Connect with us

Hi, what are you looking for?

ELEVENEWS

Bitcoin

Top Analyst Enters Altcoin Market After Bitcoin (BTC) Halving – Here’s Why XRP Is Not in His Portfolio

Now that the Bitcoin halving is over, market analyst Mati Greenspan is once again diversifying his crypto portfolio and re-entering the altcoin market.

Greenspan publicly went all-in on BTC early this month. Now, at time of publishing, about 70% of his crypto portfolio is in BTC, followed by a 9.43% Ethereum allocation, a 6.68% investment in Tezos and a 6.29% investment in Zcash. Small investments in Dash and Litecoin round out his holdings.

In a new edition of the Quantum Economics newsletter, Greenspan says BTC remains his number one pick due to its strong fundamentals, and concerns over rising transaction fees are no reason to jump ship.

“There are at least three dozen cryptos that are cheaper and faster, but none of them have the security, digital scarcity, immutability or liquidity that BTC does.

Bitcoin isn’t very good with micropayents, and the moment I find myself in a Starbucks trying to buy some coffee with crypto, that’s certainly something that I will consider, but as the value proposition of bitcoin is about having an asset that is disconnected from governments and banks and not about making it easier to buy coffee, I really don’t see any reason to ditch the gold standard at this time. You get what you pay for.

As for XRP, Greenspan said in January that he’s bullish on the third-largest cryptocurrency by market cap and does not think it’s a security. However, he remains concerned about the coin’s total supply of 100 billion coins, saying XRP “does not have a credible claim to digital scarcity.”

Bitcoin’s dominance of the overall market cap of all cryptocurrencies currently stands at 66.9%. It has remained above the 60% mark since July of last year.

News Source

Advertisement

You May Also Like

Libra

Ripple CEO Brad Garlinghouse is adamant that Facebook’s unveiling of its Libra cryptocurrency will lead to big business for his banking software and cryptocurrency...

Ripple

When thinking about investing in Ripple (XRP), the digital coin that runs on the Ripple’s payment blockchain system, traders ought to consider what function Ripple might play...

Criptodivisas

(PRLEAP.COM) Superior Coin, a global Cryptocurrency company (www.superior-coin.com), announced today the unique use of it’s blockchain technology in regards to privacy, and security. With...

Ripple

Many of the investors are looking for cryptocurrencies which can actually rise significantly in 2018. Most of the investors are looking at the lesser...

Copyright © 2020 Elevenews