[NB: i) Church House's Argo stake is held by the Deep
Value Investments Fund, managed by Jeroen Bos — if you haven't read it already, I can highly
recommend his recent book «Deep
Value Investing», ii) XXX Capital Management is a well - known European hedge fund, which hasn't publicly disclosed a holding in Argo to date, hence the redaction — Argo management are obviously aware of their shareholding & support, and iii) the letter was based on a GBP 14p share price & a higher GBP / USD rate — at the current 13.875 p price and
exchange rate, Argo now trades at a 36 % discount to net cash and investments, and a 47 % discount to net tangible assets.]
It's an adorable glimpse into bitcoin's past, when the price skyrocketed to nearly $ 1000 (P.S: the
value hit $ 2900 recently) and Mt. Gox was still a highly
recommended exchange.