The Fresh Tiny Bubble in Crypto

Things have calmed down in the markets ….

I am looking forward to watching the Masters all weekend. It is the one sports event I look forward to all year.

The opposite of calm and the Masters are my crypto accounts.

As you all know, I have once again thrown myself into all things crypto. In 2017 I was giddy with Bitcoin and Ethereum and by November of that year I could sense an end to the mania when my friend Eddie tweeted this:

Flash forward to today and this new bull market makes the last seem calm.

The total value of all tokens has now passed 2 trillion.

The yoots at Multicoin Capital have made opening my monthly statement a glorious party over the last year. When they dive deep into a coin/platform/token I tend to dabble directly myself.

A couple of months ago though my good friend Brian Norgard mentioned BitClout to me and so I went to check it out. Brian is an early adopter of everything. If he thinks it could be cool he will call me and try and explain it. As usual, I did not fully grok BitClout but decided to open a BitClout account and buy it with some Ethereum.

One big problem…I was sitting on the couch watching Netflix with Ellen and I had already taken an ambien.

Normally I will move $1,000 to test out a new wallet address (note to self – try $1 next time), but I moved $10,000. The bigger problem this time was that I forgot to copy to my clipboard the 12 word password to my account. Now I had $10,000 in a wallet in my mobile safari browser and I could not close the browser or else the money would be gone.

I was too sleepy to do anything so Brian reminded me NOT to close my browser and we would deal with it in the morning.

I woke up and my $10,000 was worth $12,000.

Today that $10,000 is near $30,000. That is not supposed to happen when you invest/trade on your smartphone after an ambien, but it sure is fun!

The real story here is that crypto is once again in a ‘tiny bubble’ as we march through 2021. When it ‘pops’ nobody knows.

Next up for me is a ‘Mirror‘ account. As Fred Wilson says, ‘one step at a time‘.

As I say here all the time…’learn by doing’.