Cash / SRS / Crypto Portfolio
Performance Indicators / Dividends (TradFi Portfolio only)
- YTD Time weighted return: 2.83%
- XIRR since portfolio inception in 2013: 15.98%
- Dividends collected YTD: SGD 5,137.75
Note: I don’t provide details or returns metrics on my crypto portfolio publicly.
ETH approaching ATHs
August turned out to be the month of smart contract platforms. Many smart contract Layer 1s saw significant growth in usage and consequently price. This was largely led by a surge in dApps deploying to mainnet which implemented incentive programmes to use and test these newer Layer 1s and dApps. It was DeFi Summer 2.0, just that it was largely alternative blockchains. It’s a great time to be in crypto again.
Consequently, my overall portfolio value grew to $2,453,266, largely led by gains in ETH and other Layer 1s.
A year of crypto
I forgot about my crypto anniversary last month lol. What a year it’s been!
I bought my first coin in July 2020 and had rotated most of my $200k seed money from my stock portfolio by the end of the month as above. It’s crazy to think that I’ve turned $200k into a currently $2.29M position in 1 year. Easy 10x right there XD
Have learnt so much over the past year, will share in a future post.
Observations on the market
ETH/BTC surges
The most interesting observation over the past month was the relative underperformance of BTC, as seen by the surge in ETH/BTC. BTC has been unable to significantly break above the 50k resistance for any meaningful amount of time while ETH and other smart contract blockchains marched towards / broke ATHs.
Sign of the market froth? Or people waking up to the idea that smart contract blockchains have a larger addressable market than BTC?
Personally, I’ve always been betting on the latter. Conventional wisdom tells us that drops in BTC dominance is a indicator of market tops. However, we live in an era where smart contract blockchains have real utility like DeFi. And crypto has embedded itself in culture as seen by the continued NFT craze.
And boy are NFTs hot. Visa got their hands on one. Budweiser got the beer.eth ENS name. Maybe thats what driving the price growth – people buying ETH to ape into NFTs.
Will be interesting to see if the ETH/BTC bull run continues.
Continued DeFi bear market
The other running theme is the continued DeFi bear market in ETH terms. This is seen by the DPI index’s relative underperformance to ETH. This is also why my portfolio is underperforming ETH.
I wonder if its because I’m too early and institutional interest has not reached DeFi, or I’m just bag holding shitcoins lol.
I guess only time will tell.
Finding the next Axie Infinity
NFTs has been a significant blindspot for me as I dont have a full degen ape mindset. I like to still have some valuation rationality to my investment strategy.
Which is why I’m looking more closely at gaming NFTs going forward. Gaming NFTs (as opposed to Art NFTs) make some sense to me as there’s usually some kind of value accrual mechanism to them. As a gamer, it also provides some utility (like actually having fun with the game) for me.
Trouble is the most functional game at the moment is either Axie Infinity (quite a boring game tbh :X) or some game on BSC. My attention is focused on learning about upcoming games and potentially adding them to my crypto portfolio.
Reading up as much as I can atm. If anyone has suggestions I’m all ears.
As usual, this is not a call to buy or sell securities and its just sharing my own thought process for your information. Also, crypto is dangerous AF. Please do your own due diligence prior to investing.
Endowus CPF OA Portfolio
As you may know, I’ve started investing my CPF OA funds with Endowus. I’ve been sharing my portfolio performance for readers’ reference to evaluate product performance for themselves. Nothing much special this month, just the recurring monthly top up.
My current strategy is to allocate my monthly top up to funds that track the S&P500 and MSCI World Index.
If you want to learn more about Endowus, do check out my review (New features to be updated). Also, if you’re interested in opening an account, do feel free to sign up through my referral link. We will both receive $20 off access fees per referral.
Reader Appreciation
As usual, to the 4 people who subscribed to my blog respectively since my last portfolio update, welcome. Most of you guys subscribed / liked after my webinar with Endowus, which is awesome. Feel free to reach out via email or Facebook. I’m usually quite responsive as readers can attest to. Hope that you have found my blog content useful 🙂
Past updates:
July 2021
June 2021
May 2021
April 2021
March 2021
February 2021
January 2021
2020 Performance Scorecard
2019 Performance Scorecard
2018 Performance Scorecard
2017 Performance Scorecard
Happy Hunting,
KK
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