1st Buy Alert on MGTI @ $1.35 on 8/8/17
2nd Buy Alert on MGTI @ $1.86 on 8/14/17
3rd Buy Alert on MGTI @ $2.10 on 8/17/17
4th Buy Alert on MGTI @ $2.43 on 8/23/17
Now up more than +87% since our first buy alert, here's why $MGTI is slated to continue it's uptrend. We're targeting a retest of the highs near & above the $5 level from here. Just remember, the higher Bitcoin goes, the higher $MGTI has to go. This is perhaps the most efficient proxy investment to capture Bitcoins expected price appreciation. How far can Bitcoin really go, don't doubt that $10,000 or even 20,000 by next year is not out of the real of possibility. It's price behavior is indicative
--Daily view on $MGTI thus far since our buy alerts --
Here's further evidence why $MGTI will very likely go much higher from here.
It took less than 24 hours for President Trump to dampen political harmony in Washington. Tuesday’s hope for positive outcomes on tax reform and the debt ceiling were quickly dashed as the president threatened to shut down the government unless funding for the border wall is included as part of the deal. Using the debt ceiling as a tool of negotiation on something as unpopular as the border wall is highly provocative. Now the full faith and credit of the United States is on the line. This is a critical commitment. If people lose faith in U.S. debt, investors will pull out of securities markets, pushing yields up on those investments. If the Federal Reserve stops buying bonds at the same time, which is rumored to happen in September, it could cause a severe spike in volatility with few alternatives for safety. As former Fed Chairman Alan Greenspan recently predicted, a bursting of the bond bubble would also impact stocks as investors sell both.
In response to Trump’s latest threat, bitcoin has once again emerged as a decentralized safe haven. Bitcoin rose $175 overnight in response to increased risk. This is proving to be a more reliable hedge than S&P 500 puts or gold. Bitcoin proxy MGTI is +10% on the day which triggered another 5% portfolio purchase at the momentum point of $2.40. MGT announced this morning that it secured $2.4 million in funding from UAHC Ventures to further develop bitcoin mining operations. The CEO of UAHC gave a vote of confidence to McAfee’s group: ‘Today we see bitcoin and related mining activities as a promising and fast-growing segment of the digital currency sector. Accordingly, we’ve identified MGT Capital as a leader in bitcoin mining that is uniquely positioned to capture market value as it expands its mining operations.’ New members can review our coverage on why we've taken a heavy interest on MGTI in the associated posts that are tagged below.
Stephen Schaeffer, President of MGT Crypto-Capital Strategies, states, ‘Today’s announcement is further evidence of our commitment to being the leading miner in North America. We are currently constructing our third location in Washington State, and plan to deploy new mining rigs in this facility in early October 2017.’
If there is a United States government shutdown this October, bitcoin is poised to soar on the uncertainty. If events like this continue to unfold, MGTI can become a long term holding in the portfolio.