Bitcoin Millionaire Monthly Profit March 2018
$660,915 – Last Month
$606,315 – This Month
-$54,600 – Change
March 2018 has been the worst month for Bitcoin and cryptocurrencies since I started Bitcoin Millionaire in early 2017. Bitcoin has dropped 34.73% on a US dollar basis since my last profit report and the rest of the crypto market has dropped by a larger number still. So I am very lucky to see my portfolio only drop by 8.26% on a USD basis this month which was largely due to the large cash holdings I currently have and some alt coins I own bucking the downward trend.
Given that my cash holdings are rather big and the crypto-market is taking such big loses I may start converting some back to Bitcoin and then make some token purchases. In particular some of the gambling tokens, Binance Coin and Money Token are looking appealing to me. I did buy more (or some for the first time) of these tokens this month already with site earnings but will likely do with cash -> BTC -> Various Tokens in the months ahead.
As much as I love Bitcoin I always say in these reports I have no idea where the Bitcoin price will go. As such investing in the tokens in Bitcoin businesses making millions of dollars in profit have a better chance of getting me to my million dollar target in my opinion. Time will tell and it will all be published on this site for you to see 🙂
The total loss of $54,600 in the month of March really came from two big areas; the Bitcoin price drop and two token investments. More specifically the two biggest investments losses were in BitDice and Steem, that combined lost $54,617. Regardless of their monthly loss I think the future looks bright for both of those investments.
In total the website earnings were 0.56 BTC ($3,885) for the month of March. This is down again month on month as Bitcoin Gambling Reviews income dropped and Bitcoin Millionaire site income was down. More specifically on Bitcoin Millionaire I took down the pop up advertisements as they were really getting in the way of reading the content. As such I lost that income but hopefully the subscriber list for the site gets bigger for doing that.
On a BTC basis my investments were actually up 2.439 BTC that was mainly due to the BetKing tokens being essentially pegged to the US dollar. The massive drop in Bitcoin this month and my now over 1 million BKB tokens (which puts me as the 8th biggest share holder according to Etherscan) mean that the BKB investment is up over 5.291 BTC this month.
Interestingly there was a nice relatively short term arbitrage trade with BKB tokens this month. Long story short 10% of BKB tokens are bought back at the end of every quarter at the initial launch price ($0.0928 USD each) plus all the site earnings in various coins (Bitcoin, Etheruem, Litecoin, etc etc). Basically that means if you can buy tokens to a discount of $0.0928 each then you are likely going to make a profit regardless of whether the site makes money or not. So when BKB tokens were trading for more than a 30% discount to that price (on the HitBTC exchange) I started buying more.
Now that I have a large investment in BetKing I have been watching the progress of the site even further. Particularly the addition of Bitcoin Poker to the site got my interest. So I got a video for BetKing Poker made for Bitcoin Gambling Reviews to try and promote it further:
Aside from the BetKing token I bought some Binance Coins which seemed an obvious choice given how much I like the exchange and the trading discount I get for holding Binance Coins. If you want to learn more about Binance read the blog post I did on it below:
I also bought some Money Tokens in the presale (which is still on going) as I have decided I will buy a small amount of at least one new ICO every month. Given that I really liked lending Bitcoins on Poloniex when it was profitable I was pretty impressed by what this ICO could turn into. If you want to learn more about Money Token click here.
Finally I bought some Etheroll tokens, that I have been watching for a long time now but always thought it was insanely over priced given the earnings on the site. Now that it has dropped to around 15% of its all time high and the site is still running well and getting a lot of players, I decided to also buy some of their tokens. Again it is a gambling token that pays out quarterly dividends which I like!
Price decrease of BTC
Just like last month I have very little holdings directly in BTC (most holdings are in alt coins or cash currently) so a change in the price of BTC has very little impact on my BTC holdings. However a crash in the BTC price does make the other tokens crash as well, and this I like. If a business makes the same profits but the market says the company is now trading at a cheaper value I naturally get really excited. How can you not get excited buying great things at a cheap price 😀
So where do I think the market is going next month? Hopefully lower so these tokens get cheaper again!
Still working on changing the site to add ICO’s but it is taking me way longer than I had originally planned (I guess I have underestimated how long much work was involved). Fingers crossed that is done this month!
I was planning on adding my Bitcoin Faucet to Bitcoin Millionaire so I would be able to monetize the faucet with google ads (as they ban only faucets currently), but google came out saying they were banning ads on all crypto sites so I won’t be doing that now. I will have to work out what to do with the Faucet as it has over 1000 active users and is basically losing money, so if I can’t find a decent advertising alternative to google I may need to shut it down 🙁 That would be a shame as I suspect all the Venezuelans (who seem to be the biggest users of my faucet) really need the BTC it has been paying out to them..
Have you found any interesting upcoming ICO’s you want me to interview or have a look at? Let me know in the comments below 🙂