What a week. The portfolio is down 1% while both the S&P500 and Nasdaq are up 2.3% and 2.9%, respectively. The biggest drop came from BTC, which I think lost some momentum given the ATH that was reached a couple weeks ago.
I'm still optimistic that the halving will bring BTC back above $70k.
Apologies for the delay this week. I passed out after work and completely slept in this morning. Dead tired after a long day and rough night. I slightly tweaked the output so now there's a week-over-week column to better capture the volatility.
Tough week in the stock market. Inflation edges slightly higher than anticipated, likely putting pressure to delay the rate cuts. My guess is Powell won't cut rates in June. Bitcoin seems to hold its gains despite some profit taking this week. I think the upcoming halving is attracting net inflows to the Bitcoin ETFs.
Tesla down this week probably because of the strong Rivian R2 and R3 reception (read more). FBTC up because of interest in Bitcoin ETF, not so much for direct crypto trading based on lack of crypto apps downloaded (more here). exciting times the world of Bitcoin with the upcoming halving next month (count down here).
What a week! Bitcoin was up significantly due to interest in next month's halving. TSLA showed strong gains as well while MSFT came in 3rd this week. Seems there's very strong momentum in AI and in crypto -- wonder if this is a sign of frothiness and how long will this exuberance continue for?
What a week with Nvidia earnings blast off! It (briefly) became the third company to reach $2T in market cap and settled just a hair under on Friday. Can't wait to see what next week brings.
Happy Valentine's Day! Today, my blog gets a fresh start. With Bitcoin ETFs finally becoming a reality [1], I'm pivoting my investment focus. From now on, it's all about Bitcoin (no shady altcoins!) and how AI is changing the game for big tech companies.
So, I made a move... I sold my Bank of America shares (taking a bit of a hit, ouch!) and now have $60,000 burning a hole in my pocket. I've split that money equally between three stocks. I'll spill the beans each Friday with weekly updates and share my quarterly profit (or loss!). Here's why I'm excited for the next 10 years, and I hope you are too:
Let's see where this goes!
Notes:
[1] https://www.nytimes.com/2024/01/11/business/dealbook/bitcoin-etf-wall-street-crypto-investing.html
With the arrival of BTC ETFs, I've decided to switch the blog into something different but still relevant to crypto.
Stay tuned for more! News to come in mid-Feb.
Wow, so this popped (free WSJ article) into my newsfeed today.
It's basically a URL with emojis, and people are paying thousands (and in some cases hundreds of thousands) of dollars to own one.
Even Michael Arrington, founder of Techcrunch, spent some serious money.
Investor Michael Arrington, who also has a stake in Yat Labs, says he recently spent $200,000 of his asset-management firm’s money on Rocket-Moon. Taking a rocket to the moon is a common refrain in the cryptocurrency world, and Mr. Arrington wanted to use the Yat as a branding tool for his Seattle-based firm, Arrington XRP Capital. Because users can’t buy one- or two-character combinations directly on the site, the only way he could purchase Rocket-Moon was by participating in a virtual auction hosted by Yat Labs.
If this Reddit post is true, this is a huge concern. CDC is a huge CEX and this would cause some softness to confidence.. but so far not seeing this affect crypto prices.
From Crypto.com's Twitter:
We have a small number of users reporting suspicious activity on their accounts.
— Crypto.com (@cryptocom) January 17, 2022
We will be pausing withdrawals shortly, as our team is investigating. All funds are safe.