It’s monthly update time for our 50x Portfolio. What a difference a month makes right? The Bitcoin and Ethereum gains are pushing the whole market higher.
We have a special announcement today. We are adding a new coin to the portfolio. So how did we do? And what great project are we adding? Well come with me and find out.
Total Return
In our last update, we had 6 out of 9 holdings (with stablecoins being the 10th) in the red. We were losing money. But if you remember, we were beating our benchmarks of Bitcoin and Ethereum.
Well now, it’s like once we turned the calendar to 2023 and got finished the holidays, the crypto market decided that it’s seen enough nonsense. Sentiment is better. From our purchases in late September to now:
- Bitcoin -17% to +14%
- Ethereum -12% to +18%
And for us? How did we do? Better and Worse. How? We are definitely doing way better now. We went from down 11% to up 12.5%. A monster comeback.
Here’s where the worse part comes in. Last time we were doing better than our benchmarks of BTC and ETH. Now, BTC and ETH are beating us. Not by a lot but they are winning. We are going to break down how this happened and our newest buy in just a second.
Are your longer term holds recovering in this market too? What have you been holding patiently all this time? Let us know in the comments below. And whatever you’ve been holding, congratulate yourself as you made it through a very tough market. Your patience will pay off soon.
Individual Holdings
Now let’s look at how the holdings did one by one. We have more profitable positions than we had last month so let’s take a look.
1) The Losers
We had 4 in the loss column this month. Of them, the biggest down by % is Kujira down 55% to 53c. It’s also our biggest $$ loss at $167. Yet not only are we still high on Kujira, but no fundamentals have changed except for some improvements. The only difference is price. So we are holders of this excellent DeFi protocol on Cosmos.
Our next biggest loser at 11.25% is Fuse, one of our small caps. In fact, both of these are small caps. Also, nothing new here to report that’s bad.
And that goes for our other 2 negative positions Polkadot and The Graph, both of whom made big comebacks to get close to break even this month. They are down 4% and 5% respectively from where we bought in late September. They are holding up well in tough market conditions.
2) The Winners
Now on the upside, we start with one of our favorites, Polygon. They are crushing up 45%. It’s no secret why. It seems like every Web2 company wanting to get into crypto is partnering with Polygon. And for many of us at Altcoin Buzz, Polygon is what we use instead of ETH. It just rocks.
While Polygon is up the most in $$, the one up most in % at 83% is our favorite small cap gem Lukso. They just seem to be doing everything right at the moment. And thanks to our phenomenal Research Team, we were on to this gem early. You can find gems like these in our Access group.
Then up ~15% are both Bitcoin and BNB, with BNB holding steady more or less and Bitcoin making a big move from negative to positive in the last 4 weeks for us. We hold to our belief that we have 50x growth potential while maintaining a lower risk than the broader market with these positions.
Source: CoinMarketCap
It’s a little disappointing to trail our benchmarks but they are concentrated in 1 holding while we have 10 to spread our risk. This is how solid portfolio management works. What portfolio management techniques do you use? Do you use stop losses? Let us know what you do in the comments below.
New Addition
No one knows what the future holds but we think the worst of this bear market is over. So we are ready to deploy new money. We have 10% or $1000 of our portfolio in stablecoins. We are super excited to announce that we are hitting one of our favorite trends for 2023. Interoperability. And what are we buying? Is there a glimmer of hope that you can guess?
Yes we are buying Moonbeam (GLMR). They have the most advanced ecosystem for cross-chain smart contracts in crypto. And all on DOT meaning interoperability will be a priority for them too. The smart contracts already work on DOT and Ethereum’s EVM. Moonbeam isn’t the only DOT project in this space but they are the biggest and furtherest along in development.
So we are going to take half of our stablecoins or $500 and buy GLMR with it and add it to our portfolio. We are buying at today’s price (when I wrote thigs) of 43c. So that means we are buying 11622 GLMR.
Now I know AND you know that it is never good to fall in love with any of your investments. But we are excited to get GLMR at this price. We believe that if you think the future is multi-chain, then you want to bet on projects like Moonbeam. And that’s our big news. The portfolio is doing well and now we have one of our top cross-chain smart contract picks Moonbeam in the mix too.
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