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 Bitcoin He argued that the biggest competition in the crypto race will 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 boxes it doesn’t tick as technology advances and becomes more complex. 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 recommends creating a balanced portfolio
Although Alden calls Bitcoin the most dominant cryptocurrency, investors should dedicate 100% of their portfolio to Bitcoin warned them not to. However, not having Bitcoin at this point is “something unreasonable,” she says.
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 the collapse of Terra and UST, the entire cryptocurrency market is in the reserve of Luna Foundation Guard. 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 covered the details in this article.
