If you want to 100x your Wealth today, then Altcoins are going to be how you do it. While everyone out there is paying attention to bitcoin right now, well, it’s running up, and having this great crazy run, it is going to be altcoins that will truly make the average investor rich. In fact, we are starting to see not just retail investors who are buying crypto outside of bitcoin, we’re also seeing high net worth individuals coming in, and yes we are seeing institutional involvement in the altcoin markets, all of which says that altcoins, not bitcoin, is how to get rich in 2021. Here are three reasons why you should buy altcoins.
1- Altcoins price shots are bigger than Bitcoin
In the recent events of the price hike, Bitcoin was moving 10% at best, while altcoins shot at times more than 20%. Take for example XRP, which was late to adjust its prices and join the recent uptrend. Its price shot through the roof after announcing its airdrop.
The recent DeFi craze will also have a very big effect on the Altcoin market. New coins that solve a societal stigma and have a valid purpose to be used, have very high potential of growth, as masses will adopt them when they are fully functional and optimized.
For Bitcoin to 100x, its market value should become USD 340 trillion, a figure a bit too optimistic for a 1 year timeframe, whereas Polkadot or ChainLink are much more likely to achieve it, given their functionality already hit the markets.
2- Big Money started buying Altcoins
It is true that right now, most Institutional Investors are buying mostly Bitcoins. But we have to remember that it basically took us around 10 YEARS just to convince these Institutional players to buy Bitcoins, so a lot of baby steps here are at play.
If we look closely at what Grayscale Investment Trust hold for Financial Institutions, we can notice a big chunk of around 10% invested in Ethereum, or around USD 1.6 Billion!
12/09/20 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.
Total AUM: $12.1 billion$BTC $BCH $ETH $ETC $ZEN $LTC $XLM $XRP $ZEC pic.twitter.com/Rt4hQEeMb7
3- Retail businesses adopting Altcoins
Whenever a business starts accepting or dealing in cryptocurrencies, they mostly start with the biggest two or three already well established coins (BTC, ETH, and LTC usually). But how to expand your business crypto sector? Of course, by starting to accept a new coin to the list!
That’s been the case with many online businesses,with the example of the Paypal announcement, which promised the inclusion of other coins in the future. This will definetly push altcoins to new highs.
To sum up,
Bitcoin is mostly the only coin which reached its previous all-time high, which was already high. Other coins in the market barely made it to 50% or even less. This alone should be an indicator for people to invest in altcoins. Of course you can buy Bitcoin and include it in your portfolio, but also invest in small cap coins!
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Rudy Fares
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