Why I’m Still Buying BTBT

Even after gaining 685% in 2023, I’m still buying Bit Digital stock. Here’s a look at why I’m continuing to build a position in BTBT and what 2024 could hold in store for bitcoin.

Six months ago, I wrote a post entitled “Why I’m Buying BTBT.” Bit Digital is a publicly traded bitcoin mining and digital asset company. They’re traded in US markets on the Nasdaq under ticker BTBT.

In early March 2023, I started building a position in Bit Digital with initial buys around $0.98. At the same time, I started building a similar position in Iris Energy, ticker IREN, and have continued to track both companies along with the bitcoin mining industry more broadly.

As 2023 wraps and I look ahead to 2024, I’m still adding to my Bit Digital position in particular. The company has continued to impress when it comes to quarterly financials and is expanding operations beyond bitcoin and ethereum into artificial intelligence.

On top of that, bitcoin specifically is on the verge of greater institutional adoption. I’ve been in bitcoin since 2013 but have consistently sustained a weekly dollar-cost-averaging strategy into self-custody bitcoin for the last several years. I currently have no intention of diverting from that…