Alternative Investing Report - December 17, 2024

*as of 12/16; Sources: S&P, BTC, FTSE, DJRE, CL50

Sure, Bitcoin just hit another all-time high, surpassing $107,000, but have you heard of Fartcoin? If you haven’t, yes, you did read that right, and it’s a memecoin that was launched on the Solana blockchain less than two months ago. Today, it boasts a market cap of more than $800 million. Its price has risen 1200% since its inception and has more than doubled in the last week. The total memecoin market cap sits at $131.3 billion, despite the fact, or perhaps because of the fact, that they have no inherent value.

➨ TAKEAWAY: Memecoins spike in value when they get attention, and the media has been reporting on them in the wake of the election and Bitcoin’s rise. It is essentially gambling, and while some point to the exuberance around memecoins as a bullish sign for the crypto market as a whole, others argue that it hints at a bubble that is going to pop. Still, Dogecoin, the first meme coin, is still going strong with a $59 billion market cap, so there is the possibility of staying power. Just be warned that memecoins are volatile and many will likely end up losing all their value.

According to Zillow, the typical U.S. rent in November fell by 0.2% monthly and was up 3.4% year-over-year. The share of listings that offered concessions, like free weeks of rent or free parking, set a new record at 38.6%. The rents for single-family homes actually increased last month, by 0.1%. Meanwhile, Realtor.com found that the median rent for the top 50 metro areas is actually down year-over-year, by 1.1%.

➨ TAKEAWAY: As more people with families find that buying a house is out of their price range, they are turning into long-term renters and targeting single-family homes rather than apartments. This will continue to be the case as long as rent growth remains stagnant and mortgage rates and housing prices remain relatively high.

🤖 ChatGPT search engine: OpenAI is now allowing everyone access to their AI-powered search engine, after previously rolling it out to paid subscribers in October, as the AI startup takes on Google directly.

🥃 Whiskey investing guide: Tips for investing into whiskey include buying casks directly from distilleries, targeting rare, limited-edition bottles, and to consider blended whiskies, not just single-malt scotch.

🚀 Proptech booming: Funding to property technology startups increased by 32.5% in 2024, as AI-related startups sparked interest, and a big October made up for a slow first half of the year.

🎨 Lost Claudel sculpture: The French sculptor Camille Claudel’s 1899 “The Age of Maturity” is up for auction next February with a high estimate of $2.1 million after being found in an uninhabited Parisian apartment.

🪙 Crypto VC funding: Crypto startups have secured more than $1.3 billion in funding since the election, with infrastructure projects leading the way.

🏢 Discounted skyscraper: The 57-story Wells Fargo Center in downtown Minneapolis just sold for $85 million after having last traded in April 2019 for $313.6 million, as urban office buildings continue to sell at significant discounts to earlier prices.

This 4-bed, 3-bath house in Bellefonte, PA, almost the exact center of the state, was built in 1859 and serves as the entrance to the town’s Union Cemetery. The property has a backyard along with a patio featuring a koi pond. The 2,325 square-foot house is available at the affordable price of $200,000, and comes with (hopefully) quiet neighbors, as long as you don’t mind the spooky ambiance.

Advertisement Disclaimer: Alternative investments are speculative and possess a high level of risk. No assurance can be given that investors will receive a return of their capital. Those investors who cannot afford to lose their entire investment should not invest. Investments in private placements are highly illiquid and those investors who cannot hold an investment for an indefinite term should not invest. Private credit investments may be complex investments and they are subject to default risk.