6.28.2021

Crypto thoughts

I can't tell you anything about the technology, but here's an investor's simplistic view.

- Everybody should own a little crypto, maybe 1% - 3% of your financial assets.

- Bitcoin and Ethereum are the only two legit cryptos at the moment. That could easily change in the future, but for now I'm not messing with the others.

- PayPal is the easiest way for newbies to get started buying crypto, followed by Coinbase. For exposure in IRAs and other brokerage accounts, GBTC and ETHE will work.

- When an asset is this volatile, you should be thinking dollar-cost averaging. I'm making small weekly automatic purchases in Coinbase.

- I really like the idea behind the Simplify US Equity Plus GBTC ETF (ticker: SPBC). It's the S&P plus 10% bitcoin ETF, and it rebalances quarterly, meaning you're taking advantage of the volatility and buying low, selling high.

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Milestones

I talk a lot about inflation. But today was the first time in my life I actually used a dollar bill as toilet paper.