Trading Altcoins To Get More Bitcoin?

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In this video, I discuss why I think it's a bad idea to try to trade altcoins in order to get more Bitcoin.

The conventional wisdom is that you should buy altcoins (crypto other than Bitcoin) at the start of a bull market and then sell them for Bitcoin or fiat at the end of the bull market, as a way of outperforming Bitcoin.

This investment strategy makes a number of assumptions that may not turn out to be correct:

1) You can personally identify the beginning of the bull market
2) You can personally identify the end of the bull market
3) You are able to pick altcoins that outperform Bitcoin during the bull market, which may not happen because you are probably a bad trader or because huge inflows into the BlackRock Bitcoin ETF may cause Bitcoin to outperform everything else across the next few bull and bear markets
4) You are able to jump from crypto to crypto profitably, while compensating for short-term capital gains taxes that eat away at your returns
5) You don't get your crypto or fiat that is on a crypto exchange hacked, rugged, lost, frozen, etc as has happened with many crypto casinos including FTX and BlockFi.
6) You are able at some time in the future to exchange your altcoins or fiat for Bitcoin and successfully withdraw it to cold storage, without being stopped by withdrawal limits or government bans on self-custody.

Don't be the guy whose grandchildren have to sadly recount how he bought a dusty lot in the Nevada desert when he could have been buying a beachfront property in Malibu in 1950.

Don't be the guy who owned Cardano or Hex in 2023 instead of Bitcoin.

Don't be the guy who buys a proof of stake altcoin just weeks before the SEC sues the project in 2024.

Don't choose crypto.
Don't choose fiat.
Choose Bitcoin.

Choose the asset that people who are much smarter than you (like Michael Saylor and Ricardo Salinas) are buying.

Choose Bitcoin, and get on the winning team now before it is too late.

Not investment advice! Consult a financial advisor and tax advisor.

Reports of Ethereum flippening Bitcoin were greatly exaggerated:
https://www.nasdaq.com/articles/ethereum-is-on-track-to-flip-bitcoin-heres-why

Ricardo Salinas on Bitcoin:
https://bitcoinmagazine.com/videos/ricardo-salinas-you-should-buy-bitcoin-because-they-arent-making-any-more-of-it-there-will-only-be-21-million-bitcoin

I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos. My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.

#Bitcoin
#crypto

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