NIA
Bitcoin just hit $9,300 and NIA is 1,000% sure that US Global Investors (GROW) is about to become the #1 biggest Cryptocurrency play in the entire market! On Friday morning at 10:35AMEST, NIA announced US Global Investors (GROW) at $3.86 per share as its new #1 Cryptocurrency stock suggestion. GROW was already up 25% at the time of NIA's suggestion, but NIA said not to worry and predicted that GROW would finish the day above $5 per share and reach $6-$10 per share next week.
After NIA's alert, GROW exploded $1.05 or 27.2% to an official 1PMEST closing price of $4.91 per share. If the market had been open for a full trading day, GROW would've closed above $5 per share just like NIA predicted. In afterhours trading, GROW gained an additional $0.37 per share with a final trade at 4:59PMEST of $5.28 per share!
Three full decades before the creation of VanEck Vectors Gold Miners ETF (GDX), GROW created the world's first gold/silver mining mutual fund: US Global Gold and Precious Metals Fund (USERX). After launching in 1976 with only $4.8 million under management, USERX over the following 11 years saw its assets increase by 9,992.5% to a high in 1987 of $484.44 million.
By then, GROW had launched a second gold/silver mining mutual fund: US Global World Precious Minerals Fund (UNWPX). After launching at the end of 1985 with only $10.8 million under management, UNWPX saw its assets explode by 10,900% over the following 23 years to a 2008 peak of $1.188 billion.
In April 2015, GROW launched its first ETF: U.S. Global Jets ETF (JETS) with $4.853 million under management. Over the last 31 months, JETS has seen its assets increase by 2,105.2% to $107.02 million.
On June 28, 2017, GROW launched its second ETF: U.S. Global GO GOLD and Precious Metal Miners ETF (GOAU) with $2.413 million under management. Over the last 5 months, GOAU has seen its assets increase by 341.4% to $10.65 million.
For the last several years, the CEO of GROW Frank Holmes has been very bullish on Cryptocurrencies. His #1 goal for GROW has been to create a Bitcoin ETF, but the SEC said that it wouldn't approve any Bitcoin ETFs unless Bitcoin first has a futures contract.
In search of an alternative way to give GROW shareholders exposure to Cryptocurrencies, GROW invested into the IPO of Hive Blockchain (TSXV: HIVE) at $0.30 per share and Frank Holmes became non-executive Chairman of HIVE. GROW's 100% owned subsidiary purchased 10 million shares of HIVE while its 30% owned subsidiary purchased 7 million shares of HIVE, giving GROW exposure to 17 million HIVE shares and net ownership of 12.1 million HIVE shares. HIVE closed last week at CAD$2.83 per share valuing GROW's net stake in HIVE at CAD$34.243 million or USD$26.944 million.
GROW also has $2.973 million in cash and $1 million in restricted cash. All together, the value of GROW's net stake in HIVE plus GROW's cash and restricted cash adds up to $30.917 million. GROW has only 15.167 million shares outstanding for a market cap at $4.91 per share of $74.47 million. If we subtract the value of GROW's net stake in HIVE and cash+restricted cash from its market cap, GROW's actual business is being valued at a very low $43.55 million.
In December, Bitcoin will begin trading on the CME futures exchange, which NIA believes will open the door for GROW to launch a Bitcoin ETF. After Bitcoin futures begin trading, look for GROW to officially announce plans to launch a Bitcoin ETF. If NIA is correct, NIA believes that GROW's main business will deserve a minimum valuation of $200 million, which added to GROW's HIVE stake+cash would give GROW a market cap of $230.917 million and divided by 15.167 million shares outstanding would value GROW at $15.22 per share.
GROW surpassed a major long-term key breakout point on Friday of $4.40 per share and it did so on enormous volume of nearly 6.3 million shares! Click here to see for yourself!
To see how big GROW's upside potential is, take a look at its 21-year chart. GROW's breakout that occurred on Friday looks nearly identical to the breakout that GROW made 12 years earlier in November 2005 due to soaring investor demand for gold/silver mining mutual funds/ETFs. GROW exploded from $3.50 per share on November 1, 2005 to a record high on December 29, 2006 of $36.35 per share for a gain of 938.6% in 14 months! At GROW's record high, its market cap exceeded $550 million!
Just like how investors demanded gold/silver mining mutual funds/ETFs in late-2005, they are demanding Bitcoin ETFs today. GROW could be ready to make a run similar to the 938.6% gain it made between November 1, 2005 and December 29, 2006!
