Bitcoin has a clear advantage over all altcoins. We are not only talking about the network effect, which can no longer be obtained, but the function as a store of value. Bitcoin represents scarcity in its purest, digital form.
This is the result of a poll on Twitter. Judging by the results, most of the portfolios are largely made up of Bitcoin Trader.
Bitcoin is at the top
The strong Bitcoin price increase in the last few days was tough. The BTC price has risen by a whopping 10% in a few days and is currently still struggling at the USD 13,000 mark.
Although the current euphoria for Bitcoin and Ethereum is great, things are not looking so rosy for other cryptocurrencies. The Bitcoin price increase has caused many altcoins to bleed, and not just for the BTC trading pair.
Altcoins are highly speculative and are extremely dependent on the Bitcoin rate. Accordingly, Altcoins are exposed to a significant risk. In addition, none of these cryptocurrencies can compete with the scarcity of Bitcoin, making it a poor store of value in the long run.
What’s your share of BTC in the portfolio?
Josh Rager, a well-known trader on Twitter, wanted to know more. It created a poll to find out how its fans are doing. He asked what percentage of the portfolio consists of Bitcoin.
Here are the results of the survey. A total of over 5,000 people took part in the survey.
Most of the votes got the option “less than 10%”. 35.1% of voters agreed on this. Only 18.8% of respondents keep 11-50% of their portfolios in BTC.
For 23.2% of those surveyed, however, the portfolio consists of 51-89% Bitcoin. 22.9% are convinced of Bitcoin and hold 90-100% of their portfolio in BTC.
Josh mainly speaks to those interested in crypto, but you don’t know exactly how the rest of his fans‘ portfolio is made up. So that doesn’t mean that the remaining part is in altcoins. You could also imagine stocks and other financial products here.
What remains, however, is that 46.1% of those surveyed hold more than 50% of their portfolios in Bitcoin. This clearly shows how convinced investors are of digital gold and what expectations they have.
Corporations and institutional investors are only interested in Bitcoin
The results will probably come as no surprise to most. In the last few months, some companies have already announced that they have invested part of their capital reserves in Bitcoin.
It is similar with private investors. Those who understand BTC know the enormous potential behind it. Others prefer to be dazzled by promises of various altcoins and usually have to reckon with heavy losses.
In addition, PayPal made public only yesterday that it is now integrating Bitcoin and other crypto currencies on its own platform. This news turned the entire cryptospace upside down and caused a Bitcoin price breakout to the upside.
The preparation for the next bullrun
The development of Bitcoin gives hope for more. So not only are companies getting into Bitcoin directly, they are also supporting the network and providing the necessary infrastructure so that millions of people have easy access to cryptos.
The stone has already started rolling and it is only a matter of time before other companies follow suit. If you consider that more than 600,000 BTC are already held by companies and institutional investors, then you can well imagine what will happen if more companies follow suit.
There just aren’t enough whole bitcoins for everyone. Currently, many do not understand this, but over time and as the price rises, it becomes more and more clear how scarce the first crypto currency actually is and what value it actually has.