Gyroscopic Investing

Kriegsspiel wrote: ↑Fri Oct 29, 2021 7:36 pm I bought some crypto at the end of August with some VP play money (up 24%). If I can Matthew Effect this motherfucker, then great. But even if it goes bust, it's a pretty interesting phenomenon to get into.

I have a fractional amount of Bitcoin held directly, and a piece of ETHE (Ethereum fund ticker). The ETHe is equal to 1% of my (vp + pp). It was 0.5% when I bought it, but it doubled (and then went back to breakeven and then doubled).

How about you all?

Just gbtc as one of my inflation hedges…whether Bitcoin is a hedge or not remains to be seen

Bitcoin only right now. I'm looking into Ethereum, too, which is more complex.

15% of my portfolio is directed towards bitcoin. Since most of my holdings are in retirement accounts, I have to compromise w/ miners/ETFs there instead of holding it directly.

I started out w/ 1% of total portfolio in these:
- MSTR
- GBTC
- MARA
- HUT
- BITF
- SDIG
- RIOT

They count towards Bitcoin allocation, not stock allocation.

Wow! That’s alotta coins.

dualstow wrote: ↑Mon Nov 08, 2021 3:47 pm Wow! That’s alotta coins.

Those are stocks, except GBTC.

bitcoininthevp wrote: ↑Tue Nov 16, 2021 11:29 am

dualstow wrote: ↑Mon Nov 08, 2021 3:47 pm Wow! That’s alotta coins.

Those are stocks, except GBTC.

Sorry, I meant to say “alotta coin”, in the mass/uncountable noun sense.
Yes, he specified ETFs. I have since been slowly working my way through the profile for each ticker.

Sold 66% of HUT, and 50% of BITF and MARA and bought paper gold to keep things in range.

Could be informative:

Valuation of Bitcoin Mining w/ Mike Alfred (BTC043)

"Preston Pysh talks with entrepreneur and Bitcoin expert, Mike Alfred, about the valuation process for publicly traded mining companies."

https://www.youtube.com/watch?v=WKAmLFK ... astNetwork

Another sign?

https://www.espn.com/nba/story/_/id/326 ... ights-deal

Staples Center to become Crypto.com Arena in reported $700 million naming rights deal

Okay can we get back to personal crypto portfolios?

dualstow wrote: ↑Wed Nov 17, 2021 9:38 am Okay can we get back to personal crypto portfolios?

I like Bitcoins in my portfolio.

Ill throw a couple alternate ideas out as well.

1. Buy BTC, collar it.

Buy spot BTC and then sell a call against it and take the $ from that sold call and buy either a put spread or puts. Example for September 2022 expiration: Buy 1x $60k BTC, sell an 80k call against it, and buy 60k put for downside protection. You can get this for essentially no cost. The positioning here allows upside exposure to BTC up to $80k, and you have no risk of a downside move (since current BTC price is $60k).

2. BTC Cash and carry.

Buy spot BTC and sell futures against it. Example: Buy 1x $60k BTC now, and sell 1x BTC worth of September 2022 futures against it. September futures are currently $65k, so you make a nice $5k profit with no BTC price risk. This isnt as attractive as its been at "only" ~10%, but still nice "risk free" trade. This trade has gotten into the 20%+ range during bullish periods.

3. Sell BTC covered calls.

This one has some downside risk, but if you already have some BTC and already told yourself youd sell your BTC if it hits $100k, why not sell a $100k call against your BTC and make some additional $ vs just selling it? A September 2022 $100k call sold would give you $12,000 USD.

my inflation hedge is 5% gbtc bitcoin , 5% gld gold , 5% dbc commodities and 5% cash ,that is 5% based on total investable assets …that kind of just flies fighter cover over the main portfolio

My crypto portfolio is kept in BRD wallet (thank you again, b in the vp), which I really like.
Sad to see they’re moving to Coinbase. I don’t like change, and I don’t want to have another experience like I did before BRD, like having a nine-word passphrase and being asked for 12 words.

I sold my bitcoin ETFs (at a loss) except for GBTC. I bought them as part of a previous iteration of my portfolio; however, I recently split my PP and VP, moving these assets to the VP. I'm going to run my VP as HB prescribes, by entering positions w/ pre-defined exit criteria. So I figured it would be prudent to clear the books as it were, and re-enter some of these positions more deliberately. I'll update as I do.

I kept my GBTC because it is trading at a discount to NAV. No changes in my real BTC holdings.