Is buying coins with Grayscale Fund sure to make money?
Hello, here is Geek Mining. Grayscale recently added new trust products with 6 currencies. I said yesterday that I would do a few episodes of programs to analyze these new currencies, and I also said a word in the program, That is, it is not too late for you to study these currencies with Grayscale today. Today we will use data to prove my point of view.
First of all, let me tell you, don’t regard institutions as gods, and don’t be superstitious about Grayscale. The coins selected by Grayscale sometimes fail. For example, have Ripple’s trust products been offline recently?
Also, if you just look at the list given by Grayscale today and directly allin and buy in one go, not only will you not be able to make money, it may even make you lose money, and it will cause you to lose money for a long time, the script of the program There are two pictures in it that you can look at. There were 9 trust products in total before Grayscale, and these currencies were btc eth.
After reading this picture, let's summarize. First, the total holdings of Grayscale Fund is 24.369 billion US dollars. Among them, Bitcoin holds 20.25 billion positions, Ethereum holds 3.74 billion positions, and the other 8 coins + total positions together are less than 400 million US dollars. Bitcoin accounts for 83%, Ethereum accounts for 15%, and other coins add up to only about 2%.
What is this indicating? It shows that other small currencies are dispensable in the investment list of Grayscale. For Grayscale, which small currencies are not important. It shows that the proportion of the newly added 6 coins is not expected to be too high. If it is large, it can occupy positions within 2% of the gray scale at most.
Of course, this is also the smartest part of Grayscale, directly buying the leader and second child in the blockchain market, discovering the value, buying and holding for a long time can make money, this is the simplest investment philosophy in the investment market, the road is simple , place heavy bets on the place with the most money in this market, because money is the smartest, and money is also spiritual, the market will automatically allocate money to the best assets, and the flow of money is the best choice .
Buffett did the same thing. Before, Mr. Buffett was not optimistic about Internet companies until Apple became the largest company and the company with the highest market value in the world. After becoming the world's largest company, Buffett immediately made a heavy bet and directly became Apple's third largest shareholder. The investment time was not less than 2 years, and the old man earned more than 50 billion US dollars.
For example, in this wave of global flooding, according to incomplete statistics, 30 trillion U.S. dollars of new money and smart money have just flowed into the world, and the money will soon find its place, no matter what the government does. It is useless to distribute this money to you poor people. Soon the money will go to the pockets of the rich and valuable assets, because he can only stay comfortably where the money is.
The most typical performance in the stock market is that the rich speculate on Apple, Google, Amazon, and Tesla, while the poor play on various stocks with small market capitalization. The result can be imagined, and the result is the same in the A-share market. The data as of January 2021 It shows that the number of shareholders of Kweichow Moutai is 114,300. How many people are speculating in A shares? There must be more than 100 million people, and less than one thousandth of them are willing to buy the best stocks selected by the smartest money in the A stock market value.
It is that they do not believe in the results of people voting with money, and would rather believe in their own professional knowledge. It is actually useless to read the financial reports of various listed companies and listen to the analysis of various financial analysts every day.
It's the same in our currency market. Why are you so calm after you watch a wave of bull market rise? It is because you have no currency in your hand, no Bitcoin or Ethereum, a bunch of altcoins, and various small currencies in your hand. After listening to the position list of Grayscale today, I hope it can inspire you.
Okay, let’s talk about it first. The information in these two pictures includes the holdings of each currency, the premium in the secondary market, the increment in the last 7 days, the establishment time of the trust product, and the management fee behind it. .
Well, here is the most critical information,
Btc: It was $120 when I bought it in September 2013
Today's price is 31,000 US dollars. If you bought it in one go, you would have made a profit. ETH; the price in December 2017 was 600 US dollars, and today 1,200 US dollars was bought at the beginning and it was a profit.
When Ltc was established on March 1, 2018, it was about 200 US dollars, and today the currency price is 131 US dollars, which is a loss
Bch: $1,200 on March 1, 2018, it fell to $422 today, which is a huge loss
When Etc was established on April 24, 2017, it was 3.4 US dollars, and today 7.2 US dollars is profitable.
When Zec was established on October 24, 2017, it was 220 US dollars, and today it is 85 US dollars, which is also a huge loss
Zen was established on September 6, 2018. I just didn't find the price of this coin on September 6, 2018. We will find it later when we record this coin.
Xlm: The price when the trust was established on December 6, 2018 was: 0.1 US dollars, today it is 0.22 US dollars, making money.
When Ripple was established on March 1, 2018, it was 0.9 US dollars, and today it is 0.3 US dollars, which is also a huge loss.
So, have these small currencies that Grayscale bought over the years really lost money? We will announce the results to you tomorrow
