A German crypto-trading hamster is profiting from the S&P 500 SPX through its own YouTube channel,
A hamster named Mr. Goex, probably after the now inactive crypto exchange MT Gox, has been trading cryptocurrency since June and Saw a 16.62% gain Until Monday. The S&P 500 gained about 4% over the same period.
Since June, Goxx Bitcoin has surpassed BTCUSD,
And dogecoin DOGEUSD,
And Ethereum has seen almost identical gains as ETHUSD,
You may be wondering, how does a hamster trade crypto?
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The owners of the Goxx spin through a number of cryptocurrencies while turning its hamster wheel, and it stops when the Goxx comes out of the wheel – this is called the “intent wheel”.
Once the crypto is selected, Goxx can run “buy” or “sell” decision tunnels in its cage. According to the Twitch account, which flows through Goxx’s businesses, its choices are sent to a real trading platform.
Here’s what Goxx’s office looks like:
Goxx only trades cryptocurrencies, and not personal equities or ETFs.
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Picking up pet stock is not uncommon.
A cat named Orlando made a team of financial industry professionals famous in stock-picking in 2012, and Lusha, a chimpanzee from Russia, earned 94% of Russian bankers during a 3-year investment in 2010.
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Author Burton Malkiel mentions in his classic book, A random walk down Wall Street, That “a blindfolded monkey can select a portfolio that can throw darts on the financial page of a newspaper that can be carefully selected by experts.”
Such success by animals randomly selects stocks, and in Goxx’s case cryptocurrency, explains how volatile and difficult financial investments can be.
It is important to do research before making financial decisions. Learn more about choosing smart money through MarketWatch’s “How to Invest” series.