- Since June, a hamster dubbed Mr. Goxx has been trading cryptocurrency in a rigged box.
- By sprinting on a wheel and strolling through one of two tunnels, the hamster selects which cryptocurrency to buy or sell.
- As of Friday, Goxx’s crypto portfolio had returned 24% since it began trading on June 12.
- Sign up for our daily email, 10 Things Before the Opening Bell, by clicking here.
A Hamster Trading Cryptocurrencies Outperform The S&P 500
A hamster in Germany is rethinking Burton Malkiel’s view that a blindfolded monkey tossing darts at a stock ticker list in the newspaper may do just as well as a human investment specialist, as described in his book “A Random Walk Down Wall Street.”
Mr. Goxx, the live-streamed hamster, has been trading a portfolio of various cryptocurrencies on his own since June 12, and his results have been remarkable thus far. According to the @mrgoxx Twitter feed, which chronicles daily results as well as every move made by the hamster, the portfolio was up about 24% as of Friday. Over the same time span, Mr. Goxx outperforms bitcoin and the S& P 500.
The “Goxx Box,” a crypto-rigged office attached to Mr. Goxx’s larger residence, allows the hamster to undertake various workouts that subsequently execute precise cryptocurrency trades, was developed by Mr. Goxx’s carer. The hamster is free to come into its office whenever it wishes to do business.
To begin, Goxx uses the “intention wheel” to determine which of the about 30 cryptocurrencies to trade. After selecting a cryptocurrency, the hamster travels through one of two “decision tunnels” that initiate a purchase or sell trade in that coin.
Tron, Ripple’s XRP, Cardano’s ADA, and ether are among the top cryptocurrencies currently held by the hamster.
According to Protos, Goxx’s portfolio was funded with the euro equivalent of $390. According to Mr. Goxx’s anonymous caretaker and business partner, the hamster’s trades are automatically set to 20 euro increments.
The Business partner Said Protos:
“There are plans to give Mr. Goxx more control and let him intentionally pick his buy amount if the interest in his channel keeps growing”.
As of Friday afternoon, Mr. Goxx had made a profit of 77 euros. According to Protos performance data, its portfolio reached a high of about $580 in mid-September, when its performance was up nearly 50% in less than three months. However, the latest crypto sell-off has reduced the hamster’s profits.
But a profit is a profit, and Mr. Goxx likely understands that. “Mr. Goxx is happy to see that some of his investments finally pay off,” the business partner told Protos.
Source: Markets Insider
RBI’s Governor D Subbarao Speaks On How Digital Currency is Different From Cash and Much More
