Five bullet Friday - issue #105

     Bitcoin's hashrate has been growing steadily upwards since China shutting down bitcoin miners. The NFT market is growing at an exponential rate. Number of my proprietary indicators are showing a bullish sentiment.

1. Right now, Infrastructure bill in Congress looks like it is going pass. Our congress wants to tax crypto transactions more and generate $30 billion dollars in extra income. If they are able to print $6 trillion dollars out of thin air, why bother taxing people at all. Why not print an additional trillion dollars and save the time and effort of all of this tax collection process? Congress works in mysterious ways. This is my favorite chart 😊 . See how bitcoin performed against S&P 500 and gold.

2. We continue to add to our YGG position last week. YGG is expected to announce an airdrop to YGG founders. They have recently released a report showing the earnings of the guild. The total value of the treasury as of the end of July stood at US$415,953,050. We currently hold 279141 tokens of YGG. Our portfolio can be seen here: https://zapper.fi/account/0xe787deec0be77db98a1294193e2c1600c8a8687d

3. We have added a new position in Blackpool finance. It is a smaller version of YGG. Blackpool finance attracts top gamers and enables us to stake our NFT assets and generate yield from them. Our purchase of Blackpool token is our venture into NFT space. It is not growing as fast as YGG but it is focusing on different NFT assets. It currently has $ 19 million dollars worth of NFTs that are used by the gamers.

4. We have not claimed our SNX fees this week. It does not imply that we forfeit our income. It can be claimed next week. I have not updated our Retained Earnings spreadsheet. We are waiting for the airdrop of various tokens like Thales, in the coming weeks. Here is the link for our retained earnings: https://docs.google.com/spreadsheets/d/1QU47tR4eK0fD2ySaP88LM9U46vD7p6mt80KSfqu00DI/edit#gid=366963260

5. At the moment, OHM is our largest earner of income. OHM's treasury has crossed $100 million in assets this week. It is remarkable that we have a war chest of assets just in a matter of 4 months. We received a total of 70 OHM every 8 hours. This gives us a daily income of 210 OHM tokens. At the current market price of $340, it is worth around $71,400 per day or $500,000 in one week. 

Ohm treasury:

 

Sam Ikkurty