GM PRO DOers! 😎
Welcome to our first PRO report of 2024 (...this one will not disappoint, I promise). 🤩
2024 is going to be a big year for those investing in crypto.
As always, I want to make sure you make the most of it.
That’s why today I’ve decided to share my exact portfolio going into this year. 👀
I’m going to share the assets I hold, where I put those assets to work and the % share across my portfolio.
This doesn’t mean that you should copy my exact portfolio, as we all have very unique financial situations and needs. However, this should give you an idea of what a well researched portfolio looks like.
My expectations for this bull run are to 5-10x my portfolio, which is wild considering I already did a 3x across my portfolio in 2023. This space is truly amazing!
For more information on how I think about setting up my portfolio, check out last month's PRO report called: How To Build Your Portfolio For The Bull Run.
Keep in mind that knowing what I hold is only one part of the story. Understanding when to sell each asset is even more important.
This is why you should never blindly follow someone else’s portfolio.
While this will be different for all of us, in next week’s PRO report I will be sharing my “When To Sell Plan” to all PRO members.
Heading into a big 2024, this should give you the foundational information you need to succeed in investing in web3.
Context for today’s report: I have an onchain portfolio as well as an offchain portfolio. My onchain portfolio is about 5x larger than my offchain one. I will share both portfolios below.
What’s not included in here is my cash and cash-like investments (treasuries), real estate, and businesses I own. These are my “hedges” in case the crypto industry collapses for whatever reason.
Ok, let’s get into it!
I will share each asset in order of largest to smallest allocation across my portfolio.
$ETH (55% of Onchain Portfolio)
My highest conviction investment by a longshot.
I believe that $ETH has the potential to become one of the most important assets in the world one day. The rest of my portfolio is compared to $ETH in terms of risk/reward.
Most of my $ETH I don’t plan to sell, however I put plenty of it to work to earn additional APY (yield) and airdrops. I have recommendations and links for you below to do the same.
Below is my current $ETH setup:
Staked ETH
58% is held in $rETH on my Ledger earning ∼4% APY
15% is held in $stETH on my Ledger earning ∼4% APY
Airdrop Farming
5.4% is held in $STONE on Manta Network earning ∼4% APY and is farming the $MANTA airdrop
If you’d like to farm this airdrop, you’ll need an invite code. Here are a few that you can use. (Hurry as there’s 1 link per user).5.4% is held in $swETH and restaked on EigenLayer, earning ∼4% APY + restaking APY (% TBD) and is farming the Swell and EigenLayer airdrop.
To use Swell and farm the airdrop, follow this link here.
To use Eignlayer, follow this link here.
P.S. Be careful of fake links on the internet, especially for apps soon to airdrop a token. I recommend using the links I share in the article to be on the safe side. Also I get referral points, so it helps me out too 🙂5.4% is held in $eETH (a liquid restaking token), earning ∼4% APY + restaking APY (% TBD) and is farming the Ether.fi and EigenLayer airdrop.
To use Ether.FI and farm the airdrop, follow this link here. (This one is much cheaper on fees as you only need to swap once)5.4% is held in $rETH and restaked on EigenLayer, earning ∼4% APY + restaking APY (% TBD) and is farming the EigenLayer airdrop.
To use Eignlayer, follow this link here.5.4% is just vanilla $ETH held on an old Trezor hardware wallet, this $ETH hasn’t been touched since I bought it for $150 in 2020!
This Cycle’s Plan for $ETH:
I don’t plan to sell any of my $ETH held onchain this cycle.
I have a decent sized position in an ETH ETF within my Tax Free Savings Account (TFSA) that I plan to convert into $USD later in the cycle for life purchases (tune into next week’s ‘When To Sell Plan’ for details).
P.S. If you don’t yet have a hardware wallet to store your assets on this cycle, grab yourself a Ledger here right now.
Seriously, don’t navigate this cycle without one! Your main goal over the next 2 years is to not F*** this up, not having a hardware wallet is the easiest way to make a mistake!
$SOL (21.5% of My Onchain Portfolio)
Solana was my 3rd highest conviction bet going into this cycle, but after its incredible run in Q4 of 2023, it has quickly become my 2nd largest holding.
I managed to buy $SOL at $20, $30, $35 and $50 so I’ve done pretty well so far, however I think it still has plenty of room to run this cycle.
$SOL is another great asset to put to work to earn yield and airdrops. Below are my recommendations and links so you can do so too:
Staked
73% is delegated staked via the Phantom wallet and backed by my Ledger, earning ∼6.87% APY
Airdrop Farming
27% is held in $jitoSOL earning ∼7% APY
50% of my $jitoSOL is lent out on MarginFI, earning an extra 0.15% APY and farming the MarginFi Airdrop. I’m also borrowing $mSOL for additional points, and lending that in Kamino Finance and Meteora.
To use Margin.Fi, follow this link here.
To use Kamino Finance, follow this link here.
To use Meteora, follow this link here.
25% of my $jitoSOL is lent out in Kamino Finance, earning an extra 0.18% APY and farming the Kamino Airdrop.
The remaining 25% is sitting on my Ledger, awaiting my next airdrop farm opportunity.
This Cycle’s Plan for $SOL:
I plan to sell a % of my $SOL during this cycle and convert into $USD for life purchases. The rest I will likely hold and continue to stake.
$BTC (10% of My Onchain Portfolio)
Bitcoin was my first investment in crypto and continues to be more of a nostalgic investment than anything else. I think it does well, but most things will outperform it this cycle.
There's a chance we get hyperbitcoinization, but I think it’s highly unlikely. Either way, I don’t think $BTC is going anywhere anytime soon so might as well hold onto some.
100% is held in an old Trezor hardware wallet. This $BTC hasn’t been touched since I bought it between $5,000 - $10,000 in 2020.
I don’t plan to sell this $BTC
$OP (1.5% of My Onchain Portfolio)
L2 tokens have yet to have their big moment and I think they will be some of the best performing assets this cycle.
Optimism is my highest conviction bet of any L2 ecosystem, with huge partners like Coinbase, Zora, Gitcoin, WorldCoin and many more building on their tech stack.
You can learn more about $OP tokenomics and economics here.
100% is held on my Ledger in cold storage.
I plan to sell this later in the cycle unless Optimism launches some form of $OP staking or there are opportunities to use $OP to farm airdrops
FYI: This is from an $OP airdrop early 2023, so 100% is profits.
$IMX (<1% of My Onchain Portfolio)
Outside of $OP, $IMX is my second highest conviction L2, though it could easily be my top.
I think web3 gaming will be huge and no tech is even remotely close to what Immutable has built. Gas-less transactions, a seamless Passport and a really interesting business model.
I’m so bullish on $IMX it’s not even funny.
I just don’t really know how to value this token or how high the market cap could go (it’s unlike every other L2 token), so understanding when to sell it will be tough.
Either way, I think it has plenty of room to run and could be one of the only technologies that grows its fundamentals and revenues during the next bear market.
You can learn more about $IMX tokenomics and economics here.
100% is held on my Ledger in cold storage
I plan to sell this later in the cycle, unless they change up how you earn by staking. Right now you have to perform some trades during each “season” to qualify for staking rewards… I simply can’t be bothered.
$ARB (<1% of My Onchain Portfolio)
Arbitrum has the most liquidity over any L2 and is also the farthest along in terms of decentralization for L2s.
They have had less adoption of their “superchain” tech as Optimism and Polygon so far, but I’m sure they will do very well too.
100% is held on my Ledger in cold storage.
I plan to sell this later in the cycle unless Arbitrum launches some form of $ARB staking or there are opportunities to use $ARB to farm airdrops
This is from an $ARB airdrop early 2023, so 100% is profits.
**If you’re thinking of buying $ARB, keep in mind that there is a big token unlock occurring in March 2024 (you can review here).
No idea if this will impact price during a bull market, but be aware.
$MATIC (<1% of My Onchain Portfolio)
Polygon has one of the best business development teams in web3, which has earned them many of the largest brand partnerships in the space.
If they can successfully transition the Polygon PoS chain to an L2 it will be huge for the economics and tokenomics of Polygon and $POL (the new token coming that will take over for $MATIC).
My main concern however is that I’m not a huge fan of the leadership at Polygon. They seem to be a bit unhinged and shady.
For that reason, I don’t hold a lot of $MATIC currently. Maybe this changes in the future, let’s see.
100% is held on my Ledger in cold storage.
I plan to sell this later in the cycle, however I may use it to stake $POL, once the new Polygon ecosystem and token goes live in Q1 2024. In this case, I may hold onto it, let’s see how this cycle goes.
$AKT (<1% of My Onchain Portfolio)
One of the first “alt tokens” I ever researched and purchased back in 2020.
Akash is the OG PRO report, a deep dive well before Web3 Academy ever existed. I only bought the thing because it had an APY of 55%, which proved to be a terrible investment last cycle as it went down 99% as a result (after riding it up like 5x).
That said, Akash turned out to create a really interesting product that is gaining PMF thanks to AI and is generating serious revenue.
Akash is a decentralized cloud and GPU network that provides much needed computing power and storage at a fraction of the price vs. traditional providers.
$AKT is up 1100% YTD so I wouldn’t go all in now, however it’s sitting below a $500M market cap.
If it continues to gain adoption, I think it has plenty of room to run this cycle. Afterall, it’s attempting to disrupt competitors like NVIDIA, Microsoft and Google…
100% is held in a KEPLR wallet and staked, earning ∼10% APY
I plan to sell 100% of this later in the cycle
$NEAR (<1% of My Onchain Portfolio)
Near is an L1 blockchain that is also pivoting into becoming a Data Availability layer for Rollups.
While I think NEAR is doing great things, I have low conviction in this bet. This is a short-medium term trade to capture some gains from the Data Availability wars that are just getting started.
It’s also a revenge trade because I sold my $TIA (Celestia) airdrop at $3 just before it ran to $14 a few weeks later… I just needed to satisfy my inner degen on this one.
100% is held on Coinbase and ready to be sold at any moment.
That covers my entire onchain portfolio.
As you may have noticed, I don’t hold many assets, as I believe that that’s a losing strategy. I hold onto assets that I understand and that I use their product.
This allows me to build conviction, understand the fundamentals and follow along. If I held 20 or 30 assets I would have no time to keep up with the tech and fundamentals of each one.
I also bought all of these early in this cycle (and/or last cycle) and plan to do little to no “”trading” throughout the bull market. I plan to ride each of these assets throughout the cycle and sell some of them along the way.
I will share more about this in my When To Sell Plan next week.
For now, let’s move over to the assets I hold offchain. These assets are held in my Tax Free Savings Account and allow me to trade in and out of them with 0 tax implications.
This part of my portfolio is the bulk of the capital that I plan to convert into dollars during this cycle.
My Offchain Portfolio
$QETH - The Ether Fund (70%)
I have a set target that I will sell most of this $ETH during this cycle with no tax implications. I’m using this for life purchases.
I will continue to dollar cost average into this during the cycle as I have a large enough onchain position that I will hold, now I’m accumulating to sell on an ongoing basis after we surpass all time highs.
$COIN - Coinbase (7%)
I managed to buy $COIN near its peak low at $38 and again around $55. This has been one of my best investments ever, outside of buying $ETH before last cycle and $SOL at $20 this year.
I will likely sell this at some point during this cycle.
For more information on $COIN as an investment, check out this PRO report.
$MARA - Marathon Digital Holdings (3%)
Marathon is a Bitcoin Mining stock that I recently purchased for a short-term trade since these stocks seemed underpriced considering a bull run ahead and Ordinals generating significant revenue to Bitcoin miners (I’m already up big in the last month from this)
I only knew about this trade because last cycle when I had no idea what I was doing I bought 2 Bitcoin miners and made multiples on that trade by accident. Sometimes it pays to just DO and get lucky I guess.
There’s likely still room left for the Bitcoin miners to run, but, of course, it was a much better buy 1-2 months ago.
$TSLA - Tesla (7%)
My highest conviction investment outside of crypto. This is a long term buy and hold investment and one I will likely continue to dollar cost average into.
I’m not going to get into the details of Tesla in this report (I may write one later), but in summary, Tesla is WAY more than a car company. They are AI, EV, Energy and Robotics all wrapped up into one company.
My bet is that Tesla will become the biggest company in the world over the next 5 years.
Other Tech Stocks - Microsoft, Google, Apple (13%)
Boring old tech… I’ve got no idea why I still own this stuff but it’s a safe bet that almost always goes up. Nothing exciting by any means though.
This is my hedge just incase crypto dies for whatever reason. 🤷
That’s a Wrap 🌯
I hope that this was helpful for you to build your own portfolio.
For ongoing updates on my portfolio as well as trade signals, make sure to join the private Web3 Academy PRO Discord channels.
I discuss everything going on in markets in real time there and you’re welcome to ask any questions you’d like there as well.
How to join the PRO Discord:
If you haven’t already, grab your PRO Pass here (make sure you’re logged in).
In Discord, scroll down to the #✅start-here channel & verify your PRO Pass by connecting your wallet
Done! You should be in. Here’s what to expect:
Market analysis
Fun facts since this call (made on Dec 22nd): $OP went from $2.5 to $4, $ARB went from $1 to $2, $MNT went from $0.58 to $0.7, while other L2s pumped as well.
Very proud of this one. 🙂
Technical analysis – I actually called the perfect bounce on $ETH with this one.
Airdrop farming strategies — After getting a $10k+ $JTO airdrop, I’m kind of addicted to farming these lol.
I think you get the point… There’s a lot of alpha being shared in our PRO-only Discord every week.
If you’re reading this, you’re a PRO member already so there’s no reason why you shouldn’t get in there already!
Do it and let’s win together! See you inside. ✌
Thanks for reading. And remember, you're strong, you’re powerful, you’re alpha! ❤
How'd you feel about our read today?
ABOUT THE AUTHOR
Kyle Reidhead
Founder of Web3 Academy and Impact3
Find him on Twitter
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