“I Hold More Ethereum Than Bitcoin”
Famous investment consultant Ric Edelman shared his investment strategy, which he adopted and described as the best, for investing in the cryptocurrency market.
Edelman, an investment advisor and the founder of the Digital Assets Financial Professionals Council (DACFP), explained in a recent interview with Real Vision that there are currently quite a few cryptocurrencies. Edelman said that many investors, especially those new to the cryptocurrency market, might be better off sticking with Bitcoin and Ethereum alone. Explaining that he holds more ETH than BTC due to his belief that ETH can offer more usage areas to the commercial world, the famous investor used the following statements:
“I will tell people what I usually suggest they do and what the distribution of cryptocurrencies in their portfolio should be. Number one is just Bitcoin. It’s the biggest, it’s the oldest, and if the market crashes, it’ll be the last thing standing. The second is Ethereum, the second largest cryptocurrency that I believe has more commercial applications than Bitcoin. I personally hold more Ethereum than Bitcoin, but not by much because both are big things. You can build a portfolio of just these two, Bitcoin and Ethereum. Together, they represent 70 percent of the cryptocurrency market. They are the Coca-Cola and Pepsi of the cryptocurrency market. Just take two and complete the day.“
Edelman also explained that he is a fan and investor of the Bitwise Top 10 Crypto Index Trust (BITW), which aims to track a basket of the top 10 cryptocurrencies:
“Third, if you want to diversify your portfolio even more, Bitwise Top 10 Crypto Index Trust is for you. I’m a big fan of it, there’s so much detail on how these things work. I am an investor at Bitwise and a big fan of the company. They call it the S&P 500 (Standard and Poor’s 500) of the cryptocurrency market, and the index tracks the performance of the top 10 cryptocurrencies by market cap. So Bitcoin and Ethereum represent 70 percent of the fund, and then there are eight other cryptocurrencies that represent fast-growing cryptocurrencies, as the biggest ones may not always be the fastest gainers.“
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