It’s ugly out there.
Fears over the trade war… tariffs… inflation… and a potential recession continue to drag markets down.
The S&P 500 and Nasdaq are in a bear market.
This weakness spilled over into crypto.
During nasty drawdowns folks sell whatever they can. Quality assets often get slammed during selloffs, even if there’s no fundamental reason to sell them. That’s what happened with crypto.
Bitcoin (BTC) is down another 16% since tariffs were announced. Ethereum (ETH) and Solana (SOL) are down another 30%.
I understand these selloffs can be scary, especially if this is your first time experiencing a drop like this in crypto.
My friends, do not panic or hit the sell button. For long-term investors like us — who are putting money to work for the next 5–10 years — this is a buying opportunity.
Crypto is one of the best assets to own long-term.
Look at bitcoin’s performance vs the S&P 500 and Nasdaq 100 over the last two years:
Source: Koyfin
S&P 500 and Nasdaq returned 20% and 30%. Meanwhile, BTC surged 175%.
And bitcoin is up 30,000% in the last ten years. Despite loosing 80% of its value on two different occasions.
I bet that a year from now, this will look like a great buy-the-dip opportunity.
So keep a long-term view and use this selloff to accumulate quality cryptos at a discount.
There are several I like trading below $1. RiskHedge Venture subscribers already know which I like the best.
Today, I want to tell you about my 2nd best choice: Hivemapper (HONEY).
I first recommended Hivemapper (HONEY) to my RiskHedge Venture subscribers in November 2022.
A year later, we sold half of that position for a 1,050% gain. We continue to hold the other half (+320%) as of this writing.
This may look like you’ve already missed the boat. But don’t worry, Hivemapper is still a very early-stage crypto. It hasn’t even made it into the top 100 cryptos by market cap yet (currently, it’s in the 250th spot). There’s still plenty of upside.
Remember old-school paper maps you had to unfold and fold all the time?
You rarely see them anymore. These days, we rely on apps like Google Maps to get around.
Most people use Google Maps multiple times a day, without even realizing it. They use it each time they book a room on Airbnb… hail a ride on Uber… review a restaurant on TripAdvisor… order groceries via Instacart… scope out a neighbor’s home on Zillow… track their UPS delivery… or order food on DoorDash.
Every single one of those services runs on Google Maps.
“Mapping” might seem like an obscure industry that doesn’t really matter. But it’s a multibillion-dollar industry — and Google (GOOG) dominates about 85% of it. Morgan Stanley estimates Google Maps raked in $11.1 billion in revenues in 2023.
Building and maintaining a global map is incredibly expensive and time-consuming. There are an estimated 40 million miles of roads around the world…
And roads and routes change all the time, which means you have to re-map them regularly.
Each Google Street View car costs $500,000 to outfit. And Google spends an estimated $2 million per day maintaining and updating its maps. Even with all of Google’s money and might, most roads around the world are only updated every 18–24 months.
That’s a big problem for businesses like Uber and UPS, that rely on fresh, up-to-date maps.
There’s another issue with Google Maps: It’s super expensive. Uber alone paid Google Maps roughly $60 million between 2016 and 2018. That’s over $50,000 per day!
Here’s how it works…
Hivemapper makes a 4K, high-definition dashcam that’s roughly the size of a deck of cards.
Anyone can buy one of these dashcams and attach it to their rearview mirror like this:
Source: Hivemapper
The camera automatically “maps” the roads as you drive around, just like a Google Street View car. Hivemapper then feeds these images into its global map.
The best part? Hivemapper pays you in crypto for updating its map. In other words, you can earn Hivemapper’s token — HONEY — by simply driving your car.
Hivemapper contributors have already mapped 477 million km of roads. For perspective, that’s nearly three times the distance from Earth to the sun.
This is a FAR better way to build and maintain maps.
Even with hundreds of Street View cars and cash to burn, Google maps a road roughly once every 18 months. With an army of contributors across the world, Hivemapper can map the same road at least once a week. Crypto incentives will motivate contributors to frequently update the maps.
During testing, Hivemapper found it “sees” any given street 25X more frequently than Google.
Think about it this way… Google only gets one shot at taking a high-quality photo of a road once every few years.
Hivemapper gets 25X more opportunities. This gives it a far better chance of building a high-quality, “fresh” map businesses will pay to access.
Look at these two shots of the same road sign, for example. You can see Google’s image (left) is blurry. Hivemapper’s photo (right) is far clearer.
Sources: Google Maps; Hivemapper
Hivemapper is building a much fresher map that covers our whole world. Google’s few hundred Street View cars can’t compete with millions of individual contributors who will cover every inch of highway around the world.
Hivemapper also has a huge cost advantage over Google. Each Street View car costs roughly $500,000. Hivemapper’s dashcams cost 1/1,000th of that. And unlike Google, Hivemapper doesn’t have to pay folks salaries to drive around all day.
This will allow Hivemapper to undercut Google on price and eventually lure its high-paying customers away.
Back in 2022, HONEY reached an all-time high of $0.43. It currently trades at around $0.03.
That’s your buy-the-dip opportunity. You can buy HONEY on Coinbase.
P.S: Learn about two other early-stage cryptos I like by clicking here.
