#RAGETRADE – Bought BTC, XRP, & XMR
Sneaky Falcon Enterprises, LLC has purchased 0.08 Bitcoins (BTC), 2,448 Ripple coins (XRP), and 5.663 Monero coins (XMR).
The total cost basis for our cryptocurrency investment was $1250, with fees. Jordan has taken us down a path to the dark side…
In a radical departure from our standard US equity stock purchases, the team has made its first foray into the world of cryptocurrency.
The thesis is:
- The cryptocurrency hype is not yet overblown and we aren’t yet in bubble territory
- This investment provides an interesting diversification away from the stock market
- There is actually game-changing technology being developed, not just an anarchic assault on banking
We certainly aren’t sold that bitcoin is heading straight to $100k. We also don’t really think fiat currency is dead in the water… yet. However, we are excited to get in on the action. It would not bet the Sneaky Falcon way not to throw the dice and jump on the bandwagon.
Although there was some friction setting up multiple accounts and wallets and paying extra transfer fees to get into the coins we wanted, it appears to be working out so far. In the few weeks since our initial purchase of BTC on 10/11/2017, our total investment is already up 19% at the time of this writing.
We plan on taking a hold & pray approach on this investment, perhaps adding to our positions as we learn more and the market develops. Looking forward to seeing how this technology and our investment pan out.