What Have We Done This Month Towards Our Financial Goals – November 2021

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 November 2021 with regards to our personal finance.

For November, we continue to add into crypto. November was a positive month for our crypto portfolio due to the metaverse narrative which sent a lot of metaverse related crypto to new all time highs. For November too, we continue to see more and more companies moving into the crypto world:

  1. Facebook announced that they are rebranding to Meta, a commitment to build the metaverse in the next 10 years
  2. Other global companies like Adobe, Microsoft, WWE, TikTok, have all announced plans for the metaverse and NFT space too.
  3. OCBC announced that they are looking to launch a crypto exchange
  4. Adidas and Nike both announced that they are partnering with Sandbox and working on the metaverse / NFT space

We expect to see more and more news around the metaverse and the blockchain technology, and again, while things may still be early, we will not be “early” per se soon.

Our current combined net worth is at $2,670,000, including CPF but excluding our property and mortgage. This is up from $2,290,000 last month, a change of +S$380,000.

This month’s increase in net worth is due to the continued rise in 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. One more month to year end – hopefully we end the year with a big bang upwards!

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.

Our crypto portfolio is mainly “carried” by our position in Sandbox. We had been holding a small bag of it and it has since tripled in value to become our second largest holding due to the metaverse narrative.

As there are readers who were asking, we had actually rotated out from Ethereum and are not holding onto altcoins.

Our holdings in terms of position size is currently: Luna, Sand, Avax, Kadena, Crypto, Arweave, Algorand and a handful of other smaller positions. We expect the total crypto market cap to rise to at least double from the current market cap, and with that hopefully altcoins will also rise by a bigger magnitude. When market gets overheated, we will look to rotate our holdings into bitcoin and ethereum.

While every month we continue to add into our crypto portfolio (few thousand dollars from our salary), at this stage, rotating into the right crypto positions is more meaningful in terms of giving us the net worth gain because the capital injection doesnt really move the needle for us now. So at this stage we need to be sharper in terms of our portfolio rotation.

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 2k 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:

Gemini https://www.gemini.com/share/pqepnn8s9
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
Kucoin https://www.kucoin.com/ucenter/signup?rcode=r3385MC

We wanted to point out that it is not like we are only investing exclusively onto crypto, it s 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!

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