Welcome to Issue #43 of Wealth Mastery
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In this issue:
I discuss tips on how to protect your capital and some of the current yield farming that I am doing.
Defi Dad provides us with a guide of the biggest, most reputable applications on Polygon DeFi.
Rekt Capital discusses Stock-to-Flow models, valuable graphical representations of Bitcoin’s scarcity that are considered a reliable predictor in Bitcoin’s price.
Jesse has a report for you on the cloud computing coin Akash Network.
The team from Terra join us to discuss their very popular defi platform.
A quick reminder that all research and market analysis is provided for educational and informational purposes, and should not be considered as financial advice. You are ultimately responsible for your investments and trades, and they should only ever be entered by those who understand the risks, are willing to lose their entire investment, and properly understand how to manage their risk.
Also, every issue will contain more information, tips, hints, and analysis than you can make use of. Wealth Mastery is a tool, you are the craftsman. We are not a signal or pump group, we are a tool shop, you decide what information shared here has value to you or not.
As always, feel free to reach out to me by responding to this email with your comments or questions.
The Big Recap
Wow! What a crazy week for the markets! Just a few days ago everyone was feeling very pessimistic and now the sentiment has swung right back around. Reminding us of the truth of the reality of the market. Dips are for buying, and winning is done by buying low and selling high. Many coins have gone on to make new highs yesterday and today with Ethereum, Solana, Polygon, and many other roaring higher! This bull market is far from being finished.
JP Morgan is launching a Bitcoin fund for its wealthy clients. This is a dramatic turnaround for a company which once threatened employees with being fired for daring to trade Bitcoin. Reality is that every big bank will want a piece of the action. US Bank also announced yesterday that it will be offering crypto services to clients in the near future. US Bank is one of the biggest banks in the USA.
It has been a rough week for Turkey with two major exchange incidents including one where the founder has fled to Thailand with billions in user funds at risk. In response Turkey has said that it will be rushing out legislation to protect users, with the central bank even potentially taking a role. To be clear, Turkey is not banning, but regulating, although they did recently ban payments in crypto to protect the Lira and tax revenue the upcoming regulations are intended to protect end users from fraudulent operators.
Tesla has sold some Bitcoin!!! Shock! Gasp!!! Yes, it happened. They sold 10% of their position. Nothing to worry about, to be honest. Bitcoin does not rise or fall depending on one company’s investment in it. And Tesla is still holding 90% of their position. Elon Musk also admitted to owning Bitcoin when he said that he did not sell his personal Bitcoin is a response to Dave Portnoy.
NFTs are not dead yet! Rapper Eminem sold almost two million dollars’ worth of NFTs this week. And Binance has also announced that they will be launching an NFT marketplace in June! NFTs I think are about to have a…
