๐ฐ๐ My Strategic Cryptocurrency Portfolio - Update #3 ๐๐ฐ
Hi there!
Itโs time for update #3 on my strategic cryptocurrency portfolio and this time I included a nice pie chart especially for you ;-)
The main goal of these updates is to spark a discussion on what might be the ideal coin distribution within a strategic long-term portfolio. So do share your thoughts in the comments :-)
Current distribution
The cryptocurrencies below make up at least 70% of all the coins that I hold at the moment of writing. They are the โCoreโ segment of my portfolio as described in my post about the 70% Core / 30% Play Money approach to crypto investing.
Changes since last update
The first thing that stands out is the fact that there are now only 8 cryptocurrencies in the Core segment of my portfolio instead of 10. The main reason for this is forced focus. It became all the more clear to me that 10 cryptos is too much. There is a lot to keep up with in the crypto space and there is just a limited number of hours in a day and I want to spend those wisely :-). I will do a separate post on some tweaks I did to my portfolio approach because of this (update: post can be found here).
As a result of the above, Lisk and Siacoin moved to my Play Money segment. So I still have them, but there is an evaluation date set to see what I want to do with these two. For now I decided to hold them. That also meant I had to sell one other cryptocurrency from my Play Money segment because of the maximum 10 coins rule.
Lastly, you can see that I decreased my position in Ethereum and increased my position in Waves relatively. I am quite the proponent of Waves and I see a bright future ahead. I will do a separate post on the details of this.
So basically some redistributing and more focus. I strongly believe in setting rules to force yourself to make decision, in this case limited shelf space. Think about a small supermarket. It might only be able to sell 2 or 3 different brands per product group. Which brands will the supermarket manager choose? He does not have the space to stock 12 different brand of spaghetti or 17 brands of butter. He'll try to optimize for the space he has based on several factors, the most important one being profit per meter of shelf space.
That was it. Please share your thoughts in the comments and letโs discuss!
---> ๐๐ผ Follow me for regular updates on my cryptocurrency portfolio, recent crypto purchases, crypto research or just some Dice Challenges to train your brain ;-)
---> ๐๐ผ More on my 70% Core / 30% Play Money Portfolio Approach (updated)
---> ๐๐ผ Resteems are appreciated!
Disclaimer: I am not a financial advisor, trader or developer. I am just a crypto/blockchain enthusiast. Please do your own research, draw your own conclusions and do not invest any money that you cannot afford to lose.
I'm missing DASH and bitshares.
Yup, not in my portfolio currently :-)
What are the main reasons for you to invest in them?
Great portfolio, and write-up...You've done solid research into your investments!(i am more enthusiastic than educated unfortunately)..Your right we have some similarity's and deviations. Thanks and looking forward to future updates! :).
Thanks and I am looking forward to yours as well!
Very good portfolio, not all eggs in one basket =)
Thanks! Indeed everything spread out a bit. Do you some coins are missing?
I like Siacoin, Golem and IOTA =)
So you are betting a bit more on the decentralized storage and computing power industry :-) Good pick!
This looks like a well-diversified portfolio! Me myself prefers to gather money from pure BTC growth + arbitrage opportunities, rather than risking it on any coins other than BTC, but that's just my thing :P
It indeed is! It requires some maintenance, but luckily the whole crypto/blockchain space is very interesting and I am too curious about all the developments ;-)
I am curious though, did you do any type of anticipation on the whole 1st of August/SegWit2X/BIP 91 thing?
Yeah, I kept 50% in BTC and turnt 50% into USDT. I hope on a low price of BTC, then I'll just put that 50% USDT into BTC. If the price rockets, I atleast still got that 50% in BTC :)
Smart, thanks for sharing :-) ๐
will your well-diversified investment portfolio also include real estate, gold, and bonds, besides cryptocurrencies? It seems to me that the entire crypto market moves in correlation and you'll commonly take a huge hit if all your 8 currencies go down in tandem.
Good point. I dont share stuff on those investments here on steemit yet. I do actually have a good set of trackers and invest in bond funds. I try to minimize cash though.
My total portfolio is kind of well diversified to my opinion. Crypto is most interesting and exciting part right now and I like my index tracker on Greece ;-)
I think the best approach is to look at the investment portfolio as a whole. Keeping a large amount of cash on hand may not be a bad idea since you'll never know what other opportunities might lurk just around the corner. Besides, if the inflation rate is 3% per annum, you know that your minimum loss is 3% just by doing nothing, whereas any other investments might yield you negative rate of returns.
Then again, having some money set aside with no exposure gives me the comfort so I can sleep at night if all hell breaks lose in every single market.
That's just my opinion. I look forward to you sharing more of a well-diversified investment portfolio instead of focusing only on cryptocurrencies. :D
Valid points. I will think about it, maybe I will elaborate on that ;-)
@ cryptotem; please do also share alts which are part of "Play Money Approach of 30%" of the portfolio. There are List and Siacoin in above list.
Nice diversification, looking forward for the next updates. Cheers.
Thanks. What kind of information are you most interested in?
I am interested in what are the reasons you have invested in this particular crypto etc..
That will material for future posts. I am planning to dedicate time to write some in-depth research on particular cryptos :-D
Thank you, that will be great, looking forward to it :)
Nice post! Thanks for sharing you port details!
I have a little different strategy looking more for value investing in smaller coins with (hopefully) potential to grow more percentage-wise in the future:
https://steemit.com/cryptocurrency/@cryptosphere/top-10-cryptos-of-the-future-july-29-2017-a-weekly-ranking-of-the-best-place-to-put-your-money-in-the-cryptosphere
Nice post as well! Thanks for sharing :-)
One thing i see in all portfolios besides bitcoin and ethereum is stratis, seems everybody like the idea and tech behind it.
Thanks for the post, you talked about some good points!
Stratis is indeed interesting. Makes creating dapps much easier! What are your favorites?
My favorites and im gonna holding for a long time is stratis, ethereum and siacoin right now, im researching more for a long hold. There is so many interesting projects its hard to pick
Definitely hard to pick, but it seems you are making decisions after some solid thinking. Good job :-)
Nice! Very similar to mine! As you said ๐
Great minds? :-P
Of course!
Thanks for sharing what your portfolio looks like. I've always been interested in seeing how other people diversify.
You got any opinions on Monaco, Factom, Cloak, EOS, Tezos?
Indeed, always nice to compare portfolio. I especially like it when someone elaborates on their decisions in posts :-D
To be honest, I didn't do enough research on those cryptos (yet). Of the recent ICOs I know a bit about EOS, but since they don't have a product yet or technical solutions to core questions I feel it is too early for me to invest.
The other two, Factom and Cloak, I don't know a lot. Factom focuses on something with decentralizing documents rights? Do you have them? What do you think is most interesting about them?