October 22, 2021

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Cryptocurrency hamster wallet is extraordinarily successful

Cryptocurrency hamster wallet is extraordinarily successful

New York (CNN Business) – German hamster hits investors at their own game.
Since June, a hamster named Mr. Goxx is an independent wallet managed that trades cryptocurrencies from a high-tech cage called Goxx Box. Your wallet has wide range from Cryptocurrencyincluding TRON, ethereum and bitcoin.

Mr. Goxx’s trading sessions are streamed live on the Twitch platform. First, the hamster runs on a “wheel of intent”, which spins and picks a cryptocurrency. It then passes through a “buy” or “sell” tunnel, causing the purchase or sale of approximately 20 euros (23.35 USD) of the cryptocurrency.

Goxx’s human trading partner, who is supposed to be executing the deals, prefers to remain anonymous, but posts buy and sell orders on Twitter and Reddit. Hamster’s “hours of operation” and portfolio updates can be found on his Twitch and Reddit page.

In an interview with crypto site Brutus, the human behind Goxx said that cryptocurrency purchases have not yet been rewarding enough to pay for Goxx’s high-tech hosting, which includes a desk with computer monitors made of wood.

As of Saturday, the hamster’s performance is up more than 16% since it began trading in June, according to Brutus’ data, an impressive feat for anyone, and certainly for rodents. Its returns are better than Warren Buffett’s Bitcoin, S&P 500 and Berkshire Hathaway.

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Bitcoin and the S&P 500 are up about 14% and 5%, respectively, in the same period. Meanwhile, Berkshire Hathaway B shares fell 2%. Mr. Buffett may want to invest in the Wheel of Intent.

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“Mr. Jukes is pleased to see some of his investments finally paying off,” the human partner of Mr. Jukes told Brutus.

After an initial investment of just over 300 euros, or $390, Mr. Goxx made a profit of 54 euros this Sunday, or about $63.

However, that number is lower than it was in mid-September, when data from Brutus showed that the portfolio rose nearly 50%, to nearly €500 ($583.83). Bitcoin, the world’s most traded cryptocurrency, is up 41% in the same period.

Financial advisors are touting a large-scale buy-and-hold investment strategy, arguing that even respectable portfolio managers will eventually lose out to a stock-picking monkey by throwing darts at the board. Or, in this case, a hamster in a maze.

Although Mr. Goxx continues to outperform the S&P 500, investing based on the random movements of a hamster is not a sound investment strategy. Hamster accounts on Twitch and Reddit make it clear that the investments are for entertainment purposes only.