The biggest mistake you can make in the coming Bitcoin bull market would be to get distracted with altcoins—all cryptocurrencies other than Bitcoin.
Many erroneously think that since there are more than 20,000 cryptocurrencies, “crypto” is just another asset class like bonds or stocks, and they need diversification within that asset class.
As you’ll soon see, that would be like adding pyrite to your portfolio to diversify your gold holdings.
Few understand the simple truth that although there are over 20,000 cryptocurrencies, Bitcoin is the only one with fundamental value.
It’s essential to consider how Bitcoin and cryptos should be classified.
What exactly are they? Are they money? Are they equity? Are they something else?
Here are three crucial reasons why you should stick to Bitcoin only. It will clarify the situation in a way that anyone should understand. Continue reading “The Case Against Altcoins: 3 Reasons Why You Should Stick to Bitcoin Only”
