I must admit the prices don’t look good, but hey! The sun will shine on us again. Just look at the last 12 months.  

Bitcoin users grew to ~106M worldwide

2 countries have made Bitcoin legal tender (El Salvador & Central African Republic (CAR))

Major institutions like Blackrock, JPMorgan, Goldman Sachs & Fidelity are all promoting Bitcoin to their clients.

Several S&P500 companies incorporated Bitcoin into their corporate treasury strategy

Every country around the world is feeling the effects of financial censorship (example: Russia having its funds seized by the western banks) or inflation (everywhere). – Two biggest problems that crypto solves compared to traditional currencies.

Our Crypto Portfolio Update

Total investment down by -64%. Good heavens! How did that happen?

Portfolio by Weight:

 #ETH  35% #SOL   21% #BTC  18% #DOT   6 #VET 7% #ADA  6% #HLM 2% #OTHERS 5% (Mainly UNI; FTM; LINK). Plan to add some L2.

BITS AND BOBS

US 30-year mortgage interest rate tops 6% for first time since 2008

1/ Layer 2s are growing…fast!   “Layer 2s”. They make it cheaper and faster to do transactions on the Ethereum network. Right now, L2s (like Arbitrum & Optimism) make up 30-40% of all transactions on Ethereum.  ~$250m flows into L2s each month.

Crypto Outlook

The Fed projects hiking rates to 4.6% by end of 2023 “No painless way” to lower inflation (aka more economic pain incoming).