For the last three years my approach to the crypto market has been one of 80% low risk (investment - long term holding) and 20% medium to high risk (trading in three categories with separate objectives being potential 10X candidates, 100X candidates and 1000X candidates).
Whether by good luck or good management (not overtrading) our overall portfolio gained over 90% in dollar terms in calendar 2023, but lost 10% of its value when based on Bitcoin as the base measurement currency instead of the USD.
During Q4, 2023, I decided that crypto still remains the market that offers the most dramatic growth opportunities, and that I would increase the proportion of our overall portfolio committed to crypto to the level we agreed in 2020 but which we had put on hold for all of 2022 and 2023 whilst the crypto market was in disarray. I subscribe to the view that 2024 will be different from 2022 and 2023, being the year of US elections (four year cycle), the year of a return to QE forever, an almost certain drop in interest rates and BTC halving, all of which should have a positive effect on the price of Bitcoin and (with a potential delayed price action) the rest of the crypto market. I do not believe the world will witness another 2024/2025 crypto cycle, so for me this is a “do or die” strategy. By the end of 2025, I will either have exceeded my lifetime goal in terms of maximum wealth achieved, or will be satisfied to live out the rest of my life with the peace of mind that you can’t achieve everything for everybody, and I will have made sure I will not be a future burden on any other living soul.,
Last week I funded a dedicated high risk, high reward low cap crypto account and had my new crypto business partner populate this account with 10 low cap tokens to 12Jan24 with a further 5 to buy before end of January, then move on to weekly planning meetings about changes (if any) to the holdings of this “interesting” trading account.
So having completed all of our 2023 and Jan24 crypto strategy and high level planning, I now look forward to weekly planning meetings with my crypto partner who will manage and drive this low cap, high risk portfolio on my behalf. I will not get involved with the mechanics of buying, selling or trading. My partner has done more than 10 times the quantity and value of trades than me since 2016 and has far more real market exposure than me. Not only does this change of approach allow me to concentrate on what I think I am good at, and leave to others those matters I am not very good at, it will result in significantly less time allocated to crypto overall, and give me more time of my own as I prepare for my seventh decade on this planet.
Four tokens were added 10Jan24, six more added by my partner whilst I was flying back home and five more to add when we agree on which exchange we are going to trade these tokens on. This small portfolio has an objective of using low cap, high risk, high reward participant tokens capable of mooning between 100X and 1000X. It has been funded with an expectation there is a good chance of losing 100% of funds. And it in this context that I will not be satisfied with any less than a 10X return on the total capital deployed to this fund.