Update means update
This will be yet another post where I did something stupid so you don't have to :)
Towards the end of last year I started buying cryptocurrency. I've been making regular monthly purchases since.
This is how that looks:
I was originally planning to continue this a bit longer, but decided to pull the plug today and sell for a total loss of 173,500 yen. Double ouch.
Basically the reason I decided to sell is because I don't understand the 'investment', I don't know what cryptocurrencies are worth or why, and I don't like the environmental impact they have (requiring huge amounts of electricity for mining/proof).
Of course that was also true back in January when I wrote the first post.
I also want to simplify my holdings and spend less time on my portfolio every month. Getting rid of the cryptocurrencies removes a line from my monthly spreadsheet update, and means one less bank transfer each month.
I'm planning to put the 10,000 yen a month towards my mortgage from now on. Kind of boring, but I made my first overpayment on the mortgage last month and quite enjoyed seeing the numbers go down.
This is another lesson for me on my investing journey. Previous ones have included investing in a hedge fund (2 and 20!), picking hot stocks, buying deep value (garbage) stocks, and buying dividend growth stocks. I'm a slow learner. Presumably at the end of the day I will end up investing in two or three index funds, just like all the books and blogs recommend, after having wasted a bunch of time and money :)
How about you? Anyone staying on the cryptocurrency train?