Crypto: Time to Mourn or Time to Celebrate?

by Mihail Semertzidis of ICONOMI’s BMC and GMC Digital Portfolios

ICONOMI
ICONOMI
Dec 27, 2018 · 3 min read

Due to persistent market corrections and volatility, we can all get emotional with our investment decisions. Below, ICONOMI Expert Mihail Semertzidis shares his thoughts and feelings on managing one of the top-performing Digital Portfolios of the past month, Bluechip Macro Crypto (BMC). Mihail also manages Global Macro Crypto (GMC).

Over the past four months, discussion about the end of cryptocurrencies trended significantly. For the layman, it was the end; for the knowledgeable, however, it was only another challenging day on the investment battlefield.

I am not sure what the exact phraseology was when the barter (swap) economy was replaced by gold and silver coins, nor when these prepared the context for banknotes. But I am very sure that in that dispute, evolution eventually won, and this will be the case in our time as well.

Having warmed up with this historical (per se) introduction and established that crypto is here to stay, we ask the following:

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“So many cryptocurrencies, so many options. I am not an expert, but I want to invest. Where’s my banker, my financial advisor, in crypto?”

BMC has been quite successful over the past months despite the significant nervousness in the market. This is for two reasons, one technical and one sentimental.

BMC essentially invests in protocols like WAVES and Ethereum. It is quite strong and solid, as it’s one of the ICONOMI Digital Portfolios that is hedged with TUSD (the other is GMC, also managed by us). That is to say, it has moderate risk and high performance objectives. In other (less sexy) words, it’s structured so that a thin balance is maintained between safety in market lows and good returns in market highs.

This is where the sentiment comes from to seal the deal. Would you buy a newly built house from an architect who did not build his own? Would you buy your fresh fish from a fishmonger who buys fish for his consumption from the supermarket? The hairdresser is the only one you can excuse having his haircut done by a competitor, as I can accept that self-hairdressing in the mirror is quite challenging.

Similarly, the manager of BMC (that is, me, myself, and I) owns a good amount of the Digital Portfolio, which means we have skin in the game. One can see BMC as a crypto retail store; the owner cares about what he owns, which — surprise, surprise — is what you (a potential future investor) own as well: BMC. It is good to hold BMC together through some smooth downs and exciting ups.

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