Silvergate Capital Corp SI - Share Chat

This company is a leading bank for innovative businesses in fintech and cryptocurrency. It’s based in San Diego.

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Anyone interested in this company? I feel it’s a bit expensive now with a PE of about 70, compared to other banks that have a PE of around 15-20.

It’s also 5 x’d in the last 3 months. I’m looking at it as a long term investment on the premise that it will grow it’s banking business as the number of businesses in the crypto sphere grows.

It seems to have been the leader in providing banking to crypto-related businesses, i.e. Exchanges.

They also give loans against crypto assets. I’m not sure how valuable they will be, long term.

Looking to buy in around £90/£95

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Invested at $93 - another yo-yo position.
It was nice to see $170+, if only for a moment :upside_down_face:
10 years to go, so we’ll see.

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Is that your investment horizon?

I’m looking at this very long term as well. Just think how much the crypto space will develop and this company is very well positioned as a business interface between crypto and fiat, and providing the traditional banking infrastructure. Selling shovels in the gold rush, I call it!

Bought at $67, up 100% currently.


Oh dear…

“Wedbush analyst David Chaverini recently issued a research note that said he is taking Silvergate Capital off of Wedbush’s best ideas list. Chaverini cited the fact that there is close to 100% probability that that U.S. will adopt a central bank digital currency, which could reduce the market for Meta Platforms’ U.S. dollar-backed stablecoin Diem, of which Silvergate is the exclusive issuer.”

From here.

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I’ll hold if you hold :grin:

It’s a super volatile stock, not too concerned about a 7% drop.

I’m not sure how much business Meta’s coin would be. I invested based on SI providing infrastructure to crypto companies and exchanges, which Meta is likely only a part of.

I’m Stone Hold Steve Austin, mate :smile:. I basically never sell anything.

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Can’t believe this stock doesn’t get more attention.
Iv got 95% of my capital in this company and plan on adding everything I can spare in to it for the next 5 years :+1:

I can’t tell if this is meant to be ironic or not?

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The banking system as it stands is worth $124 trillion just 1% of that would be worth a fortune

I’m down 72% here.
The maths for a crawl-back to break-even aren’t gorgeous to contemplate.
I blame the parents.

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A further 55% down today.
Oh well…
It wasn’t fun while it lasted.

Learned my lesson about being greedy…should have sold when the numbers were good…held on too long and now left to chase shadows :rofl:

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