Welcome to the weekly SPI Report
Each Sunday, @spinvest uploads an earnings and holdings report to keep investors up to date with fund performance and news. You can subscribe to these weekly reports in the comments.
SPI is the flagship growth token for the SPinvest fund. Launched in June 2019. SPI tokens act as both a token of ownership and a governance token. Since launch, we've been able to 7x the HIVE value (including revaluations and token split) and 12x the dollar value of the fund.
We are now in our 5th year of operation and still going strong as we stick to our plan of investing the bulk of our holdings into time-served investments and HODL.
Our motto is = Getting Rich Slow
In our expansive portfolio, we are involved in over 30 investments, with a significant portion dedicated to HIVE, BTC, and ETH. We firmly believe in avoiding impulsive actions driven by the fear of missing out or chasing unattainable aspirations. Instead, we rely on tried and tested strategies that have proven to be the most effective and secure.
Our guiding principle is to accumulate wealth steadily, adhering to the philosophy of "Get rich slowly." We employ the power of compounding by consistently reinvesting in sound opportunities to amplify our returns over time.
When considering SPI tokens, it is essential to adopt a long-term perspective, aiming to hold them for a minimum of 3-5 years. Our rationale behind this recommendation lies in the belief that substantial returns require patience and allowing investments to mature organically. By committing to an extended investment horizon, you significantly increase the probability of maximizing your potential gains. This aligns perfectly with our overall investment philosophy and strategy, ensuring sustainable growth and profitability in the long run.
HIVE income this week are the same as last week. I see that leo.voter is now paying out a 22% APY if delegators are willing to receive LEO as staked instead of liquid. We have around 30k delegated so its worth considering for us, we earned roughly 420 LEO this week from leo.voter, this could be over 600 of we received them as staked. The only problem with that is SPI sells its LEO each week to pay for things and switching over rewards would require waiting 4 weeks to start an unstake from LEO so we're getting the full amount each week. I'll need to think about it, it would result in a drop in weekly income for 4 weeks by around 50-70 HIVE.
Our HIVE wallets are doing there thing, HIVE went up a cent this week so our HBD is worth less. I am hoping next week we will see the HP balance flat line to increasing each week as eds-vote has started a bigger powerdown. It's been dropping since the start of the year, as shown in the chart above. It looks worse than it is because the range is only 2000 HP over 39 week. EDS loses a little HP each week because it currently mints more EDS tokens that it has to back with HP than it powers up. This will flip over at some point because EDS tokens are hardcapped but earning potential from HP is not.
HIVE wallets are doing ok.
Things have been going down with our HE holding for a few months already. We are sitting on profit for everything except GMLSPA tokens but it's not been great the past few months. I wrote a post 2 days back about PWR and you will see this added into our stack soon but for now, im currently working on building an LP token for it first and then we'll stack PWR.
Apart from all that, not much happening. ALPHA splinterlands pack token dropped a bunch this week, 50%. No biggie, this happens sometimes and it'll be back up to 300 HIVE a pack next week maybe.
Our non-HIVE holdings have been doing really well for us. BTC is up to nearly $48k, ETH is at $2.5k and RUNE jumped 15%. You can see from the above charts that our non-HIVE assets have been performing well against HIVE and acting as an excellent hedge for us.
The BTC to HIVE ratio has increased again this week and as predicted last week, BTC is now SPI's single biggest holding. 1 BTC is worth 152k HIVE and we are getting closer to our 200k target to swap out BTC into HIVE. I still think this is months off but when it happens, SPI will have over 350k HP in its account.
Our non-HIVE holdings have done well for us this week.
We finished the week up and it was a special week because we finished up in both HIVE and dollar terms. This does not happen that often and normally HIVE is up and dollar value is down are vice versa.
We are 3/4 through the year at week 39 and currently hitting projected growth for the year of 20%. This week we saw a fund increase of 1.28% bringing us to +21.15% YTD. If we can keep this up, I'd be very happy but I think we could hit 25-30% this year.
HIVE income is not great and I understand the dividend % is rubbish but good things come to those who wait. We'll have 100k HBD someday in around 2 years and we'll give the dividends a nice boost from the interest earned. It's okay to roll your eyes, I've been saying this for a long time already. Sadly, market cycles take 4 years, anyone got a fast-forward 18 months pill?
In other news, I just remembered about the presale for the new Solana phone I got us into and no change in status. There are 3 presales and we are still on the first so we have some time to wait. I checked cause I wondered if the price would increase or not, we paid a $450 deposit and I want to know if the next presale stage is more are the same. This is not the total price, we will have to pay the rest when they decide how much they will sell it for. If this all sounds strange, it is strange but only in crypto I guess. I mean if Apple were to take money from people for pre-orders for a phone that was not planned to be launched for over a year, people would think that weird. But it's crypto so we take a shot and maybe we get some cool airdrops, if not we have a dedicated SPI phone. We could set up SMS support or have a "WhatsApp" group. We could have that now but I dont have WhatsApp on my phone and im not really willing to download it, to be honest.
Things are going well as always, no drama and no worries. Thank you for taking the time to read this week's report. Dividends will go out this evening and have a great week.
Links to all projects under SPinvest
| Token Name | Main Account | Link to hive-engine |
|---|---|---|
| SPI token | @spinvest | SPI |
| LBI token | @lbi-token | LBI |
| Top XV token | @spinvest | XV |
| Eddie Earners | @eddie-earner | EDS |
| EDS mini miners | @eddie-earner | EDSM |
| EDS micro miners | @eddie-earner | EDSMM |
| DAB | @dailydab | DAB |
| DBOND | @dailydab | DBOND |
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