Hello everyone! It’s the end of the month again, so here’s our mandatory monthly update to share what we have done this month in October 2021 with regards to our personal finance.
For October, we continue to add into crypto, but hey what’s new haha. So we finally took out capital from our US equities to reinvest them into crypto. What’s left of our US equities is the profits we have made, so we are left with playing with house money in the US equities.
We sold off our positions in Tesla (before the huge run up!), Unity, PayPal and Palantir, and kept our positions in Google, SE, and NVIDIA where the positions are equivalent to our profits in the US equity.
With the additional capital, we initiated new positions in crypto (SPELL, LUNA, PSI, SECRET).
October had been a mini rebound for the crypto market, and that lifted our net worth to all time highs. There are quite a lot of things happening in the crypto space, and countries around the world are changing their stance on crypto. SEC approved the first Bitcoin ETF, and Facebook also doubled down on the Metaverse narrative by changing their parent company name to Meta.
In Singapore, Tharman also shared that there is a role for crypto in finance, and Temasek led a huge investment into crypto exchange FTX. Actually to us now there should be little doubt that crypto is here to stay.
Our current combined net worth is at $2,290,000, including CPF but excluding our property and mortgage. This is up from $2,000,000 last month, a change of +S$290,000.
This month’s increase in net worth is due to the rebound on crypto. If crypto continues to expand its market cap this year, we should be able to end the year with a significant change in net worth this year, and may look to derisk a bit.
Moving forward, the movement of our net worth will be predominantly be caused by movements in the crypto space as US equity now is only about 10% of our net worth, and crypto takes up 70% of our current net worth.
Getting started on crypto
For readers who have yet to have any exposure to crypto, do take a look at the crypto space. There are many resources out there and as I have often shared, Chain Debrief is one such resource platform that we follow.
They have also grown quite a fair bit and they have a very helpful telegram community where you can ask questions and get them answered. In just a few months, we have seen them grown from a few hundred people to over 1k members now. Here’s the telegram group and I’m silently in the chat too 🙂
If you are looking to register for accounts to start buying crypto, we are using Gemini, Hodlnaut, FTX and Kucoin.
Here are some referral codes if you need:
Hodlnaut https://www.hodlnaut.com/join/hpgtm3bXH US$20 sign-up bonus after making a deposit equivalent of US$1,000
FTX https://ftx.com/#a=36327662 5% off trading fee
Of course, there are a lot of risks associated with investing in crypto, so for us, a big part of our portfolio is in Ethereum and Luna, two of the coins that we are most comfortable holding. And the rest we are placing bets on innovative protocols and projects that are gaining a lot of momentum.
Also, we wanted to point out that it is not like we are only investing exclusively onto crypto, its just that we are unable to find better opportunities (in our mind) in other investment verticals. We have been out from the SG market for a long while now, and for US equities, the risk-reward is lower than what we are seeing in the crypto space and hence to us we chose to deploy our capital into the crypto space.
If you have any questions on getting started, happy to help address them too! 🙂
In the meantime, stay safe and happy investing!
9 thoughts on “What Have We Done This Month Towards Our Financial Goals – October 2021”
Are you looking to trim some Luna by year end?
Hi XX HH!
Not too sure. depends on how high it runs. I think it shud be at least Solana’s market cap so will probably trim some then. 🙂
Thanks Mr Budget. I would like to know your thoughts about spell? And why are you bullish on it?
Hi XX hh,
Hmm for Spell, its a new model, and the APY is quite ridiculous. The model works and it makes sense, although it introduce a lot more leverage into the crypto system. So i put a tiny bit into it to compound and will withdraw my capital out when i doubled my capital. 🙂
Hi, I am new to crypto and am thinking of starting investing in crypto. Could you share which platform you are using? What are the fees? How does it actually work?
For us we are using FTX. The services we use are all mentioned in the article. The fees are actually quite ok. 🙂 We recommend FTX because you can do a direct USD transfer from your DBS Multiplier account directly into FTX and start buying your first crypto.
The fees per trade are less than 1%. you can sign up for an account using our sign up link to get 5% off your trading fee: FTX https://ftx.com/#a=36327662 5% off trading fee
I have been following your blog from Dec 2020, and really enjoy reading the updates. Was quite surprised to see your quick transition to Crypto from Equities. Even I have recently moved 20% of my portfolio into Crypto (ETH, BTC, SOL, LUNA and MATIC) after going down the rabbit hole. You haven’t recently published your crypto portfolio percentages, so just curious if you are still holding majority of ETH and LUNA (almost 40% based on your August update). What other Layer 1/Layer 2 blockchains are you looking at? And where do you think most value will be accrued (i.e. on dApp protocols like Arweave, Aave, Compound etc..) or Layer1/Layer2 chains like Ethereum, Solana, Terra etc..
Yeap im mostly fully allocated to crypto now. Only have some equities which are our profits in the US market so for equities we are playing with “house money” now.
For our crypto portfolio, have actually rotated our from ETH to other stuff.
Due to the recent run up in SAND, SAND is actually our highest holdings now. So in terms of holdings:
For now, looking at metaverse and gaming crypto as those will bring in the next billion users into the crypto world. will do our monthly update soon! 🙂
Interesting. Look forward to the next monthly update.
Surprised to note your exit from ETH to other chains or ERC20 tokens. In any case, good luck!