Cryptos are crashing again – sorry for the bad joke. I was having a meeting earlier with my local partners on how the crypto assets might disrupt our investment portfolios. Crypto assets will probably end in “tears” (blowoff bubble) according to some critics someday but that day is not close. Cryptos are the most misunderstood asset class in the world. You are still skeptical because you think the space is overrun with criminals and you are wrong.
Another dose of optimism from a partner who works in a different time zone just landed in my mailbox. You can’t make this stuff up. He is one of the best analysts I know. I can’t disclose the specific trades due to compliance and please ignore the technical terms that you don’t understand.
Here is a section:
It must be noted that while Bitcoin (BTC) and Ethereum (ETH) have gained 36% and 32% respectively over the past month, two of our largest favored altcoin holdings, “X” and “Y” have gained 139% and 98% respectively.
X is a crypto computing platform that aims to achieve high transaction speeds without sacrificing decentralization. It employs a bundle of novel approaches, including the “proof of history” mechanism. According to a report by asset management firm VanEck, X’s valuation in 2030 could be significant due to its strides in the Smart Contract Platforms (SCPs) sector.
SCPs are systems that execute contracts on a blockchain without third-party interference. While other SCP-compatible blockchains exist, X has dominated the sector.
Y can facilitate secure communications between Ethereum projects and various off-chain data. In addition, Y has been on a collaboration spree, partnering with key players such as Australia’s ANZ bank, Vodafone DAB, the SWIFT banking service, and DTCC, the largest securities settlement system.
The three components of Y Proof of Reserve are secure, near real-time data aggregation, a blockchain-agnostic design for managing onchain liability balances, and synchronization of offchain assets and onchain liabilities for risk management and reporting. Essentially, Y will serve as a bridge between smart contracts on the blockchain and real-world data, applications, and payments.
We continue to believe that the higher-Beta Altcoins will outperfom heavyweights BTC and ETH as the market gathers traction and more investor interest with fresh capital being injected into the sector.