RCIF II - Five bullet Friday - Issue # 32

     In the past week, the country of El Salvador has officially implemented bitcoin as their legal tender. Many US corporations like Burger King, Starbucks, McDonalds, Pizza Hut are taking orders in SATS (satoshis, which is equal to 100 millionth of a bitcoin) in El Salvador.

1.  The word 'Salvador' in Spanish means saviour in English. It is apt considering that it is a saviour of the people around the world who are shackled to the current fiat monetary system. El Salvador recently built a treasury of 400 bitcoins on the first day when bitcoin payment systems were implemented. The top 6 apps used in El Salvador are bitcoin apps, whereas paypal is number 7.

2. Edward Snoden called El Salvador's adoption of bitcoin as a "pawn to e4' move. The first country to print fiat money and convert that to bitcoin will have a massive first mover's advantage. Capital will invariably flow from weak currencies to countries with strong currencies. Currently the bank accounts in Germany are enjoying a negative interest rate of -4%. Even if you don't do anything with the money in your bank account, it will disappear at a rate of 4%. Governments tell people to save money for retirement in a currency that is evaporating at a rate of  -4%. It is only a matter of time before this becomes normal in the USA.

3. In the last week, we sold out of our badger token and moved the proceeds to YGG. YGG is an index of play-to-earn games. It is a major holder of Axies which are used to play the Axie Infinity game. The recent decline makes it very attractive for the long term.  We currently hold 534535 YGG tokens.

4. Olympus DAO is now offering a "treasury-as-a-service" business model to other protocols. Alchemix is launching protocol bonds via Olympus DAO. This is hugely bullish for Olympus, as other protocols become customers for Olympus DAO enabling us to increase our own treasury. Olympus DAO collects 3.3% fees from the bonds sold. Each staked OHM token earns 0.0119 new OHM tokens per day. Our current portfolio holds 59,738 OHM tokens, we are generating 711 new OHM tokens of income every day. This translates to 711 * $417 (current market price) to $296,437 of income per day.

5. Adventure Gold passed the recent vote in which it is designated as the in-game currency for Loot(adventure). AGLD eventually will become the reserve currency for the metaverse. We are very early in the growth of the metaverse. I expect massive volatility in the short-term but as the Loot ecosystem evolves, this would be a long-term hold. We currently hold 1,136,341 tokens of AGLD in our portfolio.

Today Ravi Avadhanam is attending a conference in AAPI OHIO in Columbus, Ohio. If you are in the area he is available to meet. Please reach out to Ravi on 630.536.4115.

Have a wonderful weekend!

Sam Ikkurty