Portfolio Update - December 2023

Portfolio Summary

Here is a summary of my portfolio at the top level:

Raiz Aggressive Portfolio – $19,146.70, total return $1,218.44 (12.73% according to app)
VDHG (using VPI platform) – $97,417.17, total return $10,460.64 (7.24% including DRP)
IVV (Selfwealth) – $700.95, total return $212.72 (13.26% including DRP)
SYI (Selfwealth) – $2,267.19, total return $434.76 (7.62% including DRP)
VISM (Selfwealth) – $601.40, total return $57.34 (3.62% including DRP)
A200 (Selfwealth) – $2,157.81, total return $312.92 (6.78% including DRP)
Cryptocurrency – $73,873 (5.49% from principle)
Gold – $0
Property – $715,000.00
Redraw – $7,048.55
Mortgage – $556,097.61

A breakdown of my current asset allocation:

Australian Shares – 25.55%
Global Shares – 30.86%
Bonds – 5.64%
Fixed Income Assets – 0.29%
Gold – 0%
Cryptocurrency – 37.66%

Portfolio Total (Stock + Crypto + Gold) – $196,164.22. An increase of 8.37% compared to last month’s value ($181.003.97).

Net worth – $355,066.61

This month’s saving rate is -16.61%. Since I am taking 4 week’s break, I don’t really have much income this month, besides the partial payment that I got from my freelance work + rent income, and my spending is way out of this month, which includes:

New garden tools – while working on my garden, lots of tools were needed to perform the work, and I had to go to Bunning a couple of times. I think I have spent around $2,000 since the start of my break on the tools.
Plumbing cost – I spent $420 just to get the tap in the kitchen fixed, while the water hammer issue still exists in the laundry, the toilet, and the bathroom sink. I then spent another $100 to get the arrestor, which helped fix the water hammer issue in the laundry. I was not really happy with this at all, but I will try to do more research and fix the issue myself if possible, or else I had to call the company again, which would be more expensive.
Bills + Rate Notice – another big spending this month. I forgot about the Rate notice until I got a bill of $650.

This month’s spending has exceeded what I have estimated, with low income this month. I only got a partial payment for my freelance work so that’s something I am also not happy about. One of the reasons why I am not happy is that if a promise or a date is set, people have to follow that. I value creditability so I am always cautious when making promises to other people. Sigh, anyway it’s holiday time as well so I guess I can go easy this time then. The partial payment can help this month but my plan was to reduce the interest on my mortgage so quite upset that the interest is still growing daily now.

My income for this month is roughly around $6,800, including rent income, not much but still a good amount. The bills came and I was surprised that the monthly average was around $260, below my estimation of $300. However, we were not using much in the first month so that helped with the bill. The daily average usage of electricity is 18 kWh, for 3 people, and it’s also winter, we use heaters quite a lot. I wait for more data in the future to see the fluctuation in the bills.

For contributions, $400 for the Raiz account and $500 this month for the home loan. I don’t really make a lot this month so $500 is the most I can put, which increased my redraw account to $7.048.55. And again, since I contributed $2,000 last month the monthly payment on the variable loan did not happen, but I guess they would be deducted from my account next month since I only contributed $500 this month.

I hope I get the rest of the payment for my freelance work after the break. I am currently working on new projects for the next year. I plan to reduce my workload next year so I can focus on other things, like social. I am really lacking in my social skills and friends atm.

Note: A reminder is that this number is still an estimation only as my crypto portfolio consists of different assets, including NFTs, staking, and Defi. I have to use other tools to keep track of and maintain the value of investments to finalize the value of my portfolio. NFT is hard to estimate because of price fluctuation in the crypto market. However, estimation is still good enough in this case.

Events & Porfolio Analysis

General news

On 01/12/2023, The personal consumption expenditures (PCE) price index, excluding food and energy prices, increased by 0.2% in October, in line with expectations. On a year-over-year basis, the index rose by 3.5%, matching the consensus. The headline PCE inflation was flat for the month and registered a 3% increase over the 12-month period. Energy prices fell 2.6%, helping to offset an increase in food prices. The data may provide the Federal Reserve with additional incentive to maintain interest rates at their current levels and potentially consider rate cuts in 2024.
On 02/12/2023, Federal Reserve Chairman Jerome Powell stated that it is too early to declare victory over inflation and that the central bank plans to maintain a “restrictive” policy until convinced that inflation is on a solid path back to 2%. Powell mentioned that it would be premature to conclude that a sufficiently restrictive stance has been achieved and emphasized the Fed’s readiness to tighten policy further if necessary. While Powell acknowledged that policy is already in restrictive territory, he also noted that the balance of risks between doing too much or too little on inflation is now close to balanced. Markets interpreted Powell’s comments as leaning toward a dovish stance, leading to positive movements in major averages on Wall Street and lower Treasury yields.
On 04/12/2023, Gold prices have reached a new record, touching $2,100, as the global demand for bullion continues. Analysts predict that gold prices are likely to hit fresh highs next year and could remain above $2,000 levels. Factors such as geopolitical uncertainty, a weaker U.S. dollar, and potential interest rate cuts contribute to the positive outlook for gold. The Israel-Palestinian conflict and expectations of interest rate cuts have boosted demand for gold as a safe-haven asset. Analysts estimate that gold prices could reach up to $2,200 by the end of 2024.
On 05/12/2023, Spotify shares closed up more than 7% after the music streaming service announced a 17% reduction in its workforce, amounting to roughly 1,500 jobs. The move is part of an effort to streamline costs and adapt to a slowdown in growth. In an internal memo, Spotify CEO Daniel Ek acknowledged that the company had hired too many employees in 2020 and 2021 when capital was abundant. The layoffs are seen as a strategic move to build a more sustainable business and achieve long-term profitability and growth.
On 06/12/2023, In October, job openings in the United States declined to 8.73 million, the lowest level in 2½ years, signaling a potential shift in the tight labor market. The drop of 617,000 job openings, or 6.6%, was below the Dow Jones estimate of 9.4 million and marked the lowest level since March 2021. The ratio of job openings to available workers decreased to 1.3 to 1, a level similar to the pre-pandemic period. The Federal Reserve closely monitors the Job Openings and Labor Turnover Survey for indications of labor market conditions. The decline in job openings comes as the Fed aims to address inflation and assess its next policy moves.
On 07/12/2023, Moody’s downgraded its outlook on China’s government credit ratings from stable to negative. While it retained China’s “A1” long-term rating on sovereign bonds, the change in outlook reflects concerns over rising debt levels and the impact on overall economic growth. Moody’s expects China’s annual GDP growth to slow to 4% in 2024 and 2025, averaging 3.8% from 2026 to 2030. The move is also influenced by structural factors, including weak demographics, which are expected to drive a decline to 3.5% by 2030. The downgrade suggests increased risks related to lower medium-term economic growth and the ongoing downsizing of the property sector in China.
On 08/12/2023, The Reserve Bank of Australia (RBA) has decided to keep interest rates unchanged at 4.35% in its final decision of the year. This decision follows a 25 basis point increase at the RBA’s previous meeting in November. RBA governor Michele Bullock mentioned that the “limited information” received on the domestic economy since November has been in line with expectations. The monthly Consumer Price Index (CPI) indicator for October suggests that inflation is continuing to decrease, particularly in the goods sector, although it did not provide much information on service inflation. Bullock stated that measures of inflation expectations are consistent with the inflation target.
On 09/12/2023, In November, nonfarm payrolls in the United States grew by 199,000, surpassing expectations and exceeding the unrevised October gain of 150,000, as per the report from the Labor Department. The unemployment rate dropped to 3.7%, outperforming the forecast of 3.9%. The robust job market performance, along with an increase in the labor force participation rate to 62.8%, indicates resilience in the face of economic challenges. Additionally, the more comprehensive unemployment rate, which considers discouraged workers and those in part-time roles for economic reasons, fell to 7%. Average hourly earnings increased by 0.4% for the month and 4% from a year ago, serving as a key inflation indicator.
On 11/12/2023, China’s stocks experienced a decline after data revealed ongoing deflationary pressures in the country’s economy due to weak domestic demand. China’s November inflation figures showed a faster-than-expected decrease in consumer prices, with the consumer price index falling 0.5% year-on-year. This decline was greater than the 0.1% drop anticipated by economists and marked the fastest slide since November 2020. The producer price index fell 3% year-on-year, extending the 14th consecutive month of decline and marking the quickest decrease since August. In contrast, Japan’s stocks rose amid growing speculation that its central bank might not raise interest rates the following week.
On 12/12/2023, China’s economic concerns deepened as data showed a worsening disinflationary trend in November. Consumer prices fell at their fastest pace in three years, with the consumer price index (CPI) dropping 0.5% month-on-month and year-on-year. This raised concerns about weak consumer spending and business activity in the country. Additionally, the producer price index (PPI) remained in contraction for the fourteenth consecutive month, with PPI inflation sinking 3% year-on-year in November. The weak economic indicators prompted a decline in China’s stock market, with the CSI 300 index hitting a near five-year low. The data highlighted the need for additional measures to support economic activity in China.
Hasbro, the company behind franchises like Dungeons & Dragons and Transformers, is laying off 1,100 employees, according to an SEC filing. This comes after an earlier layoff of 800 employees in January. The CEO, Chris Cocks, mentioned in a memo that the company would focus on licensing opportunities and scaling entertainment to drive new brand development. Hasbro’s overall revenue declined 10% year over year, but the division running Wizards of the Coast (WoTC), the maker of Dungeons & Dragons and Magic: The Gathering, saw a 40% YoY revenue increase to $423.6 million, with a $203.4 million operating profit. Despite the growth in WoTC, Hasbro as a whole has faced challenges, prompting the restructuring.
On 13/12/2023, In November, the U.S. Consumer Price Index (CPI) increased by 0.1%, and the year-over-year inflation rate stood at 3.1%, according to the Labor Department. The monthly increase showed a slight pickup from the flat CPI reading in October, while the yearly rate indicated a marginal decline from the 3.2% reported a month earlier. Excluding volatile food and energy prices, the core CPI increased by 0.3% on the month and 4% from a year ago. These figures are in line with estimates and remained relatively stable compared to October. While the November numbers are above the Federal Reserve’s 2% target, they reflect ongoing progress in inflation. Policymakers typically focus on core inflation for longer-term trend analysis.
Plummeting pork prices in China, down 31.8% in November year-on-year, are contributing to deflationary pressures and raising concerns about the country’s economic health. Pork prices have a significant impact on China’s Consumer Price Index (CPI), and the decline could further exacerbate deflation risks. Deflation, characterized by decreasing prices of goods and services, can lead consumers to postpone spending, affecting economic growth. China’s CPI fell 0.5% year-on-year in November, the sharpest decline in three years, and is a worrisome sign for the economy.
On 14/12/2023, The Federal Reserve has maintained its key interest rate within the range of 5.25%-5.5% for the third consecutive time. Policymakers on the Federal Open Market Committee (FOMC) voted unanimously for this decision. Additionally, the FOMC indicated plans for multiple rate cuts in 2024, with at least three quarter-percentage point cuts anticipated. This stance reflects a shift from the previous trend of rate hikes, with 11 increases having taken place. The decision to maintain rates had been widely expected, and the Dow Jones Industrial Average saw a positive response following the announcement.
On 15/12/2023, The Bank of England has maintained its main interest rate at 5.25%, with a 6-3 vote in favor of holding rates steady for the third consecutive meeting. While UK headline inflation dropped to 4.6% in October, its lowest in two years, wage growth remains high at over 7%. The Monetary Policy Committee (MPC) indicated that monetary policy is likely to remain restrictive for an extended period, with three dissenting members favoring a further 25 basis point hike to 5.5%. The MPC also noted that key indicators of UK inflation persistence remain elevated.
In November, U.S. retail sales unexpectedly rose by 0.3%, surpassing the estimates and indicating a solid start to the holiday shopping season. This growth follows a decline of 0.2% in October. Excluding autos, retail sales increased by 0.2%, better than the anticipated stability. When excluding autos and gas, sales saw a more substantial rise of 0.6%. Despite a 2.9% drop in receipts at gas stations, likely influenced by declining energy prices, overall retail sales held up well. The positive retail sales data suggests that consumers are keeping pace with the increase in prices. On a year-over-year basis, retail sales accelerated by 4.1%, compared to a CPI rate of 3.1%.
On 16/12/2023, New York Federal Reserve President John Williams stated that rate cuts are not currently a topic of discussion for the central bank. He emphasized that the focus is on determining whether monetary policy is sufficiently restrictive to bring inflation back down to the 2% target. Williams’ comments come after the Fed’s Wednesday forecast for three rate cuts next year, leading to speculation among traders that the central bank might start cutting rates sooner than expected in 2024. However, Williams noted that it is premature to consider rate cuts at this stage and that the Fed will remain data-dependent.
Citigroup has informed most of its employees that they can work remotely during the final two weeks of December. The policy allows workers to log in remotely from anywhere in their country of employment from Monday to December 29. This applies to hybrid workers, representing the majority of Citigroup’s 240,000 employees. The move contrasts with last year when a similar perk was introduced. However, this year, employees are reportedly more concerned due to CEO Jane Fraser’s corporate reorganization, which has already led to executive departures and the closure of the municipal bond business. Citigroup’s review is expected to be complete by the end of March 2024.
Costco has reportedly found success with online sales of gold, selling over $100 million of the precious metal in its fiscal first quarter, ending on November 26. Costco’s 1-ounce gold bars are said to sell out within a few hours of being loaded onto the company’s website. The gold bars are priced at $2,069.99 per ounce on Costco’s website. Customers are limited to purchasing two bars per membership. The gold bars have received a high satisfaction rating from members on Costco’s website.
China’s central bank, the People’s Bank of China (PBOC), injected a record $112 billion into the economy through one-year loans to commercial lenders. This move is seen as part of an effort to ease concerns about cash scarcity, particularly amid a surge in government debt issuance. Additionally, there has been renewed support for the property sector, with Beijing and Shanghai relaxing home-buying curbs. This coordinated approach is aimed at providing a more substantial stimulus to the economy, especially in the context of concerns about a housing downturn.
On 18/12/2023, Former FDIC Chair Sheila Bair has expressed concerns over the market’s optimism regarding potential interest rate cuts in the coming year. Bair, who managed the FDIC during the 2008 financial crisis, criticized Federal Reserve Chair Jerome Powell for being too dovish in the recent policy meeting. She suggested that the focus should remain on inflation, expressing worry that the Fed might be shifting its attention to concerns about a recession prematurely. After the Fed’s decision to keep rates steady and the indication of potential rate cuts in 2024, the markets experienced a surge, with the Dow reaching all-time highs. However, Bair believes the market’s bullish reaction may be short-lived.
This week, 30-year fixed mortgage rates dropped below 7%, marking the first time since August. After reaching nearly 8% in late October, rates have been declining each week. The current average 30-year mortgage rate is 6.95%, according to Freddie Mac data. The drop in rates is attributed to easing inflation and expectations of interest rate cuts by the Federal Reserve in 2024. The reduced mortgage rates could make homeownership more affordable for potential buyers who were previously priced out of the market. However, rising home prices may offset the interest rate savings in some markets. The median existing home price is $413,500, a year-over-year increase of 3.4%, according to Redfin’s data.
On 19/12/2023, The Bank of Japan (BOJ) has maintained its ultra-loose monetary policy, keeping interest rates at -0.1% and sticking to its yield curve policy. The decision comes amid “high uncertainties” in the Japanese economy, and the BOJ believes that core inflation will remain above 2% throughout fiscal 2024. Despite discussions about the potential unwinding of its super-easy monetary policy, the BOJ is cautious, considering the slowing economy and cooling inflation. Analysts expect changes to be considered in the coming year, particularly after spring wage negotiations confirm a trend of meaningful wage increases.
On 20/12/2023, The Consumer Financial Protection Bureau (CFPB) has fined U.S. Bank almost $21 million for blocking access to unemployment insurance benefits during the Covid-19 pandemic. The Office of the Comptroller of the Currency imposed an additional $15 million penalty. U.S. Bank, the fifth-largest U.S. commercial bank, froze accounts of tens of thousands of consumers in 2020, suspecting fraud as unemployment surged. The bank demanded extensive paperwork for account reactivation. U.S. Bank administered prepaid debit cards through its ReliaCard program, which saw a 4000% increase in demand during the pandemic. The settlement did not require the bank to admit wrongdoing.
The Japanese government plans to raise its long-term interest rate estimate used for compiling the state budget to 1.9% for the next fiscal year, up from the current year’s 1.1%, according to sources. This move, the first in 17 years, is in response to the expectation of a near-term exit from ultra-loose monetary policy by the central bank, resulting in higher government bond yields. While this adjustment reflects the changing economic landscape, it will also increase the government’s debt financing costs. The interest rate estimate is automatically calculated based on the underlying bond yield plus a precautionary 110 basis points. The government has maintained the rate at 1.1% for seven years, but a rise could impact debt servicing costs and potentially limit policy-related spending. The assumed interest rates were 1.8% in fiscal 2013 and were gradually lowered to 1.1% in fiscal 2017.
On 21/12/2023, In November, U.K. inflation unexpectedly dropped to 3.9%, the lowest annual reading since September 2021, according to economists polled by Reuters. The consensus had projected a more modest decline to 4.4% from October’s 4.6%. The Core CPI, which excludes volatile items, came in at an annual 5.1%, below the 5.6% forecast. These larger-than-expected falls have led to increased speculation that the Bank of England may cut interest rates in 2024. Consequently, U.K. bond yields, such as the 10-year government bond, reached an eight-month low. Despite this, the FTSE 100 was the only major European stock index in positive territory, climbing 0.8%. The drop in inflation was attributed to decreases in transport, recreation and culture, and food and nonalcoholic beverages. The Bank of England maintained a hawkish tone last week, keeping the main interest rate unchanged at 5.25% and indicating a likelihood of prolonged restrictive policy.
On 22/12/2023, China has suspended tax concessions on 12 chemical compound imports from Taiwan in response to what it perceives as a violation of the Cross-Strait Economic Cooperation Framework Agreement. According to China’s Finance Ministry, Taiwan’s unilateral adoption of discriminatory measures on mainland products prompted this action. The Chinese Commerce Ministry accused Taiwan of violating World Trade Organization rules and a 2010 trade accord, extending its probe until Jan. 12, just ahead of Taiwan’s presidential and parliamentary elections. Taiwan’s Democratic Progressive Party-led government has consistently accused China of interference, either through military intimidation or influencing Taiwan’s business elite economically tied to China. China has never renounced its claim over Taiwan, which has been self-governing since the Chinese nationalist party retreated to the island in 1949.
Shares of Tencent and NetEase experienced significant declines after Beijing released draft guidelines aimed at curbing incentives leading to excessive gaming and spending. The new guidelines, issued by China’s National Press and Publication Administration, led to a sharp drop in the Hong Kong-listed shares of the two Chinese companies. Tencent fell by as much as 15.7%, reaching HK$263.60, and although it later recovered some losses, it still traded down about 12.7%. NetEase saw a more substantial decline, dropping by as much as 28% to HK$117.30 before paring losses to trade down about 20% at HK$129. This occurred amidst a broader market context with the Hang Seng Index losing 1.2% and the China Enterprises Index sliding 1.8%. Tencent and NetEase are major players in the world’s largest online gaming market.
On 23/12/2023, The core personal consumption expenditures (PCE) price index, a key inflation gauge used by the Federal Reserve, rose 0.1% in November and was up 3.2% from a year ago, according to the Commerce Department. Economists had expected respective increases of 0.1% and 3.3%. On a six-month basis, core PCE increased 1.9%, suggesting the Fed is nearing its inflation goal. Including food and energy costs, the headline PCE fell 0.1% on the month and was up 2.6% from a year ago. Despite ongoing inflation pressures, consumer expenditures rose 0.3% in November, and income increased 0.4%. The report indicates continued spending amid inflation.
Revised figures indicate that the U.K. economy contracted by 0.1% in the previous quarter, down from the initial estimate of flat growth, according to the Office for National Statistics. There was also zero growth in the preceding three months, revised from the previously calculated 0.2% growth. The U.K. is now at risk of entering a technical recession, defined as two consecutive quarters of economic contraction. Finance Minister Jeremy Hunt maintains an optimistic outlook, but analysts suggest that the U.K. has narrowly avoided a recession so far. Growing economic challenges may prompt the Bank of England to consider cutting interest rates sooner than planned. The Prime Minister’s pledge to boost the economy is now in doubt. Inflation hitting 3.9% in November has fueled speculation about a potential rate cut in the spring.
On 29/12/2023, Home prices in major U.S. metropolitan areas have risen for the ninth consecutive month, reaching a record high due to a persistent shortage of homes for sale. The S&P CoreLogic Case-Shiller 20-city house-price index increased by a seasonally adjusted 0.6% in October compared to the previous month. Over the 12 months ending in October, home prices in these major U.S. metropolitan markets rose by an average of 4.9%. The national index, a broader measure of home prices, also rose by 0.6% in October, with a 4.8% increase over the past year. Both the 20-city and national indexes have reached all-time highs. Detroit experienced the largest year-over-year home-price gains in October, with prices up 8.1%.
On 30/12/2023, the yield on the 10-year Treasury note remained little changed as investors focused on the future of the economy and monetary policy, marking the end of a significant year for bonds. The 10-year Treasury yield rose less than 2 basis points to 3.866%, while the 2-year Treasury yield decreased about 3 basis points to 4.25%. The past year saw notable movements in Treasury yields as the Federal Reserve pursued an aggressive hiking campaign, and concerns over high inflation and a potential recession affected market sentiment. As investors turn to 2024, uncertainties remain regarding when the central bank will begin implementing expected rate cuts and how many will occur. The Fed stated earlier this month that it anticipates three rate cuts next year, but some investors are hoping for additional reductions. Markets are currently pricing in the first rate cut to occur in March 2024, according to CME Group’s FedWatch tool.
On 31/12/2023, Perianne Boring, the founder and CEO of the Chamber of Digital Commerce, criticized U.S. Senator Elizabeth Warren for making false and misleading statements about cryptocurrency in an interview with Fox Business. Boring emphasized that Warren has misled the public by suggesting that crypto has an anti-money laundering (AML) problem, clarifying that the vast majority of illicit finance flows through traditional financial systems, not the cryptocurrency space. Boring also criticized Warren’s bill, the Digital Asset Anti-Money Laundering Act, stating that it was introduced under the guise of addressing a non-existent compliance gap. She argued that the bill’s requirements are technically impossible to implement in a blockchain-based environment, potentially making it illegal for U.S. persons to use the technology and harming innovation in the U.S. crypto space.

Crypto news

On 01/12/2023, MicroStrategy, a business intelligence firm, acquired 16,130 Bitcoins in November, spending approximately $593.3 million at an average price of $36,785 per Bitcoin. This brings MicroStrategy’s total Bitcoin holdings to 174,530 BTC, valued at around $6.6 billion. The company has been consistently adding Bitcoin to its treasury reserve since August 2020. The recent purchase coincided with a roughly 10% increase in Bitcoin’s price during November. MicroStrategy reported a $900 million gain on its Bitcoin holdings in the third quarter of 2023.
On 02/12/2023, Executives of Binance, the cryptocurrency exchange, reportedly informed top market makers about a potential $4.3-billion settlement with U.S. authorities at a dinner event in Singapore in September, about two months before the details were publicly disclosed. The executives allegedly conveyed that Binance could easily afford the $4.3-billion penalty to continue its operations. Although Binance CEO Changpeng “CZ” Zhao was reportedly not present at the event, Richard Teng, who succeeded Zhao following the settlement, was reportedly interacting with guests. Binance has declined to confirm the accuracy of the depiction of the VIP event. As part of the settlement, Binance is required to pay $4.3 billion to various U.S. authorities and regulators.
A federal judge has criticized the U.S. Securities and Exchange Commission (SEC) over its treatment of a crypto firm, stating concern that the agency made “materially false and misleading representations” to freeze millions of dollars in assets belonging to the project. The case involves Digital Licensing Inc., or DEBT Box, accused by the SEC of defrauding investors. The judge raised concerns about the SEC’s misrepresentations during the initial process, stating that the agency’s lawyer had made statements that turned out to be untrue, potentially deceiving the court and undermining the integrity of the proceedings.
On 03/12/2023, KyberSwap has announced a grant initiative from its treasury to compensate users affected by a recent exploit that led to a $48.8 million loss for the decentralized finance protocol. The grant aims to ease the financial burden on affected individuals, and its value will equal the USD equivalent of the assets lost in the security breach. The move is part of KyberSwap’s commitment to its user community and platform security. While specific details and criteria for the grant are being finalized, KyberSwap has promised to provide additional information within two weeks. The platform has also recovered $4.7 million of the stolen funds.
On 04/12/2023, Bitcoin crossed the $40,000 mark for the first time in 2023, reaching a 19-month high. The cryptocurrency surged over 4%, trading as high as $41,520. This is the first time since May 2022 that Bitcoin has breached the $40,000 level. The rally is attributed to anticipation of a bitcoin exchange-traded fund (ETF) approval and bets on U.S. interest rate cuts. Bitcoin is now up more than 145% since the beginning of the year. This comes amid recent scandals, including the collapse of the FTX crypto exchange in November last year. Investors are eyeing $48,000 and $52,000 as the next significant levels.
On 05/12/2023, The recent surge in Bitcoin’s price to a 20-month high at $41,130 has prompted speculation and analysis. Despite a $100 million liquidation of short Bitcoin futures in 24 hours, data indicates that the spot market, where physical Bitcoin is traded, played a more significant role in the price movement. The $200 million worth of Bitcoin futures shorts liquidated represented only 1% of total outstanding contracts. This suggests that spot market action, rather than futures markets, has been a primary driver of the recent Bitcoin rally.
IBM has unveiled its 1,121-qubit “Condor” quantum computing processor, marking the company’s largest quantum chip by qubit count and one of the world’s most advanced gate-based superconducting quantum systems. The processor is part of IBM’s roadmap, succeeding the 433-qubit “Osprey” processor and the 127-qubit “Eagle” processor. While qubit count doesn’t directly translate to power, it reflects potential, and the focus in the industry is currently on error correction and fault tolerance. IBM’s work includes increasing the number of quantum gates processors can handle, aiming to enhance the capability of quantum systems.
Crypto.com has received authorization as an Electronic Money Institution (EMI) from the UK’s Financial Conduct Authority (FCA). This authorization enables Crypto.com to offer UK-based e-money products under the FCA’s regulatory framework. The approval aligns with Crypto.com’s commitment to high consumer protection standards. The company has previously obtained licenses in various countries, including Singapore, France, South Korea, and Italy. However, in June, Crypto.com announced the winding down of its institutional services in the U.S. due to limited demand, and regulatory progress has been slower in the U.S. compared to other regions.
On 06/12/2023, The open interest in Bitcoin futures on the Chicago Mercantile Exchange (CME) has reached $5.2 billion, just $200 million short of its late October 2021 all-time high. This surge in open interest over the last 30 days, from $3.63 billion to $5.20 billion, has coincided with Bitcoin’s 26% gain, currently trading at over $44,000. The CME’s Bitcoin futures open interest spiked similarly in October 2021, aligning with Bitcoin’s drastic price jump from $45,000 to $66,000. However, the recent surge doesn’t clarify the positioning of CME traders, and the latest CME report to the Commodities Futures Trading Commission (CFTC) indicated net short positions by the “big players” on the platform.
BlackRock (BLK) has disclosed receiving $100,000 as “seed capital” for its proposed spot Bitcoin exchange-traded fund (ETF). The seed capital investor bought $100,000 worth of shares on October 27, 2023, taking delivery of 4,000 shares at a per-share price of $25.00. Seed capital represents the initial funding that enables an ETF to fund the creation units underlying the ETF, allowing shares to be offered and traded in the open market.
The United States Securities and Exchange Commission (SEC) has requested the judge in the civil case against Terraform Labs and its co-founder Do Kwon to determine whether certain crypto assets are securities rather than leaving it to a jury. In a filing, the SEC argued that the question of cryptocurrencies as securities falls under a “legal question” for the court, not a “factual question” for the jury. The SEC believes there is no dispute that Terraform Labs’ crypto asset offerings involved an investment of money in a common enterprise with an expectation of profit derived from the defendants’ efforts.
On 07/12/2023, JPMorgan Chase CEO Jamie Dimon expressed strong opposition to cryptocurrencies, including Bitcoin, during a Senate Banking Committee hearing. Dimon stated that he has always been deeply opposed to crypto and suggested that the government should ban it. He argued that the only true use case for cryptocurrencies is by criminals, including drug traffickers, engaging in money laundering and tax avoidance. This is not the first time Dimon has criticized cryptocurrencies, previously referring to Bitcoin as a “hyped-up fraud” and likening it to a “pet rock.” Despite his criticisms, JPMorgan Chase is actively involved in blockchain technology, the underlying technology for cryptocurrencies.
On 08/12/2023, the US Securities and Exchange Commission (SEC) is reportedly engaging in discussions with various issuers about the possibility of approving a Spot Bitcoin ETF. These discussions are said to be in advanced stages, focusing on key technical details. The reports suggest that regulators are warming to the idea of approving such an ETF, and anticipation for its approval is increasing.
Changpeng “CZ” Zhao, the founder of Binance, has been ordered to stay in the United States until his sentencing in February. A federal judge, Richard Jones, stated concerns about the flight risk, considering Zhao’s substantial wealth and lack of significant ties to the United States. Zhao pleaded guilty to money laundering in November and faces up to 18 months in prison. The judge emphasized that Zhao has substantial wealth and property abroad and no strong ties to the United States, making him a potential flight risk. Zhao agreed not to appeal any sentence up to 18 months.
Binance’s unit in Abu Dhabi has withdrawn its application with the Emirate’s financial regulator, the Financial Services Regulatory Authority. Binance mentioned that the decision was unrelated to its recent $4.3 billion settlement with U.S. authorities. The application, submitted by BV Investment Management in November, would have allowed Binance to manage a collective investment fund. Despite the withdrawal, Binance Limited still has permission for financial services related to crypto custody in the Abu Dhabi Global Market. The spokesperson stated that Binance plans to continue working with global regulators as part of its expansion efforts.
On 09/12/2023, In an amended Form S-1 filing, VanEck revealed that the proposed ticker symbol for its Bitcoin ETF would be “HODL.” HODL is a popular term in the crypto community that originated from a misspelled word “hold” and signifies a long-term holding strategy amid market volatility. VanEck’s move seems to be an acknowledgment of the language commonly used by retail investors in the crypto space. This isn’t the first time a firm has used a play on words for a crypto ETF ticker; Valkyrie has an application for a bitcoin futures ETF with the ticker “BTFD,” which stands for “buy the dip.”
Taiwan’s central bank has conducted a feasibility study on wholesale central bank digital currency (CBDC) and is actively considering its implementation. The bank is soliciting feedback from businesses and academics and is focused on platform design. Deputy Governor Mei-lie Chu outlined the concept of Banking 4.0, emphasizing services embedded in customers’ daily lives, which includes integrating artificial intelligence and advanced mobile and digital technology into banking. Chu also highlighted the advantages of CBDCs and the tokenization of real-world assets, emphasizing the role of a central bank currency with clearing finality in supporting tokenization. She specifically mentioned the use of unified ledger technology for achieving interoperability among systems.
On 11/12/2023, the price of Bitcoin (BTC) experienced a sudden 6.5% drop from $43,357 to as low as $40,659 within 20 minutes. Following this decline, Bitcoin briefly fell below $41,000. Ether (ETH), the second-largest cryptocurrency, also witnessed an 8.9% drop during the same time frame, falling to $2,240. The prices of other major cryptocurrencies, including Binance Coin (BNB), Ripple (XRP), and Solana (SOL), also posted losses. The sudden drop led to the liquidation of more than $270 million worth of long positions and wiped out approximately $1.2 billion in open interest on BTC, which is currently around $17.9 billion.
On 12/12/2023, Singapore and China are collaborating on a pilot project to enable tourists from both countries to spend China’s central bank digital currency, the digital yuan (e-CNY). The Monetary Authority of Singapore (MAS) and the People’s Bank of China’s Digital Currency Institute (PBCDCI) have signed a Memorandum of Understanding (MOU) on digital finance cooperation. The cross-border e-CNY pilot will allow travelers to use e-CNY for tourism spending in both Singapore and China. The initiative aims to enhance convenience for travelers when making purchases during overseas travel. China has been actively testing its e-CNY project, with ongoing pilot programs in various regions.
Massachusetts Senator Elizabeth Warren has announced that five more senators have agreed to cosponsor her Digital Asset Anti-Money Laundering Act. Senators Raphael Warnock, Laphonza Butler, Chris Van Hollen, John Hickenlooper, and Ben Ray Luján are supporting the bill, which aims to crack down on illicit uses of crypto assets for money laundering and terrorism financing. The legislation proposes measures to enhance regulation and oversight in the cryptocurrency space, reflecting a broader effort within the U.S. government to address potential risks associated with digital assets.
BlackRock has modified its application for a spot Bitcoin exchange-traded fund (ETF) to enable Wall Street banks to create new fund shares using cash instead of crypto. This in-kind redemption “prepay” model would allow major banks, such as JPMorgan or Goldman Sachs, to act as authorized participants, bypassing restrictions that prevent them from directly holding Bitcoin or crypto assets. This approach addresses the regulatory challenges faced by banks with trillion-dollar balance sheets, as they are often unable to hold Bitcoin directly. In this revised model, authorized participants would transfer cash to a broker-dealer, which converts it into Bitcoin before storage by the ETF’s custody provider (e.g., Coinbase Custody). If approved, this approach could facilitate greater involvement by major banks in the crypto space.
On 15/12/2023, The CEO of Ledger, Pascal Gauthier, addressed the recent hack in which the wallet provider’s JavaScript connector library was compromised. He described the incident as an “isolated incident” and explained that the exploit ran for less than two hours, affecting only third-party DApps. Gauthier emphasized that Ledger hardware and the Ledger Live platform were not affected, and the hack was deactivated within 40 minutes of discovery. The incident occurred after a former employee fell victim to a phishing scam, and the employee’s identity was allegedly left behind in the hacked code. Ledger plans to implement stronger security controls to enhance software supply chain security.
The token of decentralized finance protocol SafeMoon (SFM) has experienced a 31% decline in five hours after the company filed for bankruptcy. SafeMoon officially applied for Chapter 7 bankruptcy, also known as “liquidation bankruptcy,” citing its inability to pay employee wages. The cryptocurrency, which had already faced challenges, including charges by the U.S. Securities and Exchange Commission (SEC) for violating securities laws, fell from $0.000065 to $0.000045 following the news. Despite a partial rebound to $0.000061, SFM is down 98.2% from its highest price of $0.0033 on January 5, 2022, and its market cap has fallen to $34.5 million.
On 17/12/2023, Tether, the entity responsible for the stablecoin Tether (USDT), has responded to requests for intervention from U.S. lawmakers, emphasizing its commitment to combatting the illicit use of stablecoins. The company disclosed letters sent to members of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, as well as the U.S. House Financial Services Committee. The letters, dated Nov. 16 and Dec. 15, were in response to calls from Senator Cynthia Lummis and Representative French Hill in October, urging the Department of Justice (DOJ) to investigate the potential material support provided by Tether in connection to terrorism financing. The lawmakers pointed to the October 7 coordinated attack by Hamas on Israel and suggested links to illicit crypto transactions. In its response, Tether highlighted its Know Your Customer (KYC) program, transaction monitoring system, and a proactive approach to identifying suspicious accounts and activities. The company stated its intention to be a “world-class partner to the U.S.” and emphasized its commitment to ensuring compliance with regulatory standards.
On 18/12/2023, Blockstream CEO Adam Back has responded to Bitcoin core developer Luka Dashjr’s efforts to eliminate Bitcoin Ordinals. Dashjr has expressed concerns about Bitcoin Ordinals exploiting a vulnerability in Bitcoin Core and causing network congestion. Back, however, dismisses Dashjr’s plans, stating that he “can’t stop JPEGs on Bitcoin.” The term “JPEGs” likely refers to non-fungible tokens (NFTs) and other types of data stored on the Bitcoin blockchain. Dashjr’s initiative aims to fix the vulnerability before the upcoming v27 update to tackle these issues. The response underscores differing perspectives within the Bitcoin community regarding network use cases and vulnerabilities.
On 19/12/2023, BlackRock, a major investment management company, has filed an amended S-1 with the SEC for its proposed spot Bitcoin exchange-traded fund (ETF). The updated filing indicates BlackRock’s decision to exclude in-kind creations and redemptions initially, complying with the SEC’s advice. The SEC reportedly suggested companies seeking to launch Bitcoin ETFs opt for cash creations instead of in-kind creations. BlackRock had originally preferred an in-kind model, emphasizing the benefits of tax efficiency. The amended filing reveals that BlackRock aims to eventually facilitate in-kind creations, pending regulatory approval. Other firms with pending Bitcoin ETF applications have also detailed cash creations in updated SEC filings.
On 20/12/2023, The provided information discusses the introduction of the euro-backed stablecoin EURC on the Solana blockchain by Circle Internet Financial. The key points include Circle’s role as the stablecoin issuer, the integration of EURC into Solana known for its fast and cost-effective transactions, and support from various Solana-based DeFi apps. The stablecoin had already been integrated into other blockchains like Avalanche, Ethereum, and Stellar. The paragraph highlights the crucial role stablecoins play in the digital asset market, their growing market size, and their diverse applications, such as facilitating cross-border transactions and serving as a bridge between traditional and digital currencies. Circle anticipates that EURC, with its peg to the euro, will enhance utility in peer-to-peer transfers and European remittance corridors.
Jadal Page, a core developer at EthereumPOW, has announced the dissolution of the core development team. The move signals a significant step toward ETHW’s (presumably Ethereum 2.0) potential to operate independently. The decision comes after meeting technical requirements and aims for enhanced community involvement and decentralized governance. Ethereum POW will continue as the foundational consensus mechanism, ensuring stability and sustainability.
On 21/12/2023, Ripple, the cryptocurrency payment network, has achieved regulatory approval from the Central Bank of Ireland (CBI) as a virtual asset service provider (VASP). This approval allows Ripple to offer specific digital asset services in Ireland. As listed on the CBI’s VASP register, Ripple is authorized to conduct transactions on behalf of individuals or entities involving the movement of digital assets between addresses or accounts. Additionally, Ripple can provide cryptocurrency exchange services against fiat currencies, facilitate exchanges between different cryptocurrencies, and offer custody services. This regulatory milestone positions Ripple to extend its cryptocurrency services to clients within the European Economic Area, aligning with upcoming European cryptocurrency regulations, specifically the Markets in Crypto Assets Regulation (MiCA). Set to take effect by the end of 2024, MiCA aims to enhance investor protection and ensure compliance with Anti-Money Laundering laws. Other notable cryptocurrency firms on the CBI’s VASP register include Coinbase, MoonPay, Gemini exchange, and Zodia Custody.
China has surprisingly signaled a change in its stance on the digital landscape by expressing plans to encourage the development of Non-Fungible Tokens (NFTs) and decentralized applications (dApps). This shift comes despite the country’s previous criticism of cryptocurrencies. The move is in response to a proposal by Wu Jiezhuang, a member of the National Committee of the Chinese People’s Political Consultative Conference. The Chinese Ministry of Science and Technology, in collaboration with the Chinese Academy of Sciences and the China Association for Science and Technology, is examining Wu’s proposal, emphasizing the development of NFTs and dApps within the Web3 industry. Notably, this initiative is happening alongside the existing ban on digital assets in China, showcasing the government’s commitment to cultivating a robust digital ecosystem.
On 22/12/2023, Diana Mondino, Argentina’s Minister of Foreign Affairs, International Trade, and Worship, has indicated that a recent decree, titled ‘Bases for the Reconstruction of the Argentine Economy,’ legalizing the use of certain currencies in contracts and payments, applies to Bitcoin (BTC) and other cryptocurrencies. While the decree, passed on Dec. 20, doesn’t explicitly mention crypto, it includes provisions allowing debtors to pay in currencies not recognized as legal tender in Argentina. Mondino confirmed that the decree allows contracts to be settled in Bitcoin and any other cryptocurrency, as well as unconventional forms like liters of milk or steers. The decree grants individuals the freedom to choose the currency type for bonds or security deposits.
On 23/12/2023, Hong Kong is preparing to accept applications for spot crypto exchange-traded funds (ETFs), as announced by the Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority. The SFC is open to receiving applications for authorization of various funds, including Virtual Asset Spot ETFs, in addition to existing crypto futures ETFs. The SFC outlined criteria for these funds to directly invest in identical spot Virtual Asset (VA) tokens available to the Hong Kong public on SFC-licensed Virtual Asset Trading Platforms. Cryptocurrency transactions must take place through SFC-licensed crypto platforms or authorized financial institutions, with permissible in-kind and in-cash subscriptions and redemptions for SFC-authorized spot VA ETFs. Custody functions should be delegated to an SFC-licensed Virtual Asset Trading Platform or entities meeting crypto custody standards set by the HKMA.
The Central Bank of Nigeria (CBN) has reversed its previous ban on cryptocurrency transactions in the country and instructed banks to disregard its earlier directive. In a circular dated December 22, 2023, the CBN stated that global trends indicate the necessity for cryptocurrency regulation. The circular, titled ‘Circular to all Banks and other Financial Institutions Guidelines on Operations of Bank Accounts for Virtual Assets Service Providers (VASPS),’ acknowledges the need to regulate virtual assets service providers (VASPs), including cryptocurrencies and crypto assets. The decision aligns with international standards, as highlighted by the Financial Action Task Force (FATF) in 2018, which updated its recommendations to require regulation of VASPs to prevent misuse for money laundering, terrorist financing, and proliferation financing.
On 27/12/2023, Barry Silbert, the chairman of Grayscale Investments, has resigned from his position, and Mark Shifke, the chief financial officer (CFO) of Digital Currency Group (DCG), will take over as chairman from January 1, according to an SEC filing. The filing did not provide a reason for Silbert’s resignation. Grayscale Investments has an ongoing application with the Securities and Exchange Commission (SEC) to convert its Bitcoin Trust (GBTC) into a U.S. spot exchange-traded fund (ETF). The SEC has delayed decisions on various ETF applications, including Grayscale’s, and must rule on the Ark 21Shares ETF by January 10. Silbert’s DCG, which owns Grayscale, was sued by the New York Attorney General in October for allegedly defrauding investors, a charge rejected by DCG and Silbert.
On 29/12/2023, India’s Financial Intelligence Unit has issued compliance notices to nine foreign virtual digital asset service providers, including global crypto exchanges Binance, KuCoin, Huobi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global, and Bitfinex. The notices allege illegal operations and violations of Anti-Money Laundering regulations. The unit has requested the Ministry of Electronics and Information Technology to block the URLs of these companies, aiming to prevent access to their websites in the country. Digital asset providers in India, whether based within the country or offshore, must comply with specific regulatory requirements, including registration with the Financial Intelligence Unit and adherence to the Prevention of Money Laundering Act. India is currently working on a crypto regulatory framework based on international recommendations.
ARK Invest, led by Cathie Wood, has reportedly liquidated its entire remaining holdings of the Grayscale Bitcoin Trust (GBTC), worth $200 million, on December 28. The investment firm used half of the proceeds, around $100 million, to invest in the Bitcoin Futures ETF Bito. Analysts believe this move is a temporary one as ARK Invest seeks a more liquidity-rich portfolio. This recent shift makes ARK the second-largest holder of Bito. ARK Invest began offloading GBTC shares in October and also liquidated 148,885 Coinbase shares, worth $27.5 million, from its ARK Next Generation Internet ETF (ARKW).
On 30/12/2023, As the race for a spot Bitcoin exchange-traded fund (ETF) continues, several contenders submitted their final S-1 form applications on December 29, with Invesco Galaxy, Bitwise, WisdomTree, and Fidelity joining BlackRock, Van Eck, and Valkyrie. Fidelity, WisdomTree, and Invesco Galaxy announced their authorized participants in the new filings, with Invesco Galaxy waiving its fee for the first six months and the first $5 billion in assets. WisdomTree has chosen to maintain in-kind share creation and redemption despite the SEC’s urging to switch to cash. The competition has also led to a price war among the contenders. Bitwise has yet to name authorized participants but noted interest in purchasing up to $200 million in shares of the ETF. Multiple firms, including Grayscale, ARK Invest, Hashdex, Global X ETFs, and Pando Asset, have submitted S-1 applications for spot Bitcoin ETFs.

This month is definitely a gift from the stock and crypto markets. Both markets have given a high return this month, especially in the crypto market. There were lots of news but the important ones can be summarized below:

FED predicts rate cuts next year up to 3 times.
Bitcoin ETF looks like it will be ready early next year.
Interest rate stays the same in Australia, early Christmas.
Inflation has cooled down in the US.

The SP500 ended the year with a return of 24.23%, while Bitcoin with a return of 160% in 2023. These are quite impressive numbers considering we still have inflation and rate hikes. A lot of things have happened this year but we have survived and thrived even more. It’s now the time for me to review this year’s portfolio and see how far it has come from the terrible year of 2022.

Finally, the crypto portfolio sees a positive return of 5.49% from the principal. It’s been like 3 years since 2021 to see a positive return from the crypto portfolio. And I was right to DCA into Bitcoin, as most of the return comes from Bitcoin. Other altcoins also have high returns this month, after Bitcoin has rallied to $43k. I have not got any positive return yet from the altcoins but the loss from them has been reduced significantly. I can see the benefit of reducing the number of altcoins when I reallocated my portfolio in previous months, cut out the weeds, and kept the ones I could see its potential. It’s easier to keep track now with a smaller pool of coins.

Raiz’s account ends the year with a 12.73% return, while VDHG gives a return of 7.24%. Other ETFs also see a modest gain of around 1-3%. In terms of nominal value, VDHG gives the highest return ($10,460.46) because of its portfolio size. If I had contributed more, the figure would have been greater than this.

The total portfolio has increased significantly since the start of this year:

January 2023 – $136,224.54
December 2023 – $196,164.22
Total return + contributions = $59,939.68.

That’s a massive number, and I am quite happy with this. I also have a property valued at $715k as well. With the additional payments that I have made since September, the mortgage has been reduced from $565,000 to $556,097.61, a $8,902.39 reduction in the total home loan, with $7,048.55 in the redraw account. I have a decent amount in my savings account for emergencies so I should be ok for now. I also kept track of the spending on the tools and appliances when I moved in, and I have spent around $13,866.13 this year for the property, but this should be for this year only. Once everything is stable, and hopefully no more broken things in the house, we can see this number lower next year, unless I decide to work on home renovation.

I was hoping to see the portfolio of stock + crypto reach $200k before the end of this year. Still, $196,164.22 is an impressive number, with a total net worth of $355,066.61. Lots of things have happened this year, lots of sacrifices, and stressful events,… but it’s all worth it in the end. All my savings have shown great return this year, I think this is the best year I ever had since I started my investing journey. Another year went by, and a new future was waiting for me ahead.

Some of the articles I use for the information above:

Passive Income

This month has produced about 15.191 ADA. The staking reward for AXS for this month is 0.956 AXS. Staking for IMPACT is 1977.252 PACT. BAT Reward is 4.6229 BAT.

To sum up:

ADA Reward – 15.191 ADA.
AXS Staking – 0.956 AXS.
Impact Staking – 1977.252 PACT
BAT reward – 4.6229 BAT
Dividend – $668.16

What I have learnt

Keyword for this month – Break and Work

Man, for the last 3 weeks, I have used all my time to complete all the goals from last month:

Weight – I managed to get to 72 kg in one day but the weight shot up again. Though, it’s still an achievement.
Plumbing – well that does not work out so well. The plumber only fixed the tap for the kitchen sink, but the water hammer issue still existed in the laundry, the toilet, and the bathroom sink. Wasted $420.00 for nothing, and was told it would take longer to find the water hammer issue. I am currently on a tight budget atm so I didn’t want to spend more on it until I got more budget for it. To fix the issue with the washing machine causing the water hammer, I bought an arrestor and installed it on the tap. It seemed to fix the issue, but the water hammer is still the main issue due to the old house, and the pipes seem to be inside the wall, making it more difficult. I will do more research on how to fix this.
Complete freelance work – I have completed the rest of the work. Technically I still have work to do but it’s for next year, so I am ahead of my schedule. Now I am trying to find other things to work on, and thinking of doing a game by myself. My goal now is to make as much money as possible.
Buy gardening tools – I spent quite a lot of money buying tools for the garden, and it’s worth it. With the tools, I spent most of my break fixing the garden – cutting down the small trees, pruning the trees, killing the weeds, and many other things. I was able to crawl under the house after clearing up the path, which by the way was blocked by the trees. Finally, some progress for the garden this year.

A lot of progress was made before the end of this year. Though, I think I need to relax a bit more, considering I spent most of my time working in the garden and also freelancing. I realized I did not have any other hobbies besides working. Not sure if this is the state of my mind or if I am being too harsh on myself. I need to take more time to rethink this while I still have one week left for break, and probably spending less time freelancing. However, one thing for sure is that I enjoy working like this much more. I should start thinking about my career path next year if I want to work for myself or continue working in a company.

Well, today is 31/12/2023, and the new year is coming tomorrow, I hope next year is a better year for me, considering I have had a lot of challenges this year. I won’t set any goals for now, and enjoy the rest of the day. A lot of things have happened but I am still here and fighting every day.

Portfolio Update – December 2023

Portfolio Summary

Events & Porfolio Analysis

Passive Income

What I have learnt

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