Unexpectedly, we turned a profit our first month! Albeit, very small, but it is an extremely encouraging sign!
Our beautiful yellow bastard
This is just a quick update on how things have been going. We are very proud and happy to have been in the black this month. We anticipated that it would take 3-4 in order to turn at least some profit, so hopefully it only grows from here!
We haven't seen as many smaller buys as we anticipated, instead our sales have mostly been bolstered by $300-700 purchases. This is great of course, we love to see larger buys, just took us by surprise. We have seen a spike in the recent week with the increased price action.
That price action has been our greatest obstacle however. The turnover from depositing cash into the back, and buying Bitcoin is high and the volatility has led us to lose a few percent if the price jumps. We don't have a large enough Bitcoin inventory to buy Bitcoin every time we get a sale. Hopefully we can rectify this in the coming months by either increasing our stock or an injection of liquidity.
Our next goal is to get a BATman three to enable buys and sells.
One month down, many to go!