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IA Pure Form Crypto Allocations Today (Patreon)

Published:
2023-08-18 15:10:58
Imported:
2023-08

Content

Good morning everyone,

We knew August would be a tough month, but perhaps not this tough. The stories are still developing around what caused the big BTC dip, but it's likely a combination of three factors:

  1. Elon Musk's SpaceX selling its Bitcoin holdings. This was widely reported, but it's worth noting that it happened a long time ago.
  2. The ongoing crisis at China Evergrande. This is a major real estate company in China that is facing default. This has caused a lot of uncertainty in the global financial markets, and it's likely having a negative impact on Bitcoin.
  3. Massive liquidations of leveraged positions. This means that many investors who had borrowed money to buy Bitcoin are now being forced to sell their positions because they can't afford to keep the loans. This is adding to the downward pressure on the price of Bitcoin.

In light of this, I decided to buy a big bag of Solana yesterday. SOL has been performing well recently on a relative strength basis against other names. I'm also increasing my holdings of Tesla and MicroStrategy. I'm still holding a lot of cash, but I'm willing to take on more risk in the current market environment.

I'm also breaking my 10% rule in proxies. This means that I'm now holding more than 10% of my total Bitcoin exposure in MicroStrategy. This is a risky move, but I think it's worth it because I can make a lot of money selling calls against MSTR - stealing candy from a baby. I'm also getting more exposure to Tesla, which is already a very outsized position for me but the future is insane.  I PLAY WHERE THE PUCK IS GOING TO BE!

Finally, I swapped some of my pure-form Bitcoin into Grayscale ETHE hence the ratio change. I think this was a brilliant move, and it's likely the reason why my ratio of pure-form Bitcoin has dropped.

I'll continue to monitor the market and adjust my positions accordingly. I'm still short term bearish but VERY Bullish long-term, but I think it's important to be cautious in the current market environment.

Thanks for reading,

Files

Comments

Anonymous

Did I read this right? You sold some BItcoin for ETHE and the BTC price dropped because of it? Ladies and gents - we have a super whale 🐳 🐋 😂

Anonymous

Bitcoin dosent stand a chance when coming against the dark forces in the market and that is exactly what Gensler et al knows and wants

Anonymous

Thanks James, you help me relax and lower my stress levels.

Anonymous

I would so love to buy ETHE but not available in UK. I added TSLA and MSTR today. Stupidly added GBTC yesterday before crash haha

Anonymous

Sol crashing as it did and staying relatively low has been a godsend to me, got a reasonable bag (for me) and cost down to 20.68 each. I bought some near 200 originally with no hope of getting any real numbers

Anonymous

Wait, no HBAR or XRP? Kidding. :) Good stuff James.

Anonymous

thanks!!

Anonymous

Could you add your Tesla and MSRT percentage as well ?

Anonymous
>>115662142

Just as an example so people could try to get to same mix percentage

Anonymous

Appreciate your content and insights James. Currently, what is your allocation of Pure Form Crypto Holdings as a percentage of your total investment portfolio?