Bitcoin will continue to be the leading currency in the digital asset market, according to Lyn Alden, a well-known equity research analyst, and investment strategist.
In a recent interview with the “What Bitcoin Did” podcast, Alden stated that central bank digital currencies would be Bitcoin’s strongest rival in the crypto race (CBDCs).
The digitization of money, according to Alden, who provides stock research and investing ideas for clients, is “inevitable,” and the key question facing the market will be which asset becomes dominant.
Alden stated that Bitcoin was the most probable candidate to overcome its flaws and achieve long-term success, including resistance to government control.
Here is What Alden Had To Say
As reported by The Daily Hodl, Alden said,
It checks off a number of boxes, and even the boxes it doesn’t check off are within sight of being able to be checked off as technology improves and as it just gets more widely held, and it becomes better. So I think longer term, I think Bitcoin… You can call it the fastest horse in the race.
Despite calling Bitcoin the most dominant crypto asset, Alden cautioned investors against allocating 100% of their portfolio to Bitcoin. However, she said it was “something silly” to not have Bitcoin at this point in time.
Alden also highlighted Bitcoin’s legitimate use cases as over-equities.
She concluded by saying
“I think in addition to being an investment, in addition to being saved, [Bitcoin’s] also insurance. It gives you that optionality in a way that other assets don’t.”