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Covert Operative Cryptocurrency Portfolio: Q1 2022

The primary cryptocurrency portfolio of a former covert operative for the intended purpose of capital appreciation, wealth preservation, moderate DeFi trading and payment receiving.

4 months ago

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The primary cryptocurrency portfolio of a former covert operative for the intended purpose of capital appreciation, wealth preservation, moderate DeFi trading and anonymous payment receiving.

-This list of crypto assets is accurate as of March 2, 2022. Assets and asset allocations are subject to change.

BITCOIN  [BTC]

  46% of Portfolio   |   Holding Bitcoin is less investing your fiat and more saving your fiat, except you're saving your Bitcoin. Meaning Bitcoin is my store of wealth with steady high returns, as an alternative to holding cash in a so called high yield savings account at my bank. Except BTC doesn't lose near double digit value every year due to inflation the way my US Dollar does. Fiat supply is in a way infinite and gold while scarce, is not known how rare it is or isn't - whereas 21,000,000 Bitcoin units(coins) will ever be mined - with no exception. That definitive supply scarcity gives BTC remarkable valuation potential the world has never seen before.  

Once I truly understood (1000+ hours of study and research) what Bitcoin is and what it could be, I decided to convert most of my cash to it. I've never believed in an investment idea with this much conviction, I got into Tesla and Apple when they were in the single digits but still worry about the slightest negative price movements. Whereas I'm only up 15% with my Bitcoin holdings and even 60% price drops don't faze me at all - I've never been this comfortable with how my money is doing. That's because I believe where this is going for the longterm. This financial peace of mind is priceless.

Any cash I have would otherwise be sitting in a 0.55% APY (which is considered very high) savings account while losing north of 7% of its value every year - meaning I'm "earning" minus 6.45% every year. So I rather have that cash in Bitcoin where it's essentially programed to go up, is extremely liquid and I have self-custody over the funds.


SOLANA  [SOL]

  22% of Portfolio   |   Ethereum is the largest cryptocurrency by market cap, second only to Bitcoin and is the undisputed king of the growing list of smart contract blockchains. Many potential "Ethereum Killers" have emerged and I believe Solana is the best candidate to do just that, or co-exist together while the other blockchains die out. Solana is the fastest with possibly the cheapest fees that average well below 1 US cent. But SOL is not without its bugs due to being so new and innovative. Time will tell.

Ethereum is still a good bet and probably won't be "killed" but SOL may be the one to flip it (surpass its market cap) to become the number 2 crypto behind Bitcoin. I got in quite early making Solana my best trade at over 1000% profit and is a great hedge against my Ethereum holdings. I'm also earning around 6% staking most of my SOL via self-custody.


MONERO  [XMR]

  16% of Portfolio   |   If Bitcoin is digital gold then Monero is digital cash. Monero transactions and the users are completely untraceable. Just like there's no realistic way to trace a random dollar bill to who gave it to who and for what, XMR is the same. Unlike Bitcoin and essentially all other cryptocurrencies, every single transaction ever made can be traced back to individual users and the amounts that were sent / received. This is actually why blockchain technology is so powerful and useful, because of this transparency and immutable record keeping, but XMR has the benefits of this type of transactional finality / security but in a completely anonymous way - even the transaction amounts and wallet balances remain invisible.

These unique features make Monero the closest thing to physical cash in terms of utility as well as literal "stealth wealth".  The code that makes up Monero and Bitcoin are similar with both being proof-of-work and they are 2 of the most decentralized crypto assets in the world.

With certain DeFi transactions when taking profit, I swap the proceeds with Monero.  I sometimes receive my consulting fees paid in Monero by clients who require absolute anonymity. XMR is also a great store of wealth (although not as good as BTC) in the same vein as a numbered Swiss bank account.


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ETHEREUM  [ETH]

  9% of Portfolio   |   Nicknamed "digital oil", ETH is valuable in the same way as actual petroleum oil is as it requires "gas" to make transactions, execute smart contracts and mint NFT's.  It's an enormously vast ecosystem that runs on this "oil". A victim of its own success, these "gas" fees have become extremely expensive due to demand. The blockchain also can not scale, especially compared to its competitors. This is where Solana shines, scaling faster than any other blockchain and with almost zero fees. But there is extraordinary value in Ethereum and is an ever growing behemoth.  

Ethereum is a "bluechip". It would be safe to say that ETH is the "safest" investment you can make in crypto, second only to Bitcoin  - but that means there's less potential for ultra-high returns for that safety.

My cost basis for my Ethereum holdings is good for stocks but mediocre for cryptos. I do believe in the project and expect ETH to rise much higher but it's unlikely I'll keep it "forever" like I will with my Bitcoin. Most of my ETH is in a self-custody wallet and the rest is staked with Coinbase earning 4.5% APR.


FANTOM  [FTM]

  7% of Portfolio   |   Bitcoin is a hedge against USD (or all fiat), Monero is a hedge against Bitcoin, Solana is a hedge against Ethereum and Fantom is a hedge against Solana. Fantom is also a smart contract platform blockchain like Solana and Ethereum, of which is also touted as a potential "Ethereum Killer". Maybe, maybe not, it does have good fundamentals and has great potential for significant returns. I originally acquired a bag of these when it dropped scarily low as a purely speculative asset. But I'm back up a hundred percent despite the recent 40% correction.

FTM is the only cryptocurrency in this portfolio that is fully held with an exchange, this is because it's the only asset I plan on selling in the foreseeable future. So my entire bag is with the Gemini exchange earning 2.44%. I could stake it directly with the Fantom network and earn more than 14% but that would be inconvenient and too time consuming for when I want to sell in the event of sudden dramatic price action.


Bitcoin IRA  [ROTH]

  Other   |   Due to the self-custody nature and full control capability of owning Bitcoin, it's not as necessary a concept as having stocks in your IRA. Because you can't take literal possession of your stocks in the same you can with BTC. However, there are tax benefits and enforces the "hodl" mindset of owning Bitcoin by keeping it in your IRA for years.

This was an experiment that I wanted to test out as I haven't been adding to my dividend stock IRA portfolio as of late. I've chosen Kingdom Trust Choice to invest my Bitcoin IRA with. I can't simply send BTC to this account with my wallet, so I purchase small amounts of sats through the app when the price dips.


The Self-Sovereign Cryptocurrency Portfolio of [detcadeR]

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Published 4 months ago