Greetings, TerraMatris community! This is Reinis Fischer, CEO and Founder of TerraMatris Crypto Hedge Fund, bringing you the latest updates from the heart of Goa, India, on December 28th, 2023. Join me as we delve into the highlights of Week 19 and explore the strategies, achievements, and future prospects of our hedge fund.
This week has been exceptional as I operate TerraMatris from the serene surroundings of Goa, India, specifically from the picturesque Palolem Resort. Despite the change in location, our hedge fund has continued its successful operations, showcasing the flexibility of our decentralized approach.
Over the past 19 weeks, our primary trading strategy involved selling one-day-to-expiry put options on Ethereum and Bitcoin. However, in recent weeks, we've made a strategic shift to focus solely on Bitcoin. The premiums obtained are reinvested back into crypto, emphasizing our commitment to dollar-cost averaging across four key coins: Bitcoin, Ethereum, Stellar Lumen, and USDC Stablecoin.
Ensuring the safety of our investments is paramount. While we strive for super high-probability trades, the volatile nature of the market necessitates robust risk management strategies. These include rolling forward for credit, buying longer-term put options, and considering hedges with futures and stop losses.
For Week 19, our daily target was to achieve a $3.8 USD return from options premium, with a focus on reinvesting in USDC stable coin. While this may seem modest in the financial realm, it's worth noting the significant impact, especially when compared to the economic landscape of India. As of December 28th, 2023, we've reached an all-time high of $380 , representing a week-over-week gross increase of 12%, totaling $40.85.
Examining the market trends, Bitcoin hovers around $43,500, with Ethereum at $2,400. We are closely monitoring support levels, particularly at $40,000 for Bitcoin. The market remains in consolidation mode, with potential movements to $47,000-$48,000. Despite the volatility, we approach our moves with caution and precision.
For those interested in joining the TerraMatris journey, consider investing in TerraM tokens. These SOL blockchain-based tokens, available on the Raydium Network, can be swapped for USDC. Currently, there are 121 TerraM tokens available for investment, with an average buying price of $1.08. For detailed instructions, check the description for relevant links.
Swap USDC for TerraM on Raydium
As we wrap up this week's update, I appreciate your continued support. Feel free to reach out with any questions or if you're interested in the TerraM token. Investing in TerraMatris is not just about financial gains; it's an opportunity to be part of a community shaping the future of crypto investments. Until next week, stay tuned, and thank you for being part of the TerraMatris family.