Investment strategist Lyn Alden says that Bitcoin will continue to be the dominant currency in the crypto market and will surpass its competitors.
Lyn Alden calls Bitcoin the “fastest horse” in the crypto race
Speaking in a recent interview with the “What Bitcoin Did” podcast, Alden said that Bitcoin is Bitcoin’s biggest horse in the crypto race. argued that its competition would come from central bank digital currencies (CBDCs). Alden, which provides equity research and investment strategies for clients, described the digitization of money as “inevitable” and said the primary issue facing the market will be which asset will become dominant. Alden noted that Bitcoin is the most likely candidate for long-term success, including overcoming its shortcomings and resisting the influence of government control.
Alden’s comments on Bitcoin include:
It ticks a number of boxes, and even the ones it doesn’t tick, as technology improves and more it becomes markable as it is widely held and gets better. So I think more long term, I think Bitcoin… You can say it is the fastest horse of the race.
Lyn Alden advises to create a balanced portfolio
Alden has warned investors not to allocate 100% of their portfolio to Bitcoin, despite naming Bitcoin as the most dominant cryptocurrency. However, she says at this point not having Bitcoin is “something unreasonable”.
Alden finally highlights Bitcoin’s legitimate use cases as an advantage over stocks:
I think in addition to being an investment as well as a savings [ Bitcoin’s] insurance. It gives you this optionality in a way that other entities do not.
Terra team sold over 80 thousand BTC in May
Due to Terra and UST collapse, the entire cryptocurrency market’s eyes are on Luna Foundation Guard’s reserve. According to the foundation’s official Twitter account, LFG has only 313 Bitcoins left from 80,081 BTC. In summary, 80,081 BTC, or 99.61% of Bitcoin protected by LFG, came out of the fund. As the list announced today includes 1,973,554 AVAX, investors panicked. As Kriptokoin.com, we have discussed the details in this article.
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