Category: Crypto

My Crypto Bets

A very happy Diwali 2021 to each one of you and I hope you and your dear ones have a fantatsic year ahead.

Before we begin please understand that Crypto is a very new,volatile and speculative asset class, it is not uncommon for prices of some tokens to rise 1000% and then drop 99% in matter of days and minutes

Picture source – Twitter @tanayj

Two more things

  1. All together these Crypto bets are less than 2% of my family’s networth so even if all of them of go to zero it will not create financial ruin for me
  2. I am constantly evaluating new projects and crypto moves at 10x speed compared to equity markets so many bets would be dropped off and many others would be added as my knowledge of the ecosystem improves

Now onto bets

Ethereum (ETH)

By the far the biggest network in crypto space the adoption has seen insane, Ethereum is a supercomputer. Ethereum uses blockchain technology to decentralize every piece of technology or app that we currently use. The much needed move to POS (proof of stake) upgrade is coming to network next year and to me it remains a top project to track… Read the rest

Think Independent

I am amazed by the divide crypto projects have created among the billionaires. In a recently concluded conclave, Rakesh Jhunjhunwala said cryptocurrencies have no future

I have a thing for authority bias and if someone who is very smart and whom I respect takes a stance generally that would be a great starting position for me, if you are like me then I think this is something that you should fix.

Why?

First, let’s understand that as investors we have three edges

  • Information edge – Your ability to get valuable information legally gives you an advantageous position on an investment
  • Time edge – Your ability to invest long term and behave like an owner
  • Analytical edge – Your ability to interpret the same information differently from others will give an insight which most would miss, Howard Mark, call its second-order thinking

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What’s the value of Bitcoin

Bitcoin recently hit a market cap of 1 trillion USD – Yes with a “T” a single coin was worth more than USD 57,000 as recently as 21-Feb-21

I have been a firm critic of Bitcoin using largely below rationale

 

 

but is there something that I am missing?

Most of the stuff on internet/twitter is very price driven, the day price appreciates the more noise is made that day without any meaningful analysis on this phenomenon.

After some digging came across a really useful piece that analyses the crypto landscape with data and objectively

CFA Institute has put a very detailed report on Crypto Assets for Investment Professionals while the whole report is fantastic, I will share some of my key learnings from the report. You can access the full report here

  1. Whether we like it or not – Crypto is here to stay 

As the cryptomarket enters its second decade, one thing is clear: Crypto and blockchains are not going away. 2 major financial institutions, such as Fidelity Investments and CME Group, are heavily involved; large endowments, such as those of Harvard University, Yale University, and Stanford University, are investing, alongside such hedge fund legends as Paul … Read the rest