Betting $1M on BLOCK ($SQ) as a bitcoin mining play
Jack Dorsey (dad) is the second biggest bitcoin dick rider after Saylor. The problem with Jack is that he's a low key CEO that doesn't like to be in the public eye and therefore sucks at pumping his own stock. This is where we come in. Time to shed some light on how undervalued BLOCK is.
First, Block is becoming a player in the bitcoin mining space. They are developing their own chip/rig with Proto. Proto is a suite of bitcoin mining products and services designed to help decentralize the global supply of mining hardware and the distribution of hashrate. Proto works to increase builder access to bitcoin mining chips and rigs while increasing network resiliency and making everyday use of bitcoin secure and simple.
Block also has ~8,211 BTC valued at ~$862M.
TRUMP loves crypto and has recently stated he plans to designate Cryptocurrency as a National Priority. He will enact pro-crypto executive orders on day 1 (that's why BTC is mooning right now). He also stated he wants all bitcoin mining to be done in America.
Second, here is a graph of BLOCK's revenue growth vs share price (self-explanatory).
Third, from a TA perspective, the recent price action has been constructive (below) and the breakout from the 2 year base should be explosive.
Not sure how this hasn't caught on as a bitcoin play when all these other shitco's that do bitcoin mining or just have BTC on their balance sheet have absolutely rocketed in the past 4 months. When the hype catches up, we should see some explosive moves up to $100+.
