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