Bitrue Progress Report (Free) 📈
HODLer's Den (Free Version)
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Disclaimer: Nothing in this report constitutes investment advice—I am just reporting on my accounts and its progress on each platform. You should not use this report to make financial decisions. I recommend you seek professional advice from someone who is authorized to provide investment advice.
Hey everyone and welcome to the HODLer’s Den!
Here you will find information on my crypto investment portfolio straight from a HODLer’s perspective.  This section will focus on HODLing cryptos and interest-earning platforms.
Bitrue
Updates
Adjustment to Power Piggy Interest Rates
Bitrue has recently been adjusting interest rates in Power Piggy on a weekly basis. The changes below are effective as of June 15th, 2021.
Please note that interest rates for Power Piggy in the future will be adjusted dynamically and may change from day to day in the same fashion as a DeFi protocol would.
Power Piggy 2.0 Launch
On June 19th, 2021, Bitrue updated its Power Piggy reward system for BTR holders:
In addition, Bitrue is making adjustments to the VIP cap mechanism. Instead of your VIP cap being based on your BTR over 7 days, you will now be able to use the VIP cap as soon as you add BTR to your account. Any BTR used to generate a cap will then be frozen for 24 hours.
At the present time each BTR will let you invest the equivalent of 1 USD in the coin of your choice. This value may be rebalanced over time.
Use BTR To Vote For New Coin Listings
Another welcome addition for BTR utility is the ability to vote for new coin listings on the platform.
Bitrue is hybridizing into a CeFi/DeFi platform as most DeFi protocol use native tokens for governance and Bitrue is doing the same.
Voting will be performed by staking your BTR in Bitrue’s DeFi mining platform for 7 days, where you will be able to specify the coin that you are supporting. Staking will not only count as a vote, but will also permit you to earn healthy rewards in the form of the coin that you are voting for.
Interest Earned
Despite the recent market correction, my Bitrue Power Piggy portfolio continues to accumulate interest. In the last 4 weeks, my Power Piggy portfolio lost value of about 1200 USD—a 3% decrease in value. You can use this Google Spreadsheet to track my earnings on the four major platforms I use.
Below is my earnings from Bitrue’s Lockup. So far, I have accumulated 26,528 USD in interest. In the last 4 weeks, this portfolio lost value of 4% resulting in a reduction of 1200 USD in earnings.  I am taking advantage of the current high APRs on ETH and BTC with Bitrue’s Lockup. ETH is earning a whopping 11% and BTC is earning 8.5%.  Since BTC and ETH make up a large portion of my lockup portfolio, the dip has taken a toll on my portfolio. BTC is at 35.8k USD and ETH is at 2247 USD. Note that the total amount invested is inaccurate.
Overall, my Bitrue interest earnings lost 4% in value, reducing my account value of almost 2400 USD.  No matter which direction the market heads, HODLing and earning interest is the safest bet.  The great thing about HODLing with Bitrue, or any platform that provides interest, is that I am dollar cost averaging (DCA) into these cryptos without regard to market conditions.  Once the market becomes favorable, the gains will be massive.
Conclusion & Prospect
The market seems to have settled down quite a bit and is in the consolidation phase. My Bitrue portfolio is holding out and the losses are not as massive as compared to my previous Bitrue progress report. Remember that during a bull run or rally that my portfolio could easily gain 20-40% in just a couple of weeks. If we look at the big picture using the Google doc linked above, my portfolio is still up from the beginning of the year.
I like that Bitrue is finally making the shift to DeFi and hybridizing into a CeFi/DeFi platform which makes the platform more relevant to current demands. This makes me extremely bullish on Bitrue because it provides a familiar user experience to new users coming from legacy finance while providing them with DeFi exposure.
With the recent changes to the Bitrue Power Piggy ecosystem rewarding Bitrue holders, it may be the catalyst that propels Bitrue prices back to all time highs. The new reward system is much simpler to understand and utilize. However, note that the Bitrue used for lock up investments do not count towards your BTR holdings—which was always the case since the BTR that gets locked up is earning 7.3% APR. It is up to you to decide whether to maximize your Power Piggy earnings or milk the high APRs for locking up funds.
Either way, after the consolidation phase, I see Bitrue doing extremely well, especially for BTR holders because the team is starting to implement strong utility for BTR.
What I Am Doing
This section is dedicated to paid subscribers as I will go into details of what moves I am making with my interest-earning portfolios.
You are currently reading the Free Version. If you would like more information, please consider switching to a paid subscription.
Each week I will report on a different interest-earning platform that I use—mainly, Celsius Network, Bitrue, Crypto.com, and BlockFi.
If you are new to crypto or have considered joining new platforms, check out the Starter Pack created by CryptoOneStop by clicking here or if you want to earn over 250 USD in referral bonuses then click here.