May 2023

Stock I'm watching this month:-

STX - Stacks

Sector: Crypto
Market Cap:  882 Mil 
Price/Earnings: N/A
Price/Book: N/A
Return On Equity: N/A
Return On Assets: N/A
Debt/Equity: N/A

Reasons to watch: Stacks is a Bitcoin layer 2 block chain. It enables smart contracts and other defi applications for Bitcoin. All transactions on stacks are automatically hashed and settles on Bitcoin L1. The stacks block chain is secured by Bitcoin. Bitcoin can be mined by locking up your STX coin. With the advent of ordinals and BRC-20 and people flooding back into using the Bitcoin block chain, I assume the demand for Bitcoin layer 2 will increase over time. As of recently, the transaction cost of Bitcoin has gone from an average of 1sat/VB to 50 sat/VB.


Risk: Stacks is considered 'controversial' since inception with the Block chain getting a push back from Bitcoin maxis. They consider it as a scam and a cash grab due to the release of a token. Bitcoin maxis prefer a layer 2 solution such as the Lightning Network which does not have its own token.

Sentiment: Buy
Disclosure: Held
Current Price: $0.6379
My Strike Price: $0.6379 


Disclaimer: This does not constitute any financial advice or stock recommendations. As always, Do Your Own Research.

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