BTC is back above $61K and could push higher [Morning Watchlist] You are receiving this email because you are subscribed to Behind the Markets. If you no longer wish to receive these emails, please [unsubscribe]( here.  Prefer to view this content on our website? [Click here.]( --------------------------------------------------------------- Dear Fellow Investor, Bitcoin is coming back strong. After pulling back to less than $55,000 in early August, the digital currency is back to $61,583 and could push even higher near term. Helping, the Federal Reserve is getting set to cut interest rates at its September meeting. Plus, as noted by Forbes.com: âInstitutional investors have âbought the dipâ over the second quarter of the year, despite a decline in the bitcoin price of 12%, according to a report from asset manager Bitwise, with the company's chief investment officer, Matt Hougan, calling it a âgreat sign.ââ Going along for the ride have been mining stocks and a software stock that now owns 226,500 Bitcoin as of the end of June 2024. --------------------------------------------------------------- Company: MicroStrategy (SYM: MSTR) That software firm with 226,500 BTC is MicroStrategy (SYM: MSTR), which just exploded from a low of about $102.40 to $140.60. From here, it could run back to $170 near-term, especially if Bitcoin price push aggressively higher. Helping, Cantor Fitzgerald just initiated an overweight rating on the stock, noting that âdemand for Bitcoin will meaningfully accelerate from here.â --------------------------------------------------------------- Investors Alley [Act by Sept. 16th, to collect this 22% dividend]( [coin plant](Tim Plaehn here. This is my #1 Energy ETF for Monthly Payouts. For every $100 invested, you could collect up to $22 in dividends in the next 12 months. But you must act by Sept. 16th, to secure your first payment. [Go here to get my full briefing about this ETF.]( --------------------------------------------------------------- Company: Marathon Digital (SYM: MARA) Since bottoming out at around $15, MARA is now back up to $17.74. From here, weâd like to see it rally back to $22 near term. Helping, the company just said its July BTC production jumped 17% month over month to 692. MARA also just bought $100 million of BTC and how holds over 20,000 BTC on its balance sheet. --------------------------------------------------------------- Crypto 101 [How to Retire Comfortably with Crypto in 2024]( [bitcoin](
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Also, as noted by CEO Jason Les, âThe second quarter saw the Bitcoin network 'halving' in April of this year, a preprogrammed event whereby the Bitcoin block subsidy received by miners from the network is cut in half every four years. Despite this reduction in available production for all Bitcoin miners, Riot posted $70.0 million in revenue for the quarter and maintained strong gross margins in our core Bitcoin mining business. Riot also generated $13.9 million in power credits, inclusive of $4.4 million from participation in demand response programs, during the quarter, reducing our average energy cost and bringing our average direct cost to mine a Bitcoin to $25,327.â --------------------------------------------------------------- InvestorPlace [Jeff Bezos Next Trillion Dollar Bet]( [trillion dollar bet](While the world has been obsessed with AI and ChatGPT⦠Jeff Bezos has quietly gone all in on a technology that's going to prove to be FAR bigger. If you've never heard of "QaaS" technology you need to. [Click here now.]( --------------------------------------------------------------- [Join Daily Guru Trades!](
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