The one thing that crypto has taught me is that anything is possible.
Over 2 years ago I set myself the challenge to achieve a $1 million portfolio valuation by the time we see the peak of this crypto cycle which is hopefully at the end of next year. The idea or personal challenge came about after seeing my portfolio achieve $250K after only 44 months and more importantly starting from zero. At the time $1 million seemed like a big number, but 2 years on and that number seems rather inadequate with all the inflation, that number needs to be much more and only a step in the right direction.
That $250K dwindled away once the Bear market hit, but the crypto tokens remained and have subsequently grown considerably since then. My HIVE Power has grown by another 95% since then along with staking other crypto projects outside of the HIVE ecosystem. This was mainly down to the idea of diversifying risk and not having all your eggs in one basket. We know crypto projects grow in value at different speeds due to what they offer and finding crypto projects with real life use cases or services has been my main focus.
Today everyone needs as many income streams as possible due to the world economy and crypto makes a whole lot more sense right now than it did 6 years ago. Back in 2018 you were one of a few who everyone though was a little crazy to get involved in something no one quite understood and still don't. I still regard anyone getting involved now as being early and that move could be life changing.
The passive income idea I once had has since left the building and been replaced with far more ambitious targets of earning $10K monthly through crypto rewards. The original idea was 10 crypto stakes generating $25 monthly and to slowly grow those over time. Finding 10 genuine crypto projects with real life use cases is easier said than done so the idea blossomed into growing bigger stakes over the number of stakes. The $1 million challenge I have no doubts will be achieved whether it is in this cycle or the next one and possibly that figure could be far higher than expected. Doing a 10 x your portfolio value within 1 x 4 year crypto cycle seems to be a given these days so this should be the minimum growth.
Growth is slow and tedious with a prime example of this above with one of my 4 pools staked on COTI. Don't look at the 21.55% as hat is misleading and this week is actually 13.08% up from 13.01% last week. A growth in APR of only 0.07% but none the less growth and that is what is important. Currently the entire stake generates 33 COTI daily with all the various rewards valued at $125 monthly. This should increase to $150 by mid august once I can rectify a staking error on my part. I guess I am currently adding $1K monthly to my overall crypto portfolio value which is literally only 10% of the goal.
600K HBD staked would give you the $10K monthly, but I kid of doubt that the 20% APR will remain in place long term and will drop at some point. All this means is bigger stakes are required and why growth will unlock these huge targets. One step at a time is all it takes.
A far cry from the $10K monthly target and why this is a proper challenge that will only be realised once values rise through use cases. Still these numbers are being compounded continuously over time which as we know time along with consistency being the real key to achieving success. Very few people are investing $1K monthly into crypto projects and who knows what these values may be worth in the years to come.