Part 3 of my of my investment (speculation) story in cryptocurrency
About 15 days ago, I wrote a blog post where I broke down how I had re-invested my $60K (USD) Profits in crypto speculation into numerous alt coins. I was extremely lucky enough to get into Ethereum and Monero before the huge jump in prices this year and wanted to diversify my holdings as well as continue stellar growth for my goal of reaching $1 million USD! Part 1 of my journey starts here where I invested a small amount into ETH and XMR.
An update
I was planning on writing update posts once a month, but with the recent excitement in crypto and the high activity I've decided to increase the frequency for now. Here is the updated table of holdings and their value as of today:
| Coin | Amount | Value ($USD / 03 Jun 17) |
|---|---|---|
| Bitcoin (BTC) | 0 | 0 |
| Ethereum (ETH) | 285 | 63, 555 |
| Monero(XMR) | 900 | 39, 600 |
| DECRED (DCR) | 133 | 3, 990 |
| NEM | 18000 | 4,140 |
| WAVES | 1500 | 6,870 |
| GOLEM (GNT) | 2000 | 954 |
| ICONOMI (ICN) | 2000 | 2,500 |
| MELON (MLN) | 50 | 2,850 |
| Augur(REP) | 22 | 545 |
| STORJ (SJCX) | 3600 | 2,340 |
| LiteCoin (LTC) | 50 | 1,400 |
| Ripple (XRP) | 6300 | 1,890 |
| Aragon (ANT) | 1400 | 3,000 |
| Total (03 Jun 17) | - | $133, 634 (USD) |
Holy S#iT!
To say I am happy would be an extreme understatement! I do worry about the impending bubble, but I also believe that there is more growth to be had in the overall market cap of crypto before it bursts...
As you can see, some of my coins are doing extremely well and some are stagnant. I don't really mind, what I've essentially created in my holdings is an index fund of sorts where I hold a decent amount of coins in projects that I believe in medium to long term. I'll keep holding these and track the index through them. I had to spend some of my precious ether and Monero to diversify , but I was seriously happy with the growth I personally made in those two and was happy to branch out into other coins through spending.
Endstate
My goal of $1million (USD) seems achievable at the moment (pre-bubble statement)... I guess the next trick is to accurately predict the bursting of the bubble and move all coin holdings into a "Safe" vehicle for the long term. For the record, I believe that the only safe holdings for crypto at the moment are Bitcoin and Ethereum.