Sunday Rundown - April 25, 2021
Still rollin'
Happy Sunday! Did you catch the monthly issue? If not, get it now.
What else happened this week?
Time magazine rolled out an 18-month subscription to people who pay in crypto—plus 10% bonus for paying with Crypto.com’s CRO tokens.
First, they issued their covers as NFTs. Now, they’re stacking sats in exchange for new subscriptions.
How many of their readers are into crypto? I haven’t read Time magazine in years.
(However, I did flip open Forbes magazine for the first time ever, after they gave me a one-year subscription for $10. Not sure I ever want to do that again.)
Some other news and notes from around the cryptosphere.
Got a few emails about the supercycle and my thoughts on the dip. In the Coindesk podcast, 2017 PTSD and the Dip That Ate Alt Season, Nathaniel Whittemore said in 10 minutes everything that I’m thinking about. Tap this button to listen to the podcast.
HODLing Bitcoin No Matter What Is Your Superpower
Bottom line: it’s hard to HODL bitcoin when you have massive gains.
My take: certainly, you shouldn’t risk your financial welfare clinging to bitcoin after it goes up 600% but unless you need to cash out, you might want to think long and hard about your decision.
Why we care: this market remains in a long-term uptrend. Selling bitcoin is risky and expensive (taxes and fees). Meanwhile, you have ways to get cash without selling. If you’re worried about bitcoin’s price going down, you can take out a short position (BitOffer has a BTC3R ETF that lets you buy a 3x leveraged short with USDT). If you need cash, you can borrow against your holdings.
Dogecoin Investor Becomes Millionaire in 2 Months, Inspired by Elon Musk
Bottom line: a guy put $180,000 into DOGE before its price went up.
My take: great that this guy did +5x on DOGE but you can do that with any altcoin during altseason. Not everybody has $180k to spare, but if you do, hey, why not throw it into a meme coin at the start of altseason? Also props to the editor for this post. Three high-value keywords in one headline! That’s how you get clicks.
Why we care: somebody will always do better than you do. So what? This guy says he’s going to HODL his whole stash. Let’s revisit this story in a few months.
Something for people who’ve been in the market for the long term. No explanation needed.
Relax and enjoy the ride!
Mark,
Thanks for insights, articles, and videos. Looks like buying time soon.