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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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.

KR1 – Kryptonite 1 Good results re-entering

Got shaken out of my KR1 position by large falls in Krypto prices coupled with news China were restricting Crypto.

Bought back a 2.4% portfolio weight first thing this morning – this is nicely up already.  Not the smartest way to trade – going in and out of stuff like this at a 20% spread just makes market makers rich, even if you are trading profitably…