Strange investments, hopeful spending, and two more days

 ---"BTBT is a digital currency stock that has become popular among some individual investors.  Named Bit Digital Inc., formerly Golden Bull Ltd., it is a bitcoin mining company that is focused on bitcoin mining facilities in Wuhai, Zhundong, Xilinot, and Sichuan, China.  It is also engaged in the car rental business.  It intends to rent cars to both individual and corporate customers.  Customers can confirm the time and place for vehicle delivery through text, phone calls, or face to face in person."

That's the description of the company that has no institutional investors but has a market valuation of approximately $800 million.  Yes, I bought it at year end and quickly sold it at just below breakeven. It is still trading slightly below that level today.  "Intends" to be in the car rental business?  Apparently there is no actual business yet.  It seems to be just a company that managed to buy bitcoin in four locations, one that has food that is popular worldwide.  With the proceeds from their U.S. listing they will be able to buy many very nice cars.  Partially sold here were other bitcoin stocks mentioned here in a prior blog.  Good trade then but now proceed with caution!

---Infrastructure spending is once again part of a new President's agenda. With Trump it was primarily a Mexican border wall that was already underway.  This type of spending is a lengthy procedure that Congress always has trouble approving, as the money goes out long before the results are seen.  A relatively united country approved the Interstate highway bill in the early 1950's.  Each project requires right of way approval from states and cities associated with the all important transportation system.  Is that still possible now?  Tax increases required, possibly at all levels?  The well paying jobs created would be worth every penny, but does the American public have the foresight to realize this?  And the answer is...

---Two more days until a new President is sworn in.  Let's just hope that the paintings, silverware, and furniture in the White House are all still there for the Biden's.