Are you looking for the most profitable AltCoins in 2021? Data shows that BTC and ETH are the best coins. If you are a “crypto” user, then a direct buy-up of BTC or ETH performed better than major stocks this year.
Markets News
Although Bitcoin (BTC), may have seen a price fluctuation this year, it remains a better investment than some of the largest crypto stocks.
According to new data, it is still a good idea to simply buy and hold despite all the growth in Bitcoin’s industry.
Stocks can’t compete with BitCoin and ETH
It is obvious that holding BTC was more profitable than holding equities when looking at the stock performance for firms with the highest BTC allocations.
Zhu Su, CEO of Three Arrows Capital, stated that “Buying crypto stocks to outperform coin is difficult” and cited comparative performance data from Bloomberg.
Despite the success of both Bitcoin and Ether, they have performed significantly better than stocks from companies like MicroStrategy and Coinbase (COIN) in 2021.
The figures highlight the differences between traditional and crypto markets, the latter having a degree of freedom of expression long absent from equities, commodities and other assets.
“Markets are forward looking. Crypto even more so bc it’s not under anyone’s control. It’s the only free market left in the world,” popular trader and analyst Pentoshi noted earlier this month.
For retail entities, in particular, a dollar-cost averaging strategy involving allocation into BTC, mitigating short-term volatility, thus looks all the more attractive.
Miners struggle against BTC
Further data from the largest publicly traded mining corporations supports the trend.
Versus their inception and even stock price at the time of their initial public offering, the vast majority are significantly lower in BTC terms.
Only BitFarms (BITF) is currently turning a profit as of December.
Nevertheless, the extent of progress among United States mining industry participants has been eye-opening, and as Cointelegraph reported, listing deals continue to flow in.
Texas, looking to become a mecca for mining, could see demand for power jump severalfold by next year.
