Why you should only hold Bitcoin

[avp2306]

Many forum members are responding to this thread sharing that as Bitcoin is already so large in market capitalisation, they are more likely to get a 100x or higher return by "investing" into altcoins, which is why they are "holding" it in their portfolio. I have a few challenges to this argument.

The first is that, you are not actually "investing". You are simply speculating that the price of an altcoin in its fiat value will increase so you can sell it. This is not investing, this is gambling, trading, or speculating. The second is, you are not actually "holding" it when you say you are. You are intending to sell it for profit, not hold onto it indefinitely. My topic of discussion here is that Bitcoin is the only coin you should legitimately hold indefinitely. There is no intention to sell it at any fiat price conversion.

I don't understand the point of buying an asset for holding it indefinitely. Why you would need that? And who would need that? People need money to buy goods and services, they don't need assets they will never touch, neither use during their lifetime. If they need something they won't touch, it would be more relevant to invest in paintings or housing for example. At least they could use it for something. In addition Bitcoin is less safe than physical assets, because it can be hacked, or you can lose it, if you lose your seed.

Also wonder why indefinite  time to hold since at first place we aim to get a profit from this investment and we should know when we sell also the target year we plan to execute that since if those investors doesn't have good plans on their holdings then provably they might fail.

Although I understand that its so good to hodl bitcoin but we should do a research to do something useful or have knowledge so no other thing can cut off our plans and we can stick until we reach those specific year then sell.
The asset you mention is good but for sure they would ignore that since what they know is they can earn a lot of money on bitcoin especially if they keep hodling since this is what has been said to them.

[1715633757]

1715633757

[dzungmobile]

I don't understand the point of buying an asset for holding it indefinitely. Why you would need that? And who would need that? People need money to buy goods and services, they don't need assets they will never touch, neither use during their lifetime. If they need something they won't touch, it would be more relevant to invest in paintings or housing for example. At least they could use it for something. In addition Bitcoin is less safe than physical assets, because it can be hacked, or you can lose it, if you lose your seed.

Hold for profit, not hold to die or hold to make it as inheritance for someone else.

Investment is tied with profit as a biggest purpose, and if as an investor, you say you don't care about profit, it's untrue. I agree with your counter back to that opinion, an investor must have clear strategy for investment.

Capital management, risk management and reserved money for things beyond investment. Then it will be easier to hold, but hold for chances to take profit, not hold forever.

DCA for purchases and DCA for taking profit are good idea.

Are you ready for the Bitcoin bull market? What's your plan? Some ideas for you

[GbitG]

I don't understand the point of buying an asset for holding it indefinitely. Why you would need that? And who would need that? People need money to buy goods and services, they don't need assets they will never touch, neither use during their lifetime. If they need something they won't touch, it would be more relevant to invest in paintings or housing for example. At least they could use it for something. In addition Bitcoin is less safe than physical assets, because it can be hacked, or you can lose it, if you lose your seed.

Hmm that's true but I don't understand this mindset. It is understandable for someone to keep holding their assets if they haven't bought them to gain profit with them, but if someone has bought an asset so that they can get some profit from it once it goes up, then it doesn't make sense to keep holding it when they are getting good profits from it even when they know they will get more opportunities for buying at a lower price in the future.

If someone is getting enough profits and they know that the market can start crashing very soon, they shouldn't hold in such situations. They should sell their assets, use some of it if they need and hold the rest of the liquid assets so that they can buy again when the market goes down because we know that Bitcoin moves in a cycle and if there is a bull run, there will be a bear run as well.

[Huppercase]

What I am ultimately getting at here in the theme of my post is that there is no other coin besides Bitcoin, which you can trust can be held over the long term. What are your thoughts?

You said a lot of paragraph but to me, you didn't say anything because holding Bitcoin isn't just all that, people hold Bitcoin because it's less risky when you look at it with other altcoins and it's mor more secure but you are saying another validations. People buy Bitcoin because it doesn't depend on other coins decisions but on its own, rest assure that if you hold Bitcoin in a year after halving you are likely to get a return under standard condition of markets.

However, altcoins are very risky, you are likely to lost your money invested if you are not proactive in your research and you might get scam aside from looking at what the market altcoin does. People don't feel safe when it comes to other coins but Bitcoin win this in every aspect which is why it remained the best coin over the years cryptocurrency has been in existence.

[Magic-Money]

Investment is a personal decision and choice which one has been make a personal research, which Bitcoin is the best Coin among other alt-coins and keep increasing in every four years of Bitcoin halving has already taken place. Therefore investing only Bitcoin is not too Smart. Because they're already established alt-coins in the cryptocurrency marketplace, that has been stabilize in the difference strong exchange market.

[LogitechMouse]

Re: Why you should only hold Bitcoin

Only a maximalist will do this. Holding Bitcoin, and Bitcoin only? Only they can do that.
As for most of us here, we might've a huge allocation on Bitcoin, but we aren't holding Bitcoin alone instead, we are holding some altcoins as well for profit.

You don't trust those top altcoins? You only trust Bitcoin because it's the top cryptocurrency, or because it's decentralized or whatever. I don't think that's a good argument to start with. I will not say a specific altcoin, but I don't think that not trusting them at all is good because after all, we need to diversify at least our portfolio to increase our earnings. At the end of the day, we including Bitcoin will all be sold for profits. Some altcoins can be a good long term hold as well especially those top coins.

Don't fantasize Bitcoin and tell here that it's the only coin that we can trust. Well there might be some here who only focuses on Bitcoin, and telling to other people to only buy Bitcoin just like what OP is doing, but we have different strategies in investing, and buying Bitcoin as well as altcoins is what works for me.

[OgNasty]

While I believe that Bitcoin should be a necessary part of any investment portfolio, I can’t agree that it should be your exclusive investment. Historically speaking diversified investors have always had more success and staying power than those who put all their eggs in one basket. While I believe in Bitcoin, I’m not mad at anyone who wants to diversify their digital investment portfolio.

[mirakal]

While I believe that Bitcoin should be a necessary part of any investment portfolio, I can’t agree that it should be your exclusive investment. Historically speaking diversified investors have always had more success and staying power than those who put all their eggs in one basket. While I believe in Bitcoin, I’m not mad at anyone who wants to diversify their digital investment portfolio.

You know it’s actually your own choice if you stick to bitcoin or diversify your investments. But if you are still a beginner, sticking to bitcoin will create more guarantees that you will end up with bigger profits most especially if you hold it for quite long years. Unlike if you risk your funds into altcoins, there will be more risks and pressure with these type of coins since they are just a pump and dump scheme, and you might only end up losing all your capital before you see your real profits in the process.

However, if you are talking investing in different assets like stocks or real estate, well I think it would be a good idea but as for me, I will only invest in them after having extra profits from bitcoin.

[dmamigo]

I have read many informative opinions from various people on this topic. I understand people love Bitcoin over any other alternative cryptocurrencies and this is absolutely fine.
Bitcoin is a store value and in my opinion, as well Bitcoin is like the USD of the global crypto industry if you try to see in that perspective.

Now, does holding Bitcoin only would help you? Is it a wise choice/decision? Well, this is also a matter of perception but whatever I have learned, one should not put all his capital in one asset. I know there are now multiple cryptos or tokens as per the OP, floating around but out of them there are few that will make it big like Bitcoin. To find this, take nobody's help because life is uncertain and unpredictable.
There is only one thing, just research. Don't read anyone else's research as this world is manipulative.

Holding Bitcoin or any other crypto that is highly volatile for the long term might be a mistake because of liquidity issues and FOMO effect.

Liquidity issue: You require some money and want to encash Bitcoin for some fiat but the market is falling. There is a possibility that you may not find a buyer because buyers will expect it to fall more and then they will buy.

FOMO issue: Whenever the price is falling and we sell it at a lower cost than the ATH(all-time high), most of the people will have this feeling, that the price might have gone up if I could hold it for a few more months maybe.

I would like to conclude by saying, just think, and research on your own. Don't hold on to any crypto for too long unless you don't care about the capital (this is a psychology BTW) and invest in other cryptos and any other blockchain products if your research says it has potential. Trust it.

[Gladitorcomeback]

While I believe that Bitcoin should be a necessary part of any investment portfolio, I can’t agree that it should be your exclusive investment. Historically speaking diversified investors have always had more success and staying power than those who put all their eggs in one basket. While I believe in Bitcoin, I’m not mad at anyone who wants to diversify their digital investment portfolio.

Exactly, because it's not wise to ignore the success of other cryptocurrencies just because you believe Bitcoin is the best. It is the best, no one is denying that, but it doesn't mean you should invest everything you have in it. There are hundreds of opportunities out there, and if you are in it for the profits, you need to explore those opportunities instead of being stubborn and thinking that you wouldn't invest in any other asset except Bitcoin because it is the best.

Just like you said, people who diversify their portfolios tend to earn more profit at the end because despite the fact that Bitcoin provides good returns, there are altcoins that can generate better returns than it because they have lower values which means more potential for them to gain higher values in the future.

[SickDayIn]

While I believe that Bitcoin should be a necessary part of any investment portfolio, I can’t agree that it should be your exclusive investment. Historically speaking diversified investors have always had more success and staying power than those who put all their eggs in one basket. While I believe in Bitcoin, I’m not mad at anyone who wants to diversify their digital investment portfolio.

Exactly, because it's not wise to ignore the success of other cryptocurrencies just because you believe Bitcoin is the best. It is the best, no one is denying that, but it doesn't mean you should invest everything you have in it. There are hundreds of opportunities out there, and if you are in it for the profits, you need to explore those opportunities instead of being stubborn and thinking that you wouldn't invest in any other asset except Bitcoin because it is the best.

Just like you said, people who diversify their portfolios tend to earn more profit at the end because despite the fact that Bitcoin provides good returns, there are altcoins that can generate better returns than it because they have lower values which means more potential for them to gain higher values in the future.

That is the issue, "if you are in it for the profits". Exploring alt coins as part of your long term holdings is still gambling and speculating that hopefully you'll hit big or significantly multiple what you've put in. Holding Bitcoin is a long term storage of wealth, and I believe Bitcoin is the only digital currency which will challenge the entire fiat monetary system altogether.

[Questat]

That is the issue, "if you are in it for the profits". Exploring alt coins as part of your long term holdings is still gambling and speculating that hopefully you'll hit big or significantly multiple what you've put in. Holding Bitcoin is a long term storage of wealth, and I believe Bitcoin is the only digital currency which will challenge the entire fiat monetary system altogether.

It is gambling if we choose hyped projects and shitcoins but if we are just about to invest in ETH, I don't think is a waste of time and money. Of course, it is a different assurance when choosing Bitcoin as we know that it is more profitable long-term and the belief that it will stay valuable many years from now. As we expect more adaptions, the more it gives us confidence that its price continue to increase as the demand keeps on rising as well. There are regrets in holding this is the thing we should understand rather than get into FOMO and panic when there are FUDs and market decline. 

[Natsuu]

While I believe that Bitcoin should be a necessary part of any investment portfolio, I can’t agree that it should be your exclusive investment. Historically speaking diversified investors have always had more success and staying power than those who put all their eggs in one basket. While I believe in Bitcoin, I’m not mad at anyone who wants to diversify their digital investment portfolio.

Yes there's no hate in it. But if you compare Bitcoin to other Altcoins now especially on new ones, it is safer to put your money now in Bitcoin, especially in some sort of market correction after creating a new ATH. That if price rally again leaded by BTC, risk will get lower and then that's a signal to diversify since more Altcoins will follow Bitcoin price action. That is for me, you keep your money and asset flowing so it may generate more money by value appreciating overtime.

[coolcoinz]

I agree with OP and this is how I usually describe things to people who tell me they should own altcoins because they're cheaper and have more potential to grow. I tell them that owning bitcoin may feel like something risky but owning altcoins is adding on top of that risk because altcoins react to problems of bitcoin and the whole cryptocurrency ecosystem, but their price also reacts to their own problems, problems of their inventors and even people who advertise them. There's no reason to add risk on top of risk.

[CryptoHeadlineNews]

Let's also take BNB as an example. A market capitalisation of $86.74 Billion and ranked as the #4 coin overall. It is developed and owned by a private company, Binance. Their objective primarily is profit for their company. Yes the owners have alterior and philosophical plans, but ultimately they need to keep their company profitable. They have offered some technologies, like Binance Smart Chain, and they have their own exchange, but we cannot forget that they MUST turn a profit on their projects as an organisation, and releasing a coin like BNB is to benefit THEIR interests primarily. They can and will change things as they please, you do not want to hold something where the rules can change at any moment.

And which is why Bitcoin remains the best and only asset/cryptocurrency suitable for long term investment, whereby it's investor could have rest of mind for fund security, unlike the rest altcoins which if you are unlucky likely to fall victim to scam project and lose all your money. Because just as we just crossed the 4th halve of Bitcoin, there is a every tendency it's price likely to skyrocket higher any moment from now, which is why this period is the best opportunity for people to accumulate as much Bitcoin as they can, because if it's price goes up, it will be difficult to accumulate as much as you will be privilege to accumulate now, as it has been predicted that the price of Bitcoin will likely hit $100k to $150k before the end of this year 2024.

[Sonia_123]

As a bitcoiner , you must have experienced or read about other cryptocurrency which difference are very clear like having a
Low cost fees,during transaction  the charges are very small which makes it easier and comfortable for it's users compared to other cryptocurrency .
Also it's Trading fees are low which makes more forex trader accept it and also want to hold unto bitcoin , it gives users more privileges during inflation and protects them from currency devaluation .
The security of Bitcoin is protected and secured by crypto graphy.their network can't be tempered by any one, their private keys , funds and transactions are secured except you tell any one, because of your carelessness , your funds and transactions are safe and it's decentralization method. Bitcoin investment is real, investing and holding bitcoin secures your future generations and remove them from lack of cash and poverty.

[yazher]

Bitcoin's popularity among all the altcoins is continuously increasing due to popular demand and you also have a scenario where its price remains on top despite all ugly accusations against by its enemies including banks and other sectors that get affected when Bitcoin emerges. Of all the cryptocurrencies currently available right now, Bitcoin is the only secured investment opportunity that you could keep in your crypto wallet without worrying about any prevention to withdraw it like your ATM card or being manipulated by its creators like ETH, BNB, and any other altcoins out there.

[CryptoBuds]

While I believe that Bitcoin should be a necessary part of any investment portfolio, I can’t agree that it should be your exclusive investment. Historically speaking diversified investors have always had more success and staying power than those who put all their eggs in one basket. While I believe in Bitcoin, I’m not mad at anyone who wants to diversify their digital investment portfolio.

Exactly, because it's not wise to ignore the success of other cryptocurrencies just because you believe Bitcoin is the best. It is the best, no one is denying that, but it doesn't mean you should invest everything you have in it. There are hundreds of opportunities out there, and if you are in it for the profits, you need to explore those opportunities instead of being stubborn and thinking that you wouldn't invest in any other asset except Bitcoin because it is the best.

Just like you said, people who diversify their portfolios tend to earn more profit at the end because despite the fact that Bitcoin provides good returns, there are altcoins that can generate better returns than it because they have lower values which means more potential for them to gain higher values in the future.

That is the issue, "if you are in it for the profits". Exploring alt coins as part of your long term holdings is still gambling and speculating that hopefully you'll hit big or significantly multiple what you've put in. Holding Bitcoin is a long term storage of wealth, and I believe Bitcoin is the only digital currency which will challenge the entire fiat monetary system altogether.

You don't join this market for profit because what are you here for? In addition, whether long-term or short-term investment depends on the project, no one is stupid to invest long-term in high-risk projects. We enter this market to make money, not to prove who is right or wrong and in my opinion, as long as whoever makes more profit is the winner.

By the way, you should give up the illusion that bitcoin will challenge the monetary system, I don't even see anyone mentioning it as a currency, people just consider it as an asset, an investment. Frankly, bitcoin's path to becoming a currency was doomed from the start.

[Gladitorcomeback]

I agree with OP and this is how I usually describe things to people who tell me they should own altcoins because they're cheaper and have more potential to grow. I tell them that owning bitcoin may feel like something risky but owning altcoins is adding on top of that risk because altcoins react to problems of bitcoin and the whole cryptocurrency ecosystem, but their price also reacts to their own problems, problems of their inventors and even people who advertise them. There's no reason to add risk on top of risk.

There is risk in trading altcoins, of course, but there are potential profits attached to that risk as well and that is what most traders strive for. So even though it's true that Bitcoin contains the lowest amount of risks when it comes to making investments in this industry, diversification can be a good thing in times because a lot of altcoins tend to have a higher growth level when compared to Bitcoin. After all, their prices are way lower than it so an investment of $1m in an altcoin would make it gain a higher value compared to an investment of $1m in Bitcoin.

This is why it is always good to at least have a few altcoins in your portfolio. I don't say one should invest in a lot of altcoins because I'm also not a fan of over-diversification, but I'd say that investing in Bitcoin alone would give you profits but having a diversified portfolio can perform better in times.

[mvdheuvel1983]

There are several reasons why we should hold Bitcoin only, Bitcoin is very trusted amd reliable I know that this has been said countless times yea, but we won't stop saying it, Bitcoin is one of a kind when it comes to the world of digital asset, though the percentage of bitcoin in terms of profit is sufficient in a short term holding, that's why it is advisable for everyone to tightly hold for a longer term, bitcoin has considered the world of coin and place itself high above any fiat currency and digital currency respectively, we can go on and on to virtualize the benefit of holding Bitcoin, i wont doubt the fact that people had benefited in altcoin too but Bitcoin remains the major coin to hold.