BOS update June-July 2024
We warned you they were sneaky…
Last month we told you that billionaires will lie to you, if they think they can make a dollar from it. This should not be news to those who have been in the Puppy Pack for a while, because we also wrote about lying billionaires in Jan 2023…
Billionaire investor Warren Buffett said Bitcoin was “rat poison”; then his company loaded up on blockchain stock, NFTs, crypto Visa cards and a digital Euro.
JP Morgan’s CEO said that Bitcoin was a fraud; meanwhile, his company purchased almost a billion dollars worth of Bitcoin across four separate (4!) Bitcoin funds. Would you do something four times and not realise you had done it? Would you invest a billion dollars in something you claim to dislike? It doesn’t take a genius to figure out the liars.
Set your calendar to come back here in a year or two and see if billionaire and ex-Paypal CEO, Peter Thiel is lying when he says “the Bitcoin price will not increase from here”. Thiel just happens to own an investment fund that bought Bitcoin for under $500, sold it for over $60 000, and then bought it again when it went down to $30 000. Maybe watch what he does and don’t listen to what he says.
If you know the value of what you have, whether it be gold, crypto, or your second-hand car, you will not be silly enough to sell it to someone who tries to claim it is worthless. Do not sell something of great value to a liar buyer.
Is crypto stuck?
Many talking heads on YouTube and regular daily media have been complaining that “crypto is range bound” as Bitcoin prices have been stuck between $60 000 to $70 000 for what seems like several months. They will even make up theories as to why, as if they had any insight, or as if they had personally interviewed all the crypto owners in the world.
The old adage is “If in doubt, zoom on out”.
Yes, it’s true that Bitcoin has been trading for between $60-70k for a little while. But it is also true that the $60 000 ‘floor’ is **double** what the price was one year ago.
I will say that again for the people in the back: “The current Bitcoin price is double what it was one year ago”.
In the recent past, the Bitcoin price bounced between $20 000 and $30 000 for 18 months, from May 2022 to November 2023. Then it doubled.
Also during the period May 2022 to November 2023, Solana constantly hovered between $20-30. Then it quadrupled.
There are many other coins that have gone up and down within a range for a few months and then taken off. Hang in there. Investing is a marathon, not a sprint. There will be some sore spots, there will be false horizons, and there will be times when you want to give up just before the final corner. Hold on.
If you’re ever in doubt, zoom on out.
The good news: red tape is coming!
The good news on the horizon is that crypto is starting to receive some red tape.
Hear me out: I know that red tape can sometimes be a nightmare, and it often slows progress, but life without red tape is a nightmare.
Bureaucracy can be good if it makes everyone safer. Seat belt and helmet laws have saved lives. Government regulations mean that nobody can sell snake oil as a cure and nobody can claim that “more doctors recommend Camels”.
Rules and regulations mean that board rooms and stock markets are policed and rogue traders can be imprisoned. The red tape in investment markets makes them less exciting, but also more safe and reliable for everyone.
After years of maligning crypto, the USA has backflipped, with three presidential candidates saying they love crypto now. The IRS has drafted forms to make it easier for crypto investors to pay their taxes. China has permitted crypto again. Europe is making some workable regulations.
The first European rules are already in effect, with more coming into effect by December, and still more rules being phased in over the next two years. The European Union’s comprehensive and cooperative “MiCA” regulations set a precedent for the rest of the world to follow.
Things are changing already. Things will change more in the next six months, and they will be dramatically different within two years. Crypto will no longer be the wild wild west. There will be speed limits, seatbelts and helmets. Playing will no longer be so dangerous. But it can still be fun. Strap in and let’s go!
How did we go this month?
We had some nice returns in the flagship Bostoncoin fund. Solana is still going strong, up 801% for the past year, with newcomers Kaspa up 696% and Arweave up 497%.
Some of its defensive assets held the BOS fund back. These protective assets go up when the market is down and are often boring when the market goes up.
Overall, the BOS fund is up over 11.5% for the past 12 months. It is a return that is around triple what cash in the bank made, and almost double the return of most superannuation funds. You can still brag to your friends
As at June 29 2024
BOS Price AUD 75.3648678212
BOS Price USD 50.329987
1 year: 11.53%
2 years: 7.12%
3 years: (-)50.09%
4 years: 258.36%
5 years: 209.98%
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DART had some great results from investments in Solana (801%), Akash (723%), Pendle (676%) and Thorchain (437%).
Overall, the DART fund is up 243% for the past twelve months. That’s around fifty times what your grandma earned on bank interest and more than thirty times as much as some of the best superannuation retirement funds in the world.
Yes, by all means, celebrate the win, yet realise that with great returns comes great volatility. We cannot promise that the next month will be smooth for DART. We can only promise that we will do our very best for you over the longer term.
As at June 29 2024
DART Price AUD 201.5466452984
DART Price USD 134.5861
1 year: 243%
2 years: 223%
3 years: 201%
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Have puppy passport, will travel
The full-time Boston CFO and part-time Dogfather, Jeremy Britton, is off to chat all things crypto at CoinFest Asia in August, and will be live on stage in Los Angeles for another crypto event in September. If you happen to be in Bali or LA, please come and say “G’day”.
Remember that we also have a cupboard full of cool Boston swag for those who share the good news about the world’s number one crypto fund. If you do not yet have a Boston coffee cup, Boston pen, Boston umbrella, Boston shirt, Boston hat, Boston gym bottle or Boston watch, then start by forwarding this newsletter to a friend, or suggesting your friend check out our website. We would love to send you a gift for bringing a friend to the puppy party.
See you next month
JB
