Posted on December 3, 2021, 11:15 AM
According to Timmothy Collins, the crypto– alternative currency is used more than its better known rival.
Cryptocurrency is either the world’s best idea that has yet to find its niche, or an algorithm for printing lottery tickets.
Regardless, it has made some people very wealthy in recent years. As a result, it is moving more and more from the province of technology-driven investors to the mainstream market.
“Cryptocurrencies are increasingly making their way into stocks,” Timothy Collins recently wrote on Real Money. “Facebook is now Meta. Coinbase (COIN) expands to more coins and NFTs. Bitcoin now lives in ETFs. Roblox (RBLX) – Get Roblox Corp. Class A Report continues to show us that the play space with an idea of ownership in games has merits. Disney DIS, McDonald’s MCD, and other big names have thrown their hats in the ring. Headlines on the three or four metaverse or NFT stocks to own are becoming commonplace. At some point, even traditionalists will have to abandon the “Beanie Babies” argument. “
The Beanie Babies’ argument suggests that crypto is an overvalued collector’s item, like baseball cards and comics. The counter-argument is that the proliferation of blockchain-based products indicates a truly innovative technology that is still finding its foothold in the market.
In other words, one side of the debate suggests that it is simply a trading market, in which prices rise without creating underlying value. This may interest you: Investing in Ethereum: should you buy ETH at the current price?. The other part argues that investing in cryptocurrencies means investing in future value, which will materialize when companies use this technology to launch products and public services for the market at large.
For investors who believe cryptocurrencies are investments of the future, writes Collins, it’s time to start taking a more serious look at ethereum. This asset doesn’t have the bitcoin brand name, but it does offer a potentially more serious product.
“I’ve seen and heard people talk about Ethereum going to rock bitcoin. This would mean that the price of Ethereum would exceed that of Bitcoin. Impossible ? No, but it’s still a big task. That being said, Ethereum is one of the places I see the most action. Bitcoin doesn’t really have a role to play in the creation or trading of NFTs. He doesn’t have much, if at all, a role in NFT games. It is not very present in the space of alternative parts. Ethereum is used in all of these areas. “
Top 3 recommended brokers to invest in Crypto in december 2021
67% of retail investor accounts lose money when trading CFDs with these providers. You should ask yourself if you can afford to take the high risk of losing your money.