18 September, 2023 seen 11Since the end of August 2023, I've been working on the Terramatris crypto hedge fund, growing the portfolio from scratch by selling put options on Ethereum. Every week we choose one crypto coin and invest all premium in it. In the last weeks, we have already invested in XLM, ETH, USDC, and BTC. I have decided to stick with these 4 tickers until we grow the…
Since the end of August 2023, I've been working on the Terramatris crypto hedge fund, growing the portfolio from put option premiums sold on Ethereum.
Every week we choose one crypto coin and invest all premium in it. In the last weeks, we have invested in XLM and ETH.
For the third week - we go with the USD Coin (USDC). Every time we are going to take options premiums this week (September 4 - September 10), we will re-invest the premium back in USDC coin for our long-term crypto portfolio.
We like the USDC coin as it is pegged to USD, and in the case of downside, we will have some of our funds protected. In the future, we plan to utilize these funds and buy some other crypto coin if there is a market opportunity, like buying the dip. Also, we are considering selling some of our existing Crytpo assets to USDC in case there are significant market gains.
USD Coin is a digital stablecoin pegged to the United States dollar. USD Coin is managed by a consortium called Centre, which was founded by Circle and includes members from the cryptocurrency exchange Coinbase and Bitcoin mining company Bitmain, an investor in Circle.
As of September 4, 2023, we are holding 0.51 USDC coins worth $0.51. Looking to hold at least $3 by the end of the week.