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Alts are getting REKT! Swapping OmiseGO to bitcoin
By The Babylonians  •  September 6, 2019

This post is going to be brief.

I converted ALL 200 units of OMG into BTC a few days back. (I wish I had made this move earlier) OMG takes up the largest pie (13%) of my crypto portfolio. The average cost of OMG is around US$7.33 and it is now trading at around US$1.06. Ouch…

If you have read my earlier posts, I am currently in the process of converting alts into BTC so that I can have a more balanced portfolio, within crypto. It used to be 0% BTC, 100% Alts. Then it became 6% BTC and 25% BTC and after I sold my OmiseGO, it is now 34%.

Previous Allocation 1 Previous Allocation 2 Current Allocation

The reasons for converting OMG into BTC are as follows:

Bakkt testing bitcoin Futures Contract Launching of bitcoin ETF soon (VanEck & SolidX) Awaiting approval of bitcoin ETF from SEC Institution interest...
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By The Babylonians
The Babylonians is a personal financial blog inspired by a book titled “The Richest Man in Babylon”. This blog shares insightful and educational content on investing across 3 asset classes: Stocks, REITs and Crypto. The motivation behind The Babylonians is to help the average Joe (using myself as a test subject) escape from the rat race through following certain laws and principles of wealth.
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