Bitcoin Millionaire Monthly Profit January 2018
$675,281 – Last Month
$713,859 – This Month
$38,578 – Change
January was a really good month in terms of protecting my capital. BTC was down over 23% on a US dollar basis but my total balance was up 5.71%. Like last month I again continued to sell my BTC holdings for cash (at the start of January) and I am recording my cash holdings at the buy price of BTC on my wallet page. I realize this can may be a bit confusing if people are reading this site for the first time (as technically I am not holding 70.630 BTC, but $713,859 in various assets made from BTC investments), but again as this site is all about trying to make a million dollars from BTC I believe this is the best way to record it.
The total gain of $38,578 in the month of January came from four areas:
- Website earnings through banner advertisements and affiliate income.
- BTC investments in BTC gambling site bankrolls, gambling site ICO’s and Steem.
- Selling BTC’s at a higher price than the market price today.
- Negatively impacted from the decrease in price of my BTC balance.
In total the website earnings was 0.625 BTC ($6,317) for the month of January. Like last month the total revenue came from Bitcoin Gambling Reviews, Top BTC Casinos, Claim BTCs and from some bounties for ICO’s. This was again flat from last month.
In total I made 7.941 BTC ($80,260) from investing in BTC gambling bankrolls, ICO’s, and Steem. Looking at it in more detail the gambling bankrolls didn’t really make anything for the month, the Betking ICO was up on a BTC basis (as it is pegged to the USD) and the BitDice ICO was up a lot and also paid out over 0.41BTC in dividends this month (so it may turn out to be a great longer term investment).
Steem was again the stand out and I continue to be bullish on Steem long term (not just steemit but the awesome Steem apps like Dtube, Dsound and steepshot). I really think the utility of Steem long term will make it last even if the crypto bubble bursts. With around 700,000 users and some big names (I just saw Neil Strauss has been posting for over a year) using the platform it is an exciting ecosystem that could give normal social media platforms a run for their money.
BTC was still pretty high at the start of the month as I continued to sell off my BTC’s. Looking at the current price of BTC it looks to have been a good decision although looking back at the history of BTC there was never a good time to sell! Currently I have $444,965 sitting in cash from selling BTC and I have no plans to sell more at this stage. I like the fact that 44.5% of my goal of making a million dollars from BTC is already ‘in the bank.’
Drop in price of BTC
BTC was down 23.32% month on month but as I hold so little amounts of BTC directly it really didn’t have much of an impact on my account. Overall it lead to a -$47,999 impact to my balance which was more than made up for with the investment gains and site earnings.
Of course the other side to the coin is that I have such little direct exposure to BTC that any significant price gains will now have little impact to my balance. Given that I am already at 71.39% of my millionaire dollar target I still think this is the best way to play the insane volatility that comes with BTC.
I guess a lot of new people to BTC have probably taken a short term loss and might be upset. However to think it won’t punch through all time highs again would be a crazy bet and has been proven wrong for the last 9 years of BTC’s existence! So don’t be emotionally hurt if you are taking a short term loss.
Next month I want to split the site from existing BTC businesses and ICO interviews. There is such an insane amount of ICO’s going on that people seem to want to learn more about them than existing businesses. As such I have hired someone to do the interviews and find ICO’s that want to be interviewed (you think free coverage on this site would be enough to attract ICO interviews right?!)
A part from that it will be business as usual! The million dollar target is getting closer by the day 😀