A recent survey of respondents from the ultra-rich showed that they did not choose Bitcoin as their first choice. Instead, they chose an altcoin whose growth has rivaled and even surpassed Bitcoin since its inception. As Kriptokoin.com, we convey the details…
Leading altcoin surpasses leading cryptocurrency
Crypto.com announced that the rich are slowly moving away from Bitcoin. Besides the leading cryptocurrency, their obvious choice is Ethereum, currently the largest altcoin by market cap. Figures provided by the crypto exchange showed that Ethereum is dominating the portfolio of the rich. With its wide range of uses and applications such as decentralized finance (DeFi) and NFTs, the value of cryptocurrency has increased exponentially. However, it is thought that more confidence has come from investors.
Crypto.com found that when it comes to the number of high-value investors investing in crypto, Ethereum has overtaken Bitcoin by 1 percent. While Bitcoin has a weight of 33 percent, Ethereum topped the list with 34 percent, proving that it is the first crypto of choice for investment. Crypto funds are in third place with 23 percent, while other altcoins have a value of 15 percent. Dogecoin, on the other hand, entered the list with 2% of investors who want to invest in meme coin.
The crypto exchange also noted that around 1 billion people are expected to invest in the crypto market by 2022. Michael Sonnenfeldt, President and Founder of TIGER 21, states that high inflation rates are what push uber-rich investors to crypto and thus Ethereum. He states that like all investors, the super-rich are concerned about inflation.
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