2 Billionaire-Owned Cryptocurrencies You Can Buy This Week

Cryptocurrencies are having a bullish week. The prices of many crypto assets have recently reached all-time highs, and experts believe even more rises could be on the way.

Whether you’re a seasoned crypto investor or just starting out, here are two billionaire-backed insights cryptocurrencies It’s worth investigating this week.

This classic cryptocurrency may still have a 5,300% left side

Nothing can be tipped when it comes to cryptocurrencies Bitcoin (BTC 1.15%). More than 15 years after its creation, Bitcoin remains the undisputed leader with a market value of $1.4 trillion; This is larger than any other cryptocurrency and accounts for 58% of the total value of the crypto market. Investing $100 in Bitcoin the year it was launched could have turned you into a multimillionaire today. But one investor (maybe not quite a billionaire, but still pretty rich) believes there could potentially be another 5,300% increase.

Earlier this year, iconic growth investor Cathie Wood announced her long-term price prediction for Bitcoin: $1.5 million. This price target implies tremendous upside potential for Bitcoin, which is currently trading at around $68,000. But Wood believes the future may actually exceed his overly optimistic predictions. “If institutional investors allocated just over 5% of their portfolio to Bitcoin, that alone would add $2.3 million to the estimate I just gave you,” he explained in March. This means that in total, Wood believes Bitcoin’s long-term price could exceed $3.5 million. Just for perspective, he’s more conservative than billionaire MicroStrategy Chief Executive Officer Michael Saylor, who recently said he thinks Bitcoin will grow to $13 million by 2024.

It is worth noting that Wood did not give a specific date for his long-term price forecast. It just points out that if the adoption trend is in a certain direction, Bitcoin’s value will almost certainly continue to increase. Even a simple comparison with gold, another popular store of value asset, provides an interesting investment example. Currently, the market cap of gold is roughly $18 trillion, 13 times higher than that of Bitcoin. Of course, Bitcoin also has an added value related to its application as a currency and development platform. But no matter how you slice it, it’s easy to see why Cathie Wood remains invested for the long term – whether or not Bitcoin has a good week’s performance.

Bet on the entire crypto universe with this exciting project

If you want to invest in the next Bitcoin, Ethereum (ETH 0.54%) is a great place to start. Due to its structure, it is conceivable that Ethereum could become much larger than Bitcoin in the long run. It should come as no surprise, then, that several billionaires, including Tim Draper, Vitalik Buterin, and the Winklevoss twins, are betting big on this next-generation cryptocurrency.

Why does Ethereum have more long-term upside potential than Bitcoin? Although Bitcoin was primarily designed as a stateless cryptocurrency with no central control, Ethereum was built to take crypto to another level. So Ethereum is specifically designed to be built upon as a crypto-native platform for the entire crypto ecosystem. Today hundreds of projects are built on Ethereum, which means they primarily use Ethereum. backend computing powering its decentralized services and networks.

Already everything from decentralized exchanges to entire gaming universes runs on Ethereum, a scale of development that Bitcoin cannot match. If you believe that cryptocurrencies are not just a currency, but also a way to build a decentralized technological future, Ethereum should be at the top of your buying list. This is almost like being able to buy shares of the internet in its infancy, eventually owning part of the network on which the entire global economy will run.

Of course, as with Bitcoin, Ethereum’s biggest promise is in the long term. Keep in mind that nearly 25 years passed between the invention of the Internet and the launch of the iPhone, plus another 15 years to bring us to today. It’s been a great week for crypto overall, but the biggest gains will be experienced by those who buy and hold for the long term.