Singularity Fund — Weekly report #22
Weekly report from October 24 to October 31
Net Asset Value and Performance of the fund
NAV on October 31= $16.67
Performance from October 24 to October 31= -7.24%
Performance from May 31 to October 31= 171.32%
BTC (Bitcoin) price is surging to new ATH (All Time High) almost every day, with most of the other cryptoassets in the red. The takeoff of BTC can be explained by two factors:
- News about CME launching Bitcoin futures. CME is the largest options and futures exchange in the world. Bitcoin Futures may be the missing piece to allow institutional investors entering into the cryptoassets market. This drives a lot of speculation, because if institutional investors begin investing in BTC, we will see a huge inflow of new money entering into the market.
- Segwit2x fork, planned on November 16.The reason the anticipation of the fork is driving prices up, is that after the fork Bitcoins will be available on both blockchains (legacy and new Segwit2x), giving the incentive of accumulating BTC to get “free money”.
Although in the short term this surge of BTC price is impacting negatively the other cryptoassets, the effects on medium/long term are going to be extremely positive. Indeed, BTC is the gateway of the crypto market: new investors begin investing in BTC before diversifying and investing in other cryptoassets. The short term winner is BTC, but the long term winner is the crypto market as a whole.
The impacts on the Singularity Fund are negative on the short term, however we are confident our strategy will rapidly pay off. We are currently increasing most of our positions, using the profits made with the rise of BTC price to buy excellent cryptoassets at a bargain price.
Fund Composition on October 31
BTC 21.03%
ETH 18.88%
IOT 2.67%
NEO 9.21%
LINK 7.71%
OMG 8.00%
ZRX 11.48%
CND 2.39%
XRL 4.25%
SAN 1.01%
NMR 2.76%
CVC 4.58%
ENJ 2.61%
Dmarket 1.60%
SNM 0.73%
BNT 0.30%
TKN 0.79%
USD 0.00%
Singularity Fund links
Website: http://singularityfund.io/
Blog: https://medium.com/singularity-fund
Telegram: https://t.me/SingularityFund
NAV (Net Asset Value): https://docs.google.com/spreadsheets/d/1iHqMjI1UfbzYePLZARHCfWcKoXRpZgW938OIHmcG-Kg
We also recommend reading our Performance Analysis report, where we compare the performance of the Singularity Fund to the performance of three benchmarks: Bitcoin, Ether, and CRIX (crypto index).
