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Five Bullet Friday
January 8, 2021
Five bullet Friday - Issue #72
SI
Sam IkkurtyPermanent Link
Dear Partners,
This week is notable as the value of all crypto assets crossed $1 trillion dollars for the first time. Bitcoin still dominates the sector with a $750billion dollar market cap and continues to new highs.
1. We have received wonderful news from OCC, the largest banking regulator in the USA. They are allowing US banks to use public blockchains and dollar stablecoins as payment rails. Now this guidance allows public banks to treat blockchain infrastructure similar to SWIFT, ACH and FedWire for payments. This is a massive game changer for the crypto industry. We all know that blockchain technology is superior to these other technologies, which are over 50 years old. This will open the floodgates for the fiat money to flow freely into the crypto asset market.
2. Last week our position in WHITE token dropped to $1200. Whiteheart protocol is planning to go live in February. This token does not produce any income for us as staking is not active yet. We have added more with pull back and currently own 350 tokens. Zapper site has not completed integration with this project. Hence, this position can only be seen on the Debank site. Zapper is correct for other tokens, but not this one.
3. My first trade of the year is for ZLOT at a price of $350. I think it is absurd that a scarce asset with immutable supply with a generous cash-flows is selling at such a low price. I have added more around $800 again. Our purchases ranged from $350 to $1700. We currently own 1611 tokens of ZLOT. As a result, we are able to collect 25% of all the protocol fees in perpetuity.
4. Synthetix announced that their Layer 2 protocol will go live on January 15th. This excitement pushed up its price. Last week we generated $8200 in SUSD fees, which is a big increase from 2 weeks ago. We are able to collect an income of $43,951 per week and give us a yield of 32%. Since the price is going up, our yield is decreasing. These numbers can be seen in our retained earnings Spreadsheet here.
5. We are still earning bitcoins from operating our REN darknodes. Last week we were able to generate $638 per node income. We currently own 7 nodes. The Federal Reserve continues its money printing. They printed 69% more dollars just in the year 2020 alone. No matter which politician is in charge, the money printing will only accelerate.
Wishing you all a wonderful weekend!
warm regards,
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