“Nobody will Get Rich Investing In Bitcoin Ever Again,” Crypto Analyst Sparks Debate
While some have continued to increase their Bitcoin investments due to the belief that the asset still has a long way to go in value, prominent crypto analyst Alex Krüger argued the opposite. In one of his Twitter posts published on March 31, the analyst stated that “no one will ever get rich investing in Bitcoin again”.
“It’s not early. This boat has already sailed. The only people who will get rich with bitcoin are those who sell Bitcoin services,” added Krüger. This sparked discussions and debates among the cryptographic community, as many disagreed.
Are the days of Bitcoin investing over?
Although Krüger mentioned that the statement was a social experiment to observe engagement in response to a polarizing absolute statement, he still stuck to his words by saying “what I wrote is still true. People shouldn’t be buying bitcoin to stay rich longer.”
According to Krüger, BTC is no longer an asset to buy as an investment, as the asset has moved away from that category and is now more of a store of value. The crypto analyst noted, “This [Bitcoin] boat sailed. Bitcoin is now for wealth preservationAttractive risk-adjusted returns, trading and hedging against the fiat system.”
When another user commented on the analyst’s post expressing his opinion that Bitcoin still has 10x potential, especially in the $15,500 region, the analyst responded by saying that 10x from the lows “looks feasible.” However, not so much at current market prices.
Analyst advice instead of bagging BTC
While Krüger tweeted his sentiment on Bitcoin, the analyst suggested some advice investors should answer instead bagging BTC. According to Krüger, investors should focus more on accumulating crypto assets that are more volatile than BTC.
Krueger noted:
The best way to increase returns is not to trade with higher leverage, but to trade assets with higher volatility. Less liquid caps are more volatile. Microcaps are the most volatile.
The analyst further added that if he was just starting out, he would only focus on decentralized finance (DeFi) microcaps, as “it is much easier to make 100x on a small account with microcaps than with leveraged BTC trading.”
The analyst too he said:
If I were starting over I would focus entirely on DeFi microcaps. heavy FA, a little macro (for context), a little TA (in BTC only, for context, never in microcaps), plus coding for better/faster execution. Long, uneven, diversified, non-stop bets.
Meanwhile, in the past 24 hours, Bitcoin has hit a remarkable high and has dropped nearly 5% since then. As of yesterday, the asset rose above $29,000. However, at the time of writing, the cryptocurrency appears to be gearing up for another rally, rising 0.5% with a trading price of $28,463.
Shutterstock Featured Image, TradingView Chart