GM. This is the Milk Road, we help you get smarter about crypto, without ever making you feel dumb.
Today's estimated read time: 2 minutes & 29 seconds
Here's what we got for ya today:
- 💰 We talk to a dude worth $100M and asked him his crypto investment strategy
- 🏈 Socios, a fan token platform, is taking the sports world by storm
- 📈 Chart of the day - Milk has gone up how much this year?!
WHAT A CRYPTO WHALE IS INVESTING IN
Every Milk Road reader is awesome. I’m like a mom, and can’t pick favorites.
…but if I did pick favorites. Here’s one of my favorite readers. He’s a crypto founder worth $100M+ and offered to share his portfolio strategy as long as we keep his name anonymous.
Done and done.
Alright, [mystery] spill the beans.
Question - What are some of your long-term plays right now?
My largest crypto holdings are BTC and ETH. These are the two assets in which I have the largest long-term conviction.
With that being said, I put these to work to earn more…I use the BTC to borrow stables for farming on various chains, and I sometimes pair the ETH with other assets for farming.
(if you want to learn how to do this, Milk Road “dummies guide to DeFi” course coming soon..join the waitlist here)
What are some tokens/projects that are giving you good returns right now?
I have some locked CVX and CRV tokens that earn weekly or bi-weekly bribes. This is pretty lucrative.
I also like the SIFU token, in which long-time DeFi guru Sifu attempts to track his own portfolio, targeting 40% per year.
There's some controversy around Sifu, as he was doxxed as the co-founder of the Quadriga exchange, but he's a ridiculously good trader and this is essentially copy trading his moves.
Are you involved in any stablecoins at the moment?
I keep stables on Anchor as UST (permanently earning ~20% APR) and then take advantages of temporary opportunities to earn more on platforms like Stargate or Platypus.
Any other interesting things in your portfolio?
I’ve always liked to have an allocation to gold in my broader portfolio, and I've been transitioning from ETFs to the PAXG token, since interest can be earned on the gold on various platforms.
How are you staying ahead of the curve? Any tips for us?
I’m in a private Discord that formed between 10 friends a few years ago (all different wallet sizes).
Each member can periodically propose someone new for inclusion, and we perform a vote to add new people.
There’s an amazing range of experience and expertise now in the group, and we all share alpha. In my experience, far better alpha is found in groups like these, than Twitter.
You should go get your own group of people like you, so you can win together!
WHERE JACK DORSEY'S $2.9M TWEET IS NOW
Jack Dorsey turned his first tweet into an NFT last year and sold it for $2.9M.
OK so check this out. A guy bought it for $2.9M. And tried to resell it just now for ~$40M.
He put it up for auction, and waited for all the bids to rain down on him.
But…only 7 bids came in. The auction didn't meet the reserve, so the owner still has it...but that's a lot lower than the $40m he wanted!
This looks like it'll be a huge loss for the buyer to take, which got us curious….who spent $2.9m on this tweet?
Sina Estavi. He’s a crypto entrepreneur from Iran. He’s been the founder of an exchange called CryptoLand and had another project called Bridge Oracle (BRG token).
The crazy part was he was arrested back in May 2021 in Iran on charges of “disrupting the economic system”.
When he went to jail, both his crypto projects went under and now he’s working on new projects.
It’s like the Tinder Swindler, except with no chicks, no money, and no netflix documentary.
The Milk Road’s take: Be careful with big NFT purchases. The house can come crashing down. Having said that… we would buy this for $1k easy, right now!
SOCIOS PARTNERS WITH THE NFL
Yesterday Socios announced they have signed multi-year deals to create fan tokens with 13 NFL teams.
The interesting thing: Socios isn't actually doing any fan tokens yet for any of these teams...they're just buying marketing programs with the teams.
The logical next step is they're gonna parlay that into creating fan tokens that will look like loyalty programs - I.E. letting holders do things like enter into giveaways, get exclusive content, and more.
Milk Road’s Take: Meh - these NFT partnerships get big press releases, but rarely turn into anything meaningful. We’re more bullish on fully fan-owned teams (eg. a DAO buys a soccer team), where the fans have real ownership, real voting options etc.
CRYPTO RAISE OF THE DAY
Context, an app that lets you track wallet transactions, announced that they raised $19.5M.
It’s a little like Venmo, there’s a feed of what other people are buying/doing with their wallets.
Check out what Vitalik has minted recently:
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4 NEWS NUGGETS
Luna Foundation Guard (LFG) buys another $100M in Bitcoin earlier this week. It’s interesting. Even with two whales (LFG and Michael Saylor) buying hundreds of millions in bitcoin at a time, the price is dropping.
The ETH2.0 update is getting delayed another few months. Eth2.0 update and delays, name a better duo. Devs are saying they are in “final stages”, but it probably won’t happen until Q3. =[
Nexo, a crypto lender, has partnered with Mastercard to create a new crypto-backed credit card. All purchases are deducted automatically from your available credit line while your portfolio remains intact.
The Texas security commissioner ordered an emergency cease & desist order to shut down a metaverse casino. The founders were accused of trying to fraud their investors through NFTs and assuring investors they were fully avoiding securities regulations.
U.S INFLATION IS REAL
Two days ago, we heard that US inflation was the highest been it’s 40 years.
Just look at the impact it’s having on things we buy every day:
Price increases in the past year: gas: +49% used cars: +35% hotel room: +29% airline tickets: +24% car rentals: +23% bacon: +18% oranges: +18% furniture: +17% peanut butter: +16% crackers: +16% steak: +16% suits: +15% butter: +14% milk: +13% lamps: +12% coffee: +11% cereal: +10%
— Jon Erlichman (@JonErlichman)11:49 PM • Apr 12, 2022
Hey, atleast the Milk Road is free!
See ya tomorrow!
Shaan "Chocolate Milk" Puri and Ben "2% Milk" Levy
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