See More

Top Trader Prepares to Sell All Altcoins for Bitcoin

2 mins
Updated by Michael Washburn
Join our Trading Community on Telegram

In Brief

  • Crypto influencer Ran Neuner opted to sell his altcoins for Bitcoin, convinced that Bitcoin's potential will dominate the next bull market.
  • Neuner believes that Bitcoin's recent technical advances have transformed it into a powerful competitor against Ethereum.
  • His decision to shift investments from altcoins to Bitcoin echoes his belief in the cryptocurrency's superiority.
  • promo

In a shocking turn of events, renowned crypto enthusiast Ran Neuner, once a die-hard altcoin maximalist, recently revealed on a podcast that he’s liquidating his altcoin holdings in favor of Bitcoin.

Neuner’s change of heart results from a profound realization about the potential narrative of the next bull market.

Bitcoin: The Future’s Gold

Neuner believes that due to impending governmental blunders, ranging from economic collapses to escalating geopolitical tensions, investors will flock to secure assets.

“I think that governments are going to do crazy things. And I think when governments are going to want to do crazy things, I think that people are going to flock to gold,” Neuner explained.

Gold, traditionally the preferred safe haven during turbulence, has seen significant appreciation recently. The rising gold prices, Neuner believes, indicate that investors are bracing themselves for possible governmental missteps.

Gold US Dollar Price: sell altcoins
Gold US Dollar Price. Source: TradingView

However, Neuner also foresees a “ragged moment” for gold—a point when Bitcoin will surpass it as a preferred safe haven. Gold, despite its longstanding status, is not verifiable on-chain.

Central banks may claim to have a certain amount of gold, but without on-chain verification, this cannot be proven conclusively.

Gold Reserves Worldwide: sell altcoins
Gold Reserves Worldwide. Source: Statista

Neuner theorized, “somewhere, a government or a central bank will do something stupid around gold…. People are going to flock to Bitcoin.” This significant shift in investor behavior could be an instrumental moment for Bitcoin.

Bitcoin’s Evolution: A New Investment Frontier

Not only is Bitcoin an impending safe haven, but its recent evolution also excites Neuner. He pointed out the launch of Ordinals, giving Bitcoin increased functionality similar to Ethereum.

“Bitcoin has pivoted from being a store of value only to being a competitor to Ethereum,” he enthused.

Indeed, the ability to issue tokens on Bitcoin, run smart contracts, and the introduction of a Bitcoin virtual machine have significantly changed the crypto landscape. Even Michael Saylor, the former CEO of MicroStrategy, has declared the emergence of BRC-20 tokens “bullish.”

Neuner’s excitement, however, does not end with Bitcoin’s technical advancements. His decision to sell his altcoins stems from his belief that investing in Bitcoin and the infrastructure being built around it offers a better prospect than small altcoins.

“We have really, really, really gone into a new era now on Bitcoin… Would I rather be investing in small altcoins somewhere else? Or would I rather be investing on amazing infrastructure being built on the Bitcoin ecosystem?” he asked rhetorically.

When to Sell Altcoins to Prepare for a Bitcoin-Dominated Future

Although excited, Neuner also foresees challenges ahead, particularly around Bitcoin’s scaling abilities. Nonetheless, he believes investors must prepare for this impending revolution by accumulating “dry powder” or investable cash.

Neuner warned that waiting might mean seeing other token prices drop while Bitcoin and its tokens skyrocket. His advice? Get into Bitcoin and its burgeoning ecosystem now.

This sudden shift in perspective from a dedicated altcoin enthusiast underscores the rapidly changing dynamics in the crypto market. As Bitcoin evolves, it could dominate the next bull market narrative. Still, only time will tell.

Top crypto platforms in the US | March 2024
Coinbase Coinbase Explore →
AlgosOne AlgosOne Explore →
Chain GPT Chain GPT Explore →
iTrustCapital iTrustCapital Explore →

Trusted

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

Frame-1934.png
Bary Rahma
Bary Rahman, a talented journalist, graduated from New York University with a degree in Journalism. Skilled in SEO, she has worked with CNN, showcasing her investigative skills and storytelling abilities. In addition to her journalistic accomplishments, Bary has contributed her expertise as a content writer for Binance, crafting insightful articles on the dynamic crypto industry. Her unique fusion of journalism and SEO makes her a versatile and highly respected figure in the industry.
READ FULL BIO
Sponsored
Sponsored