Week 14- Apr 2 Investment Moves
Week 14- Apr 2 Investment Moves
- April 2, 2024, Option Trades
- Bitcoin / Ether Update
- What I'm doing right now?
April 2, 2024, Option Trades
Here are my options trades for today:
I'm adding risk on Visa Iron Condor. Visa has been moving down recently. I wanted to add some risk on the call side lowering the SP from $310 to $305.
RIOT has not done well in the last two weeks. Adding risk back into the trade by lowering the Strike Price.
Bitcoin / Ether Update
The market has been showing signs of weakness since hitting ATH recently. In the past, Bitcoin hits the new ATH after the halving. This year, we hit the ATH recently on March 13, 2024.
We are seeing some profit-taking going on. Now ETF investors don't really look at the daily prices. They generally like to DCA (Dollar Cost Average) into a position without going all in at once. What this means is we will continue to see INFLOWS in Bitcoin Spot ETF over the next 5 years.
What I'm doing right now?
I'm doing what I have been doing in the last 5 years.
- 401K will continue to buy stocks with each paycheck.
- BTC Mining / Adding a small position into BTC.
- NFT 3.0 gaming (Splinterland / Big Time)
My 401K has been hitting new highs recently. The account highlighted in yellow is the one I have been sharing on social media over the last 4 or 5 years. I have shown how it grew from $30K to $120K. It passed the 100K market at the end of 2023.
Nothing has changed with BTC mining. I don't mine everyday. I do it as a hobby now and not a business. My gaming PC is old and not effective in Bitcoin mining. If Bitcoin 5X from here, it means I was making $3 a day. If Bitcoin 10X from here, it means I was making $7 a day. This is more like coffee money, and not life-changing stuff.
NFT gaming (Splinterland / Big Time):
I'm still playing Web 3 games like @Splinterlands and @BigTime.
Splinterlands is a trading card game like Magic (MTG) or Pokemon. The money is made by collecting rare cards (assets) and holding them. Splinterlands has a built-in system where cards get combined to level up. This burning process is what creates a lesser supply of the cards in the future.
Big Time is an RGP game with up to parties of 6 players. This is more like a traditional World of Warcraft-type game, except you can own assets in the game.
The game economy is growing each day with about 100+ new users collecting assets. We have over 74K users with NFT in this game. Big Time also has a concept of burning (or combining) 3 of the previous level items/hourglass to make the next rarity item.
Add a "use case" to the NFT that makes people need/want it is what creates value. NFTs that are GIFs of cats, apes, or other items often lack a real purpose. This is why 99% of NFTs are useless. Let's see if the team can continue to encourage more people to collect their NFT.
Have a profitable day!
Solving Chaos
