward movement.

If you want to hold, it presents an excellent opportunity for the long term.

No one is sure about the market movements.

So, you need to adjust and tweak your strategy according to market conditions.

QBTC will go up.

But it’ll throw a few dips before reaching its highest levels.

Further reading

Your questions about QBTC

Your questions about QBTC

Now you know what QBTC is all about.

Probably you have some questions regarding QBTC.

So, I’ll answer it.

What is the ticker symbol for Bitcoin Funds?

The ticker symbol for Bitcoin Funds is QBTC.

Should I invest in QBTC?

QBTC is a long-term investment.

If you are looking for quick profits, that will not happen.

Is QBTC trending?

Its massive increase since its launch suggests QBTC is a trending stock.

Should I buy QBTC?

Yes, QBTC is a good buy stock.

Bottom line

If you woke up today looking for a stock to invest in, then it’s your lucky day.

QBTC provides a great long-term investment opportunity.

Remember that markets according to you and me.

So, properly analyze everything before jumping in.

Further reading