Update - April 26, 2022

Crushing the Market: This One Continues to Soar

It’s one of the hottest assets on the planet… and it’s in our portfolio.

Monero (XMR) has gone up 25% in the past month.

It’s gone up 80% since February.

And it’s gone up more than 170% since we first got into the privacy coin.

It’s no surprise that it’s the best-performing asset in our portfolio right now. [Our next-best play is infrastructure giant KBR (KBR). It’s up 140%.]

What’s great about Monero – other than the huge gains – is that it is moving counter to not just the stock market but also the overall crypto market.

That’s huge.

While Bitcoin has gone down nearly 20% over the past month, Monero has surged.

There is something interesting behind the move.

Fighting the Power

It could provide tremendous short-term upside… but we need to be cautious.

You’ve heard about the huge moves that happen when the Reddit crowd gets behind a stock like GameStop (GME). With some coordinated effort from investors, stocks can make tremendous moves higher.

That’s what’s happening with Monero.

A group of dedicated Monero enthusiasts is trying to create a bit of a short squeeze in what they’ve dubbed the “Monerun.”

Some of these folks are concerned that exchanges don’t actually own the Monero that customers have bought. Instead, the exchanges are just offering a proxy.

The Reddit crowd is fighting back by simply taking their Monero from the exchanges and moving it into their wallets. This forces the exchanges to actually purchase the coins and transfer them.

If it gets big enough, this fast-moving slug of demand will push prices higher.

The exchanges, the theory goes, will learn their lesson, and Monero holders will profit handsomely.

So far, it’s working well. Prices are soaring.

Fundamentals Too

But let’s be clear… This forced “bank run” is a recent phenomenon. It’s been around for just the past two weeks or so.

The surge in Monero started long before this coordinated effort to push it higher. That means the fundamentals that make this coin attractive in the global market – mainly the anonymity in provides – remain a core driver.

Demand for a coin like this one will not wane. In fact, just this week, officials in Ukraine forbade their citizens from buying crypto via the country’s currency. They don’t want money leaving Ukraine’s borders.

That’s the sort of move – like it or not – that propels an anonymity-granting coin higher.

This one could get volatile, but we will continue to hold it. I expect Monero to have enough momentum to reach its all-time highs of around $400 once again later this year.

The next two weeks will show us just how long we will have to wait.

The attention this latest Reddit-inspired run is bringing Monero could lead to a big breakout as speculators come pouring in.

Keep holding. This could get very interesting… and very profitable.