ApeCoin Update - Back to Hedged

Crypto

Having capitalized on this month’s upswing in crypto, I’ve restored a full hedge on ApeCoin.

ApeCoin was my inaugural theme in One And Done, which along with other crypto suggestions went far higher not long after.

By early April in “Crypto Turtling Time” I turned bearish, predicting:

Many, or most, in crypto can’t imagine their favourite token trading 70-90% lower this year, if ever. I’ve seen an estimate from well-known persons in the space placing a “0.1% chance” on a 33% drop. Nonsense. A 70-90% drop has very high odds: 50/50.

That happened, and will happen again.

After removing the ApeCoin hedge last week at $1.11, it already bounced as much as 34% higher, and I’ve restored that hedge now at $1.38, so my effective locked-in price becomes $4.47 with very considerable staking rewards during the year being free and clear.

Staking rewards will continue to be converted to gold or cash so, while most have seen massive losses in this token, I’m far ahead and can’t lose.

If it goes higher, the staking rewards are worth more so I accumulate more real assets with those proceeds.

If it goes lower I’ve got a huge profit locked in while still accumulating real wealth with the proceeds, without any worries about what the SEC might do about crypto.