In a shocking development, renowned crypto enthusiast Ran Neuner, once an altcoin maximalist, recently announced that he is liquidating all altcoin holdings in favor of Bitcoin. Neuner’s change of mind stems from a deep awareness of the potential narrative of the next bull market.
“This cryptocurrency is the gold of the future”
Ran Neuner believes investors will flock to safe assets due to government mistakes ranging from economic collapses to escalation of geopolitical tensions. Based on this, Neuner makes the following statement:
I think governments will do crazy things. And I think when governments want to do crazy things, people will flock to gold.
Gold is traditionally the safe haven of choice during turbulent times. The yellow metal has gained significant value in the last period. According to Neuner, rising gold prices show that investors are preparing themselves for possible missteps by the government.
Gold price / Source: TradingViewHowever, Neuner predicts a “difficult moment” for gold as well. Accordingly, there is a point at which Bitcoin will surpass it as a preferred safe-haven. Despite its long standing status, gold is not on-chain verifiable. Central banks claim to own a certain amount of gold. But without on-chain verification it’s hard for them to prove it definitively.
Worldwide Gold Reserves / Source: StatistaAccording to Neuner’s theory, “somewhere a government or central bank is going to do something stupid about gold…. People will flock to Bitcoin.” It’s possible that this significant shift in investor behavior could be an important moment for Bitcoin.
Bitcoin’s evolution: A new investment frontier
Bitcoin is not only an upcoming safe haven, but its recent development also excites Neuner. Neuner points to the launch of Ordinals, which gives Bitcoin a similar functionality to Ethereum. In this context, he expresses his excitement by saying, “Bitcoin has ceased to be just a store of value and has started to rival Ethereum.”
Indeed, the ability to issue Bitcoin tokens, run smart contracts, and the launch of the Bitcoin virtual machine, as you follow on Kriptokoin.com, has dramatically changed the crypto landscape. Even Michael Saylor, the former CEO of MicroStrategy, declared the emergence of the BRC-20 tokens as “bullish”.
https://twitter.com/LeonidasNFT/status/16560376767630730240
But Neuner’s excitement doesn’t stop with Bitcoin’s technical advances. His decision to sell his altcoins stems from his belief that investing in Bitcoin and the infrastructure built around it offers a better perspective than smaller altcoins. He expresses his views on this matter as follows:
We really, really entered a new era in Bitcoin… Would I rather invest in smaller altcoins elsewhere? Or would I rather invest in the amazing infrastructure built on top of the Bitcoin ecosystem?
When to sell altcoins?
While Ran Neuner is excited, he also predicts future challenges, especially with Bitcoin’s scaling capabilities. However, he believes investors should prepare for this upcoming revolution by accumulating “dry powder” or investable cash.
Neuner warns that while Bitcoin and its tokens skyrocket, waiting will mean prices for other tokens fall. His advice? Entering Bitcoin and its emerging ecosystem now. This sudden shift in an altcoin enthusiast’s perspective underscores the rapidly changing dynamics in the crypto market. As Bitcoin evolves, it is possible that it will dominate the next bull market narrative. However, only time will tell.
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