The Bitcoin miners are down: is it time to buy?

Bitcoin miners report, September 2023

In real estate you'll ear that money is made when you buy not when you sell. That's a valid point when it comes to invest in the Bitcoin miners stocks too. 

If you want to maximize your return and minimize your risk buying during a bear market is the way to go.

But is it a good time right now?

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The Bitcoin miners are down: is it time to buy?

The Bitcoin miners stocks are tracking BTC pretty closely, with small market caps and a big pool of institutional buyers wanting exposure to Bitcoin. That makes them good asymmetric bets for when Bitcoin is on the rise. This is the investment thesis we track every month in the Bitcoin miners report.

The takeaway

The Bitcoin miners aren't performing well in the current environment. But that's expected.

You can't have them being at the same time highly correlated to Bitcoin and moving up while the underlying asset doesn't.

That being said there are reasons to be bullish over the long term. 

• The big picture has not changed.

• The insiders at many of those companies are buying their own stocks. 

• There is no Bitcoin ETF on the horizon.

• And depressed prices make for great buying opportunities.

The larger the decline, the bigger the recovery in percentage when it finally comes. That’s what we mean when we say that money is made when you buy, not when you sell. And that’s especially true during a bear market. 

So let’s talk about that.

Is it time to buy?