- Mr. Goxx, the crypto-trading hamster that went viral last month, is starting to capitalize off his early success.
- Mr. Goxx’s anonymous business partner has sold NFTs to help fund a larger portfolio and upgrade the hamster’s trading rig.
- Since the hamster’s trading journey began in mid-June, it has outperformed the S&P 500 by more than double.
Crypto-trading hamster Mr. Goxx is still at it, trading various cryptocurrencies on a near daily basis and continuing to post strong outperformance relative to the S&P 500.
The hamster, which went viral last month and was praised for his trading skills by Tesla CEO Elon Musk, is starting to see the benefits of its early success thanks to Mr. Goxx’s anonymous business partner who has raised funds by selling Goxx Capital themed NFTs.
“We decided to focus on NFTs because it’s a very transparent way of supporting Mr. Goxx. On the one hand, these artworks kind of document his journey. And on the other hand, supporters of the project directly get something in return for the engagement,” Mr. Goxx’s business partner told Insider.
Those NFT sales have so far have totaled more than $12,000, according to the activity of Mr. Goxx’s Opensea account. That helped fund a tripling of Mr. Goxx’s trading portfolio to about €1,700, as well as upcoming improvements to his trading rig, codenamed the “Goxx Capital Headquarters.”
The upgraded workspace for Mr. Goxx will include better cameras, motion control functionalities, and much more space, the business partner said.
Mr. Goxx’s office has already seen the installation of a new and improved intention wheel, which is a hamster wheel that Mr. Goxx runs on to choose which cryptocurrency to trade. Once the crypto is chosen, the hamster runs through one of two “decision tunnels” that trigger either a buy or sell trade.
But there is still plenty of work to be done.
“We cannot tell exactly how long it will take to finish everything as the system is getting much more complex. After construction and programming is done, lots of testing and bug fixing will be necessary,” Mr. Goxx’s business partner said.
Ultimately, the upgraded trading rig should give more insight into Mr. Goxx’s activities and provide more interactive elements to the intention wheel and decision tunnels.
Whether it will have an impact on Mr. Goxx’s solid trading performance remains to be seen.
The top three holdings of Mr. Goxx as of Thursday were litecoin, eos, and chiliz. Since the hamster began trading various crypto tokens on June 12, it has generated a time-weighted return of about 18%, according to the @mrgoxx twitter feed that documents daily performance, along with every trade made by the hamster.
That’s more than double the S&P 500’s gain of about 8% over the same time period. “Hamster has mad skillz!!” Elon Musk said last month of Mr. Goxx’s trading abilities.