Replies to post #4606 on Riot Platforms Inc (RIOT)

[WhichWayToday]

Agreed !! This type of article does one thing. Scare out the weak and then short sellers in positions can then buy back in. These writings are like a legal form of manipulation. I'm surprised at what the SP has done too given Bitcoin is still at around $56K ! All the miners seem to have been hit though. I would have expect that if Bitcoin dropped suddenly to $50K. So if you still believe Bitcoin is going to $100K or more by the end of the year or higher afterwards, this is probably a good buy if you can wait it out but then again, it could run like before if Bitcoin pops over $65K in the short term. All my opinions. GLA

[Cosa]

It has nothing to do with adoption. Why would adoption increase its share price? It is based on it's current $2.6 billion market cap. Based on 1,175 bitcoins which the company holds https://www.coingecko.com/en/public-companies-bitcoin and assuming they mine 200 BTC more a month till the end of the year. 1175 + (7x200) = 2,575 BTC by end of year. 2,575 x $300,000 (your high estimate of BTC price) = $772,500,000. 772,500,000/84,100,000 (current outstanding shares) = $9.18 per share value. So at its current market cap of $2.6 billion, BTC will need to be $900k. They will also need to dilute shares to upkeep rigs and daily expenses without selling any BTC. It really comes down to the market cap. Good luck!