More Crypto – sold KR1 / direct holdings, shorting Tether

Exited all my crypto holdings gradually over the past month or two.  I was lucky enough to be able to sell quite big chunks in early January.  Some of these are up over 10X but they were only ever a very small portfolio weight.

There is too much froth / junk / fraud in the market and I dont see downwards trend reversing any time soon.  I think there needs to be a big clear out before we can get decent rises.

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2017 Performance c+37%, Not bad, but never enough….

Just done my final performance numbers for 2017 – I recon the figure will come out at +c37%.

This isnt bad compared to FTSE AS Total return in GBP of 12%.  Volatility has been minimal – maximum monthly drawdown was 3.8%.

Continue reading “2017 Performance c+37%, Not bad, but never enough….”

Kryptonite 1 – selling half, +156% & Other Crypto thoughts

Brief post sold half my Kryptonite 1, for a modest 156% gain.  I say modest as pretty much every crypto related co or asset has outperformed KR1 since I got in.

I am not happy with their continual sub-share price placements – good for their connected friends and management but not other shareholders such as myself.  This, however is an irritant / contributory factor rather than the reason I am selling.  I also looked at the polkadot investment that others seem to rate so highly and to me they have invested £1m in something with no clear way to get the money back.  It could be that I dont understand it, or that I do – and it wont make money.  It equally could be that it wont make money and will go up anyway – in a market like this it wouldn’t surprise me.

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Exiting KR1 – 4.5p +15% – not enough upside

Exited KR1.  The price went up a bit from my entry at 3.75.  Coupled with this, the price of the underlying crypto fell quite a lot – 20-30% following China’s ban on ICO’s.  Nothing like good timing – and this was nothing like good timing….

This left it at a discount of about 10% at one point, so I wasnt inclined to hold.  There has also been quite a bit of selling of KR1 – today all trades were pretty much sells…

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Kryptonite 1 (KR1)- Cryptocurrency Investment Trust?

Just put a small weight in the somewhat oddly named Kryptonite 1.

This is a very small (£3.4m) market cap company.  It invests in the blockchain ecosystem.

I am investing in this as tracking the current value of their holdings on you can see that they are worth about double the existing market cap.

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Quiet few months for me – its been very hard to find good ideas.

This has led me to look outside the beaten path and I have decided to put a small portfolio weight in bitcoin / related cryptocurrency. I’ve somewhat changed my mind on this.  I did think of them as tulips.  Now I think they might not be, and even if they are – there is opportunity for money to be made.  All one needs to do is double your money and sell half – in crypto world an easy thing to do, and its all free from there.

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