Health, Wealth, and Happiness |
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"You get recessions, you have stock market declines. If you don't understand that's going to happen, then you're not ready, you won't do well in the markets."
- Peter Lynch |
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In today's issue: Most investors are either "all in" or "all out" on crypto, but we've found a better way with our simple strategy:
- Make monthly investments
- Into a well-diversified portfolio of stocks, bonds, and up to 10% quality crypto assets
- And hold onto them for 5+ years.
Our results (on the right) have blown away both the "non-believers," as well as the "crypto bros" who never report their long-term gains (because they don't have any).
Last week, we published our Crypto Investing Principles in one simple, step-by-step guide. Starting today, we're putting them into simple, step-by-step videos. Read on and watch below. |
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| | Must Read Today's most important story for crypto investors. |
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Coin Metrics, the data analytics platform, just published this deep dive into the current state of MakerDAO and its stablecoin DAI.
Given the importance of stablecoins to the crypto landscape, we believe keeping up with the health of this asset class is quite important.
DAI is the largest crypto-backed stablecoin, with a market cap of nearly $4.9 billion. However, it's having some problems.
- First, there's little acceptance for crypto-backed stablecoins from legislators.
- Secondly, MakerDAO is struggling with the decentralization of DAI, with most MKR tokens (used to provide collateral to the network) being held by the top 1% of addresses.
- Finally, DAI has been subject to the volatility caused by the string of recent bank failures.
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Investor takeaway: Despite its challenges, DAI continues to see healthy adoption. While we're skeptical on crypto-backed stablecoins (since a run on crypto could lose it all), Dai has survived multiple bear cycles and has continually adapted and grown stronger.
The biggest wildcard is how crypto-backed stablecoins will be treated by U.S. regulators. While not mentioned in the Coin Metrics report, it's worth noting that the recently passed MiCA legislation in the EU doesn't look favorably upon this type of stablecoin, which could prove troubling for DAI in the coming year. |
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VIDEO: The Case for Crypto Investing by John Hargrave |
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| | ICYMI In Case You Missed It |
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+ Your top 10 weekly fundamentals.
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How this groundbreaking regulation will change crypto forever.
The investor's narrative (and investor opportunities) in Hong Kong's crypto scene.
Everything we've learned in the last five years, step by step. |
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Bitcoin Market Journal is a daily newsletter that makes you a better crypto investor. It's created by John Hargrave, Nick Marinoff, Steve Walters, Anatol Antonovici, Matthew Du, Daniel Joel, and Preetam Kaushik.
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