First Crypto Cash Out
Slightly over a month ago, I bought a certain crypto (I will not name it).
Today, I decided to sell some of it.... at a +446% gain.
I won't give you a dollar figure (obviously), but I can assure you that the profit is in the thousands, NOT in hundreds.
Actually, I don't mind revealing a slight ballpark figure, but I will not elaborate further. The profit from this single trade, which is only a portion of my total tokens in that crypto (<10%), which is in turn only a portion my entire crypto portfolio (<25%), is almost the same as the entire profit of my SGX portfolio, which I have been carefully and slowly investing since Mar 2014. You could argue that I'm a shit stock picker, therefore my stock returns are low, but I don't think my stocks returns are that bad. The STI was 3.08 when I started and it's 3.34 today + dividends along the way. By my calculations, I've outperformed the STI by a solid 7% in total returns.
So, the returns of <2.5% of my crypto porfolio in less than 2 months is about the same as the return of my entire SGX portfolio for the last 3 years.
And it would clearly be more if compared to a simple portfolio of only the STI ETF.
And mind you, this is without any leverage at all.
Again, you can take this post that GMGH has lost his marbles, forsaken traditional investing, has balls of steel and is now posting his returns from a good gambling run at a casino. What a douche. A lucky douche, but a douche nonetheless.
Or you can take it that cryptos have mindblowing potential and that people with SOME sort of investing experience and knowledge actually have an edge over all these self proclaimed crypto gurus, and can reasonably make very respectable profits in the crypto space.
I'm not telling you to jump into this. I'm just showing you what is possible.
Seriously, this isn't a shill. This isn't a sell. I don't even want to tell you what crypto it is that I bought and sold. Later you say I only say so that others can pump it while I dump it on them and cash out, no thank you.
It's up to you to decide what you want to do. And this is just me rambling on about stuff on my blog.
The big question of the day: What am I going to do with my profits?
Answer: Plow it right back into another crypto.
Wish me luck, it looks like financial freedom has just jumped forward 20 years earlier for me.
Oh, would you look at the time. I'm due for my medication now. Excuse me.