What I'm Holding Through the Bear Market

Welcome to part three in the “boo the fun is over for now” series. Part one was “mistakes I made” and part two was “good decisions I made.” 

Maybe things are going to turn around and we aren’t actually entering a big recession, but who knows! Either way, I’m assuming we’re not going to have a significant amount of liquidity flowing back into the ecosystem until the money printer turns back on, the next halvening, or some other event justifies billions of dollars of new interest. And I don’t think the merge will do that. That’s a future article though. 

But assuming crypto price action is going to be quieter for the next couple years I spent the last few weeks asking myself what I’d be comfortable setting and forgetting, assuming I couldn’t touch anything for months at a time. 

So the list that I came up with are the projects which I:

1. Have good long term conviction on
2. Require zero or minimal maintenance
3. Accrue value without just printing tokens

Here’s where I landed. This is pretty much all I’m holding now. And obviously, this isn’t financial advice, I’m not a financial advisor, I’m an unemployed philosophy major who thinks blogging is a real job. Anywhooo…

ETH as stETH

The main thing I’m holding of course is ETH. I’m the most bullish on the ETH ecosystem of any that have popped up, especially now that we’re seeing some implosions and liquidity runs from the competing L1s of this cycle. All signs point to the merge going off well, it has the lion share of TVL, it’s where most of the new blockchain innovations are happening, it’s just pretty hard to argue it’s not the strongest smart contract platform that’s live right now. That doesn’t mean it won’t be IBM one day, but for now, it’s where I have the most conviction.