Birds of a Feather
10.03.202500:08
Not in a hurry to bid here - as mentioned previously 75k is the only level of interest to me for now ~
07.03.202523:28
GM - long ENA short ETH hedges working out but I’ve taken off the ETH short properly today. As expected the Summit provided no new info and market sold off.
Keeping ENA swing long for now given the strength.
Keeping ENA swing long for now given the strength.
07.03.202502:41
Why I skew short after reading the announcement is because to me it seems like Trump has accomplished whatever he set out to do pre-election. This EO marks the end of his promises to his pro-crypto voters as he has delivered what was originally promised.
There is very little incentive left for him to continue taking aggressive measures to enact pro-crypto policy. If you watch the video of him signing the EO, he's barely keeping up with what's going on and is heavily relying on Sacks on this + almost forgetting he promised it. To me this basically shows us how far down the priority list crypto is for the POTUS (and for good reason).
I don't expect further good news to come from the Summit tonight.
There is very little incentive left for him to continue taking aggressive measures to enact pro-crypto policy. If you watch the video of him signing the EO, he's barely keeping up with what's going on and is heavily relying on Sacks on this + almost forgetting he promised it. To me this basically shows us how far down the priority list crypto is for the POTUS (and for good reason).
I don't expect further good news to come from the Summit tonight.
09.03.202509:34
There’s been some debate on which utility / DeFi coins are worth buying from a HTF value perspective. IMO we’ve made quite considerable progress via regulatory relief over the past few years, but still have some ways to go before this is a viable investment strategy.
The three components I need to see in order commit capital from a value investing mindset is as follows:
1. Absolute certainty that tokenholders are the top priority (or at least pari passu to equity holders) from the team’s POV. There is no reality in which I will ape tokens for value when equity holders are receiving benefits that tokenholders do not get. This doesn’t necessarily mean that tokenholders NEED direct token utility today (buybacks / dividends etc), but clear and consistent messaging from the team that tokenholders are ultimate beneficiaries is absolutely required.
2. A business model that doesn’t directly rely on the speculative Ouroboros that crypto is famous for. This is where many ‘fundamental’ investment bros fall into the trap, because trading volumes can fall 90% and then another 90% in bear markets making any PE or PS values irrelevant. Also annualizing revenues from a protocol that had ‘good’ one month numbers when protocol mindshare + momentum is at its highest is the most autistic thing one can do.
3. Belief in management’s ability to execute. Like every business, you need to undertake due diligence and believe why the team behind the protocol is able to execute on its vision to beat out competitors either via technical moats or via executional prowess.
So far I think only a handful of protocols fit this criteria and I’ll be looking to pick these up when the time is right. But for 99.9% of other tokens out there, it’s the gulags you go.
Some ramblings from a 🕊️
The three components I need to see in order commit capital from a value investing mindset is as follows:
1. Absolute certainty that tokenholders are the top priority (or at least pari passu to equity holders) from the team’s POV. There is no reality in which I will ape tokens for value when equity holders are receiving benefits that tokenholders do not get. This doesn’t necessarily mean that tokenholders NEED direct token utility today (buybacks / dividends etc), but clear and consistent messaging from the team that tokenholders are ultimate beneficiaries is absolutely required.
2. A business model that doesn’t directly rely on the speculative Ouroboros that crypto is famous for. This is where many ‘fundamental’ investment bros fall into the trap, because trading volumes can fall 90% and then another 90% in bear markets making any PE or PS values irrelevant. Also annualizing revenues from a protocol that had ‘good’ one month numbers when protocol mindshare + momentum is at its highest is the most autistic thing one can do.
3. Belief in management’s ability to execute. Like every business, you need to undertake due diligence and believe why the team behind the protocol is able to execute on its vision to beat out competitors either via technical moats or via executional prowess.
So far I think only a handful of protocols fit this criteria and I’ll be looking to pick these up when the time is right. But for 99.9% of other tokens out there, it’s the gulags you go.
Some ramblings from a 🕊️
Кайра бөлүшүлгөн:
方程式新闻 BWEnews
07.03.202516:15
AggrNews: ADA, SOL, XRP ONLY MENTIONED BECAUSE THEY ARE TOP 5 CRYPTOCURRENCIES BY MARKETCAP: DAVID SACKS
AggrNews: ADA、SOL、XRP 之所以被提及，是因为它们是市值排名前五的加密货币：DAVID SACKS
————————————
2025-03-08 00:10:02
AggrNews: ADA、SOL、XRP 之所以被提及，是因为它们是市值排名前五的加密货币：DAVID SACKS
————————————
2025-03-08 00:10:02
07.03.202502:25
Put on an ETH short @2170 - confused as to why the nuke down was dalai'd by market but taking the opp for it now that it's much more unlikely we get best case scenario announcements coming out later today.
Base case is ETH eventually gives out below 2k but this is a scalp for now.
Base case is ETH eventually gives out below 2k but this is a scalp for now.
07.03.202506:41
Trimmed this to size down.
07.03.202500:43
09.03.202502:49
Excellent analysis from the WH crypto summit
07.03.202503:48
HTF levels for ETH if we lose it 1.5k comes quick ~
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