The pet does have a small fan base on Twitch, a live-streaming video site, with a channel called “Fish Plays Pokemon.” Mr. Goxx, the rodent’s moniker, is likely a reference to the early big Bitcoin exchange Mt. Gox. Starting June 12, the German-based hamster has started exchanging cryptos.
The monster lacks the keen wit of a seasoned trader, instead relying on a contrived prison known as the “Goxx Box.” The enclosure is an ingeniously designed device that serves as a miniature trading post suitable for a hamster. To begin with, the hamster plays a “intention wheel,” which chooses one of the 30 listed cryptocurrencies for trade.
Tron, Ripple’s XRP, Cardano’s ADA, and Ether are among the leading cryptos owned by the hamster. Mr. Goxx then walks through one of two “choice tunnels,” one labeled “purchase” and another “sell.” A transaction is performed on a computer in 20 euro increments (approximately $23.43) for any tunnel he goes through.
Mr. Goxx is therefore free to leave and come back to his office whenever he wants. A majority of people perceive the innovation to be mainly random and chaotic, while the rest of them find it very interesting. The Goxx Box may be inspired by Burton Malkiel’s book “A Random Walk Down Wall Street.”
Malkiel thought that a veiled monkey tossing arrows at a newspaper stock ticker list might outperform a human investing expert. But, as per Goxx’s daily Twitter feed, Mr. Goxx’s portfolio was up approximately 24% as of Friday. The hamster’s portfolio began with the equivalent of $390 in euros in an trading account.
And then there is a crypto trading hamster @mrgoxx who made it to @CNBC and @SullyCNBC 🐹 #btc https://t.co/cl5v6fgatb pic.twitter.com/lTwm3kao2z
— Wallstreetbets (@wallsteetbets) September 27, 2021
By mid-September, the value of portfolio had reached an all-time peak of $580, an increase of almost 50% in less than three months. During the same time span, Bitcoin has increased by 41%. Over the same time span, Mr. Goxx’s returns have outpaced those of the S&P 500, Warren Buffet’s Berkshire Hathaway, and Cathie Wood’s ARK Innovation.
However, the hamster’s portfolio has not been spared from the latest market-wide cryptocurrency drop. His caretaker, on the other hand, intends to provide Mr. Goxx with more investing possibilities in the future. “There are intentions to offer Mr. Goxx greater power and allow him to choose his own purchase amount if curiosity in his channel continues to grow,” Mr. Goxx’s caregiver informed Protos. Mr. Goxx, in particular, has been fastidious about his transactions. The hamster has purchased dips and regularly reinvested in cryptoassets that have resulted in large gains.