Why Bitcoin Is the Only Crypto You Need To Own

There’s no need to risk your retirement on altcoins and NFTs. Here’s why.

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This is just my take on investing in crypto. It’s not meant to be taken as investment advice. You need to do your own research and/or hire a professional financial advisor.

Winners and losers in crypto

We went from one cryptocurrency in 2010 — Bitcoin — to thousands of cryptocurrencies and tokens in just 12 years. And now we have multi-billion-dollar NFT collections. This proliferation of crypto coins and tokens has made some people quite rich.

However, in order for those people to become rich, someone had to pay for those profits. The sad truth is that the vast majority of all wannabe crypto traders end up losing a lot of money and giving up.

New traders are like so-called “fish” at a professional poker game. They don’t stand a chance against the “sharks.” Although they might win a few hands, money is going to mostly flow in one direction on that table — away.

How to not to invest in crypto

The solution? First, understand that to become a successful crypto day trader or swing trader requires substantial investments of time and money in education and training, plus hours of your time every day to keep an eye on these super volatile digital assets.

So you have to ask yourself, “do I want to commit my entire life to crypto trading?” If the answer is not a resounding YES, then a better idea than trading altcoins and NFTs is to make money the best way you know how and invest it wisely.

Yes, successful crypto traders are going to continue to get rich. But that’s merely because the vast majority of traders are going to have their heads handed to them.

How to invest in crypto with very little knowledge and effort

So, you’ve decided you’re better off earning a living doing something you’re good at. And you want to start investing in crypto because it’s making new millionaires every day. Which coins should you invest in?

The question really should be, where are all these crypto millionaires going to put their winnings? Whatever asset they’re investing their wealth in is probably going to be a good investment.

As these pro traders rack up winnings, you can bet that quite a large portion of them will invest their newfound wealth into the Bitcoin Monetary Network — the safest store of value and hedge against inflation — rather than into risky altcoins, metaverses, memecoins, or NFTs. All of these alternative crypto investments are far riskier than Bitcoin. As the safest crypto investment, trillions of dollars are going to be deposited into the “Bank of Bitcoin” over the next ten years.

How does Bitcoin increase in value?

As the value of a traditional savings bank (or any company for that matter) goes up, increased equity is attributed to shareholders, not customers. With the Bank of Bitcoin, any increase in market cap (value of all BTC) is attributed to everyone who holds the native currency.

So crypto millionaires have a choice. They can stick their retirement money in a bank that pays peanuts for holding onto their fast-deflating fiat money supply. Or they can invest their money into a cryptocurrency that won’t be eroded by inflation. It’s kind of a no-brainer, actually.

There’s only a limited amount of Bitcoin — 21 million coins. And 90% of them have been mined and minted already. If you want some bitcoin you have to buy it from someone who owns it. The number of long-term investors is climbing steadily. Said another way, fewer and fewer BTC holders are willing to sell. Because the supply is limited, increased demand means the price must go up.

Right now, it looks inevitable that Bitcoin will continue to serve as the world’s biggest and safest decentralized, autonomous, inflation-resistant savings bank for long-term investments. I expect the value of Bitcoin to grow by about 1,000% (10x) over the next ten years. But even just 300% is way better than most other retirement savings options.

For my money, unless it’s out there making me money this year, it should be in Bitcoin for years to come.

That being said, it’s always a good idea to keep a balanced portfolio of assets along with your Bitcoin holdings. But the bottom line is that Bitcoin is the only cryptocurrency that you need to invest in.

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