We’ve extensively invested in the cryptocurrency market and we have done so through multiple different assets. Long-term investing in a fast-paced market can be tricky at times because profits come fast – yes, it seems ironic/funny but we must secure these profits.
We all know the 2017 stories, how large profits evaporated in a matter of months because of greed.
Buy low & sell high
Such a simple statement yet too many people fail to apply it. Many actually do the exact opposite.
We’re creating this journal to record the profits we are taking, on which assets and at which prices. This piece will be updated regularly as we progress through the bull-run.
This cash we generate through profit-taking will be kept as fuel to deploy into the market should the market give us that opportunity. We always have an ace up our sleeve.
For reference, you can click here to see the full detailed explanation of our Crypto-Investments (entries, allocations, targets).
Buying absolute bottoms and selling absolute tops is a myth, which is why in most cases we will be scaling out of positions.
Average Entry Price: $0.07
Portfolio Allocation: 4%
After years of holding, it was finally time to take profit and take an exit for a hefty percentage! While we do think XRP may see higher prices based on retail hype, we simply can no longer afford waiting with even 3% of our portfolio in it when the new financial system is being built right in front of us – massive opportunity cost. In addition, XRP has served its purpose for us and we are now thankful for this wild ride and wild profit.
Average Entry Price: $2
Portfolio Allocation: 10% -> 5%
Exit (partial): $25
We bought DOT when it was first listed in August 2020 and our initial price target was $20. Fast forward to the start of 2021, the demand was rising significantly and that is where we decided to push over our target to $100. While we still believe that it is achievable, we found it wrong to not take partial profits at our initial target and cover our initial investment when the market is offering us that opportunity.
Luckily, the market has allowed to partially exit at 25% higher price than our initial target. Which now covers our principal and introduces further profits to be re-invested later on at attractive opportunities.