A Wyoming cryptocurrency expert wasn’t too surprised to learn that a crypto-trading hamster is outperforming billionaire Warren Buffet when it comes to the stock market.
Basically, everything crypto-related is doing well right now, according to Wyoming crypto expert Caitlin Long.
Mr. Goxx, a hamster who helps his owner choose whether to buy or sell certain cryptocurrencies, has been outperforming Bitcoin, the NASDAQ 100, Buffet-owned Berkshire Hathaway and the S&P 500, according to NPR. His portfolio is up nearly 20% since the hamster (and his human) began trading in June.
Long, the founder of a financial company focusing on digital assets, told Cowboy State Daily on Monday that the hamster isn’t really a master of cryptocurrency. Instead, the market is just good right now.
“Crypto markets tend to be characterized by high correlation (in other words, the entire sector goes up or down generally together), and we’re in a crypto bull market right now,” Long said. “So I’m not surprised the hamster has outperformed Buffett & the stock market. Pretty much everything in crypto has done so as well.”
The hamster runs on a wheel that allows him to select from dozens of cryptocurrencies. Then, deciding between two tunnels, he will choose whether to buy or sell. Then, his decision is sent over to a real trading platform, according to NPR.