#7 Coin of the Week: USDC

| Investments | 2 seen

I keep growing the Terramatris crypto hedge fund bit after bit by selling put options on Ethereum.

Every week we choose one crypto coin and invest all premium in it. In the last weeks, we have already invested in XLM, ETH, USDC, and BTC. I have decided to stick with these 4 tickers until we grow the portfolio to at least 0.1 ETH or 0.01 BTC, thus enabling covered call writing on these positions.

On week 7th, we are returning to USDC coin - every time we are going to take options premiums this week (October 2  -  October 8 ), we will re-invest the premium back in ETH coin for our long-term crypto portfolio.

Ethereum is a decentralized blockchain with smart contract functionality. Ether is the native cryptocurrency of the platform. Among cryptocurrencies, ether is second only to bitcoin in market capitalization. It is open-source software. Ethereum was conceived in 2013 by programmer Vitalik Buterin.

As of October 2023, we are holding 4.44 USDC worth $4.44. In total USDC takes about 5.51% of our total crypto portfolio. Looking to grow our USDc holdings to about $15 by the end of the week.