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Argo Blockchain PLC listed on the London Stock Exchange

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It is clear that Argo's share price is clearly linked to that of Bitcoin's price. 

It has released the following RNS this morning at the start of 2020. 

Argo Blockchain PLC

Board Appointment and New Hardware

https://www.investegate.co.uk/argo-blockchain-plc--arb-/rns/board-appointment-and-new-hardware/202001020700134697Y/

If Bitcoin's price declines then I see Argo's price declining too. It will take a revival of Bitcoin's price to the upside to give Argo's share price any chance of moving upwards. 

For me this company is a pure play on Bitcoin. If Bitcoin fails then Argo fails. 

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I just noticed Argo's new website which is far better than the previous one. 

https://argoblockchain.com/

Also have a look at the 'Significant Shareholders' in the 'Investors' section (top of the screen) which show some heavyweights like:

  • Miton Asset Management
  • Janus Henderson Investors
  • Jupiter Asset Management

https://argoblockchain.com/investor-relations/significant-shareholders/

I think Argo will follow the path of Bitcoin in terms of price action. If Bitcoin continues going up then I think so too will Argo and if Bitcoin begins another move downwards then I am afraid so too will Argo. These two are very closely linked as you can see from the chart. 

Also Argo is a great way to play Bitcoin without acquiring Bitcoin physically or trading it via derivatives, spread betting or CFD's. 

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Its never a good sign when the likes of Mike Edwards decide to leave when apparently the company is on the cusp of greatness! Hmmmmm. Something smells here to me. 

Argo Blockchain PLC

Board Appointment and New Machine Installs

https://www.investegate.co.uk/argo-blockchain-plc--arb-/rns/board-appointment-and-new-machine-installs/202001270700099334A/

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