Monthly Crypto Portfolio Update (May 2020)

The last month has continued to be quite interesting from an overall markets perspectives as the "risk-on" trade continues to be well supported and well incentivized as global equity markets basically erase the majority of their losses from the current economic weakness experienced. The amazement of watching these markets has probably taken me off the focus on my Crypto Asset portfolio although I have been patient to watch the implications of the bitcoin halving which we had last month. While some excitement prevailed, there were no surprising moves to either side except for challenging the $10k mark a couple of times.

Source

Overall, the market capitalization of the crypt asset class was up in correlation with most risky assets in the month of May. It was interesting to see how equities outperformed cryptocurrencies but it is more a factor of adoption and ease that is still prevalent in addition to the liquidity available was more likely to find its way into traditional markets. In fact, we saw how the Federal Reserve injected millions of dollars into the equity markets via investments in Corporate Debt ETFs. While not a direct flow into equities, it has made equities be in more demand with the available liquidity.

These moves in the traditional markets and it's impact to the financial system have continually made me think of how it will all be paid. I have grown more disappointed in investment opportunities in the traditional markets as yields have been substantially reduced to levels were risks are no longer being rewarded. Therefore, the thought for me personally has been to focus on storing capital and its value. This has brought me back to precious metals and of course, cryptocurrencies.

Unfortunately, with the amount of assets to choose from in the crypto market, it becomes more difficult to select the best places to store capital. I have continued to allocate most of my new money into the DAI stablecoin as I look for more research to diversify my portfolio. The first view is that I will start distributing some funds into holdings I already have like Ether, Dash, EOS and others that seem attractive still. I also believe that a number of ERC-20 tokens have come back into the spotlight which could lead to some interest from investors.

This had made my portfolio to continue to be somewhat boring although it continues to grow in value as I add to it through my monthly transfers in addition to positive performance. While the asset class is still immature, it seems that it is in a great spot to attract more investors as technology continues to lead the economy out of its crisis. I continue to find myself making traditional transactions while thinking how much easier they could be with Blockchain and Cryptocurrencies. Some same that Bitcoin was born from the last crisis so it will be interesting to see if adoption comes from this one!

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