Cryptocurrency Fund Update – End of June

Whether you are following the bitGuru investment fund or not, it is safe to say we have not had the best start. We began it when we thought it was the end of huge bitcoin price decline… Only to then experience another major drop in the entire cryptocurrency market.

However this is one of the harsh realities of cryptocurrency and a reminder of just how volatile this industry can be.

Our Portfolio so far

up to now we have invested into two ICO’s; HeroNode and Quarkchain… both have been largely unsuccessful but look great long term projects so we plan to hold these for a long term. We then bought 100 NEO at $43 per NEO. Which now looks to be a bad trade but bear in mind this was to take advantage of the Neo Name service airdrop to add some free tokens to our portfolio.

The NEO will likely be sold our invested into an ICO at some point but not until we are at least breakeven on this.

See all the latest NEO news

Next investment.

With the markets as low as we have seen this year, we decided to place a buy order in on Ontology at the remainder of our Tether ($1,600) at $4.50 each. This filled on June 24th, 2018.

Why Ontology? 

With the Ontology mainnet launch coming up shortly we decided this would be a good short term investment and it was around the lowest price we felt it could go. The Ontology mainnet is due to launch at the end of July so this seems like a logical investment. If the price continues to drop then we will at least have ONT for which we will earn ONG. Meaning our portfolio will build itself up. Likewise with the NEO we purchase.

The next investment we are hoping to add is Vite. Vite is an upcoming decentralised application platform which are supposedly distributing their tokens via an airdrop. There is not too much more information about the airdrop right now but we have wrote about Vite explaining what is Vite.

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By | 2018-06-25T21:28:14+00:00 June 25th, 2018|fund|0 Comments

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