In This Issue
- My latest portfolio updates.
- Rebecca breaks down this week’s trending coins.
- Erik has a report for you on the difference between Bitcoin and Ethereum.
- The team from Euler talks about their lending protocol with revolutionary features.
- Jesse has a deep dive for you on DASH.
For any crypto related questions please comment on the website.
For any support related issues please visit wealthmastery.io
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Buy, trade, and hold 600+ cryptocurrencies on Binance
Lark’s Portfolio
Time To Do Nothing?
This week has been a quieter one for the old portfolio.
I bought some more Bitcoin at $18,800 and I bought some AVAX at $17.
I also moved some stables out of the market and into my bank account. With yields low and risk high I don’t see as much reason to have so much sitting in stables doing nothing when at least I can put the money in the bank and make around 4% here in New Zealand.
My shopping list remains about the same for the bear market.
- Bitcoin
- Ethereum
- Avalanche
- Joe
- Elrond
- “Blue chip” NFTs like Crypto Punks “if” the prices go low enough.
- High quality token sales.
- Dividend stocks – NZ based only due to double taxation of US dividends.
- Property – New builds only for tax efficiency. No rush here as the property market is still contracting.
Right now I am kind of obsessed with not losing money haha. Realistically my crypto portfolio is massive. Yes, I will keep averaging into key positions. Yes, I will keep you updated on that. But for the most part, I don’t see the need to rush right now.
We could be in for a long ride here with the bear market. So, with my stablecoin position I am being very defensive. I fully believe that buying consistently during the bear market will bring HUGE profits in the next bull run.
But as I have talked about and done personally it is and has been important to not deploy capital too fast. I could have gone all in at previous major areas of support, but that would have been a bad idea. That being said, I do not regret buying at those previous levels.
Obviously, all lending is now off the table, with what has been revealed in the last weeks I would never trust any lender ever again. They almost all lied and gambled with investor money. And while defi has largely kept working fine, with a few exceptions, the yields on offer are just not worth the risk of assets. That combined with the fact that for me, and likely many of you, every defi farm transaction is a taxable event.
Taxes, yes, I have been trying to use taxes strategically in the downturn. Selling my WBTC for BTC and cashing out of my JOE/AVAX pool both realized HUGE dollar losses which will reduce my tax burden.
I will keep monitoring my positions as well. You have no doubt seen me cutting some bags recently. Losers need to be cut. It is the sad reality of investing, but not all coins will work out. In fact, many won’t.
While I am generally happy with my current heavy bag of altcoins, I will keep a keen eye on them during the bear market for signs of failure. Not all will make it.
So right now, I am just keeping it simple. Weekly dollar-cost averaging. Playing it safe and not “doing” a whole lot.
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