Disclaimer: Your capital is at risk. This is not investment advice.
ByteTree's Crypto Model Portfolio
ByteFolio brings together ATOMIC, ByteTrend and Token Takeaway to create ByteTree’s model portfolio, known as ByteFolio. This is a selection of crypto tokens, which are weighted according to their risk/reward characteristics. ByteFolio has a modest turnover and will not suit traders. It will appeal to investors who wish to diversify beyond bitcoin, with the aim to beat it.
Welcome to the first of many ByteFolio updates.
The crypto discussion takes place in ATOMIC and the token research in Token Takeaway. ByteFolio puts it all together and publishes the portfolio with any recent changes. You can reasonably expect the portfolio to have up to 12 tokens over the coming months, but we will take time to build up to this, typically with a new token each week, assuming the market climate allows.
ByteFolio has been launched with 10 BTC. As of midnight (UTC+1 or BST) tonight, 15% of the BTC will be sold for 10% ETH and 5% for NEAR. The portfolio will be measured in BTC, which will help to keep the focus, and not be overly distracted by the crypto vs dollar volatility.
There are a few points worth mentioning. ETH has been included because it is an obvious choice, not as a challenger to bitcoin but as the leading platform for smart contracts. Bitcoin needs ETH because it is the home to nearly $200bn of stablecoins, and without them, bitcoin would still be dependent on traditional banks to deal with the exchanges. I suspect bitcoin would be sub $10k if stablecoins didn’t exist. That makes stablecoins essential, which makes ETH essential!
The 10% weight is likely to grow, but it would be imprudent to go large in week one, especially since the market has rallied. Each week, ByteTree will add new opportunities as they arise. This portfolio will be full of life by the summer.
If ETH is essential, then so are the challengers. I have started with NEAR because it has an impressive team with good pedigree, and the price is low compared to the more well-known competitors. I also gather it is a hot spot when developers want to work. Once again, it has been a buoyant week, and I can add more exposure to NEARat a later date. Given its small size, it has good potential to catch up.
The prices paid for ETH and NEAR will be recorded tonight. Welcome to ByteFolio.