Thank you for your comment. While I think you are right in the reason for investing in Bitcoin, its volatility alone does little for staving off inflation. Bitcoin hit ~61k in April of this year and millions bought in believing the price of Bitcoin would skyrocket even further. Well, the price did not increase, it decreased and many people’s investments were lost.
However, when it comes to Crypto all of our analyses are basically speculation. We have no idea when a large investor will pull out of their money and cause the price to plummet.
What we do know when it comes to Bitcoin is the following:
- High environmental impact (proof of work is not sustainable and lacks scalability).
- Low Bandwidth (which makes large adoption problematic for the network).
- Tech is locked (Can’t make any upgrades to the Bitcoin network because admin access is inaccessible).
Therefore, it won’t be able to provide the services many altcoins are already providing. While Bitcoin will continue to remain at the top for the next few years, once the public learns more about altcoins its position will slowly whittle away.
So a diverse portfolio will likely lead to protection. The point of this article was to tell people to invest into Altcoins that will yield stable returns over a longer period of time (since many altcoins provide interest that Bitcoin can’t match).
