How is everyone doing this week? It’s been a difficult last ten days or so. It started with 18″ of snow and sub-20-degree weather. In the last couple of days, it’s heated up to a balmy 25 degrees. It’s sad, but I can feel a big difference. Unfortunately, it’s getting back to the low teens for the weekend.
I wasn’t sure what to write about today, so I’m going with a mixed bag approach. Let’s get started:
Have you seen Bitcoin drop lately?
I started buying a little Bitcoin in April, 2021. It was around its peak at the time, at around $60,000. I invested $50 here and there. It was enough that I didn’t notice it, but I had hoped it would add up over time. It gradually dropped to $30,000, and I continued to buy occasionally. It really fell in June of 2022, getting around $18,000. That’s when I invested $250 a few times. Then I just let it sit.
That changed last November when it dropped from its high of around $125,000 to $90,000. I started buying once again, but in $50 and $100 increments. I bought at 85k, 82k, 78k, 75k, 72k, 67k and finally Thurday at 63k. That last one was $200.
It feels like gambling. There’s no business behind Bitcoin – no earnings or dividends to guide true investing. At this point, I’m basically putting money into the idea that it is too big to fail. There are financial companies with big stakes in Bitcoin.
Around one month ago, I wrote that TINA is back – which means There Is No Alternative. Everything in the markets was high. However, that doesn’t feel true anymore. If you are thinking about buying Bitcoin, proceed with caution.
[Update: As I’m about to post this, Bitcoin has already started to recover significantly.]
Rental Property Finally Rented
Last March, our tenant broke the lease and left town. There was a huge health issue, and they needed to be closer to the hospital. We spent a few months completely renovating it. The market in Newport, RI, is very seasonal, with many going south for the winter. We missed the popular summer months, and no one was looking or applying. This week, we finally signed a lease!
Actually Focusing on My Hobbies
One of the main reasons for this week’s article delay is that I’m enjoying my new hobbies too much. Some are things that I meant to do all last year. Since that will be part of my monthly update next week, I’ll save it for then.
Super Bowl Prediction
I used to write a really long Super Bowl prediction article when the Patriots were in it. I suspect this got really annoying for readers not from New England. I tried to make it a “bonus” article on the weekend, but I still can see how it could have rubbed people the wrong way. So I’m going to keep this fairly short.
Seattle has shown itself to be the better team all year. That’s why they are the favorites. The Patriots’ defense has been tremendous when its two stars (Christian Gonzalez and Milton Williams) are on the field. In the three playoff games, they’ve allowed only 8.6/game. Because I’m a biased homer, I’m buying into the theory that the Patriots can force NFL turnover leader Sam Darnold into one extra turnover that will be the difference. Also, it’s hard to vote against a team that has the best player at the most important position. (Drake Maye was 1.3% votes short of the MVP in the closest vote in more than two decades.)
Score: Patriots 24, Seattle 20
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