$226.24*, +$9.04 for the week.  For the year, 5.76%**.  Holding 15% cash.

18,050 Different Cryptocurrencies

The value of cryptocurrencies today is $3.75T.  The three largest cryptocurrencies are Bitcoin, Ethereum, and XRP. They make up 70% of the total value.  Leaving the bottom 18,047 different cryptocurrencies with the remaining 30% or $1.13T in value.  The total trading volume of all cryptocurrencies in the last 24 hrs. was $232B.  This reminds me of the dotcom, i.e. the tech bubble. If you were going public with a company that had some “.com” in your name or doing at least something to do with the Internet, you could go public at huge valuations.  Most of these companies vanished within a year or two. Most of the 18,050 cryptocurrencies will go to zero sometime in the future. One has to surmise that those trading these cryptocurrencies have to know that also, but it doesn’t matter as long as they are still going up. They all have to believe that they are the ones that will get out before everybody else does. When everybody believes that, you get a bubble in asset prices.  We watch from the sidelines. 

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* Weekly prices are an estimate, the month-end price is precise when the accounting review