Bitcoin had a fantastic 2019.
It was the best performing asset class last year … and by a mile. It rallied nearly 270% to its high in late June. And even with a fourth-quarter pullback, the crypto closed the year up 92%.
That’s a phenomenal year for the index, but still only about one-third of what bitcoin did.
You might think bitcoin’s rally can’t be beat. It can. Believe it or not, there are even more impressive winners out there.
I’m talking about altcoins — basically every other cryptocurrency aside from bitcoin.
Altcoins are smaller cryptocurrencies, and much more unknown in the investing world. Skeptics like to point out that if we have bitcoin, why do we need the hundreds of other “altcoins” on the market? Surely they’re all just scams or fantasies, right?
I’m here to let you know that might be the single most ignorant, most expensive belief on the planet right now. It could easily cost you $1 million in lost profits over the next 12 months.
Here’s why …
Right now, there’s a fuse being lit under the altcoin market.
This fuse will set off one of the largest explosions of wealth in modern history. People who invest modest stakes in altcoins will make millions of dollars.
That’s because altcoins aren’t cryptocurrencies in the way most people think about them. They are actually investments in one of the most valuable, most revolutionary technologies ever created.
Remember, the underlying technology behind bitcoin and altcoins is blockchain. You’ve probably heard all the buzzwords surrounding blockchain, but I prefer to say blockchain technologies are just really, really, really valuable software.
Software programs are one of the greatest forces for wealth creation on Earth. And I’m not talking about conventional wealth creation … where it takes you 30 years to save up $1 million.
I’m talking about wealth creation on steroids … where investors can make $30 million in one year. I know that sounds outlandish, but just take a look at this chart:
The orange line at the bottom is bitcoin. In one week, it rallied 9%. That’s a fantastic one-week return. You would make 468% in a year at that pace.
But take a look at the other lines. Those are altcoins … and they outperformed bitcoin exponentially.
Bitcoin Cash (the green line) rallied 28%.
Zcash (the red line) climbed 54%.
And Dash (the blue line) was up an unbelievable 108% — in one week!
The opportunity in altcoins cannot be beat.
Don’t get me wrong. I love bitcoin. I own it myself, and I see a lot of upside potential in the years ahead.
But the upside potential in altcoins is even greater. At the end of the day, they represent a new chance to profit from some of the most valuable software programs ever created. I like to describe them as the oil of the 21st century as they’re about to mint another generation of millionaires — in short order.
The tsunami of wealth that’s coming with altcoins and the blockchain technology backing them up is due to their ability to make our time vastly more efficient and productive. That’s the goal of any great business model.
Early investors in the best altcoins are like venture capitalists backing the next Microsoft (NASDAQ:MSFT), Apple (NASDAQ:AAPL), or Alphabet (NASDAQ:GOOGL).
It’s okay if most folks simply don’t understand the massive opportunity here. Those in the know understand how valuable software programs that disrupt entrenched, inefficient models and price gouging companies can be — and the life-changing amount of money they’re about to create.
— Matt McCall
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Source: Investor Place