Dear Member,
Our latest pick, Haven Protocol (XHV), continues to perform well. It’s now up 39% since our initial recommendation and is up 19% today.
Today’s move appears to be based on a new announcement that Haven Protocol will offer the ability to convert XHV to stablecoins based on multiple different fiat currencies.
It had already announced that users will be able to convert XHV to a dollar-based stablecoin (XHVD). But it has plans to allow users to convert XHV into stablecoins backed by the euro and the Swiss franc.
The Haven team also announced that the dollar-based version of their stablecoin will now trade under ticker XUSD instead of XHVD. I think it’s a solid move.
I’m actively looking for more very early opportunities like XHV, which is still tiny at just a $13.5 million market cap. Quality projects are few and far between at this level, but they are out there. Now it’s a matter of weeding through hundreds of projects to find a few potential gems. I’m on it.
Financial Times Highlights Draper Esprit’s Growth
Draper Esprit (LON: GROW), our publicly traded venture capital fund recommendation, continues to perform extremely well in a tough market. The fund recently earned some positive coverage from Financial Times, highlighting its strong performance.
| The gross value of its portfolio more than doubled during the year to March and even excluding new investments and realizations, it was up two-thirds. A 115 million pounds sterling placing in May has significantly strengthened the cash coffers. |
This fund continues to offer one of the most compelling growth stories on world markets. It’s the best way I know of to gain access to Europe’s fastest-growing private startups. Plus, you get exposure to Draper’s investment in Ledger, one of the hottest crypto companies on the planet.
As I’ve said before, Draper Esprit is the closest thing I’ve found to a “modern Berkshire Hathaway.” It’s a great investment to tuck away in a Roth retirement account, where the frequent capital gains events will be inconsequential.
You can read the original recommendation here. In addition to its London stock market listing, Draper Esprit is now traded on U.S. OTC markets, which makes it easier for American investors to buy. The ticker is GRWXF.
Crypto Market Update
The crypto market remains relatively steady in a chaotic financial world.
I continue to believe we’re likely near bottom, and buyers appear to be stepping in strongly around these levels. Bitcoin has been especially solid recently, as we have been expecting. Our other positions have held relatively steady over the last few weeks, and I’m hopeful that this consolidation could propel altcoins back onto their bullish trajectory soon.
Outside of bitcoin, I continue to look for altcoins with a unique value proposition and plenty of upside (like XHV).
Times like these represent the more boring side of crypto investing, but there are certainly worse situations to be in. Now is a time to add to core positions, like bitcoin, and make smaller, speculative bets on promising projects. We’ll continue to help you do just that.
Good investing,
Adam