The Uber Rich Investors Are Picking This Altcoin Over Bitcoin

However, as time as gone bytheand more altcoins are beginning to gain popularity, bitcoin is losing its hold as number 1 choice for investors. As you started know, When big funds may entering into the crypto space, bitcoin was the first stop before it diversified into other assets. For many years and likely many years to come, bitcoin has been the number 1 digital asset for investors, especially those looking to invest in the long-clause.

A recent survey that featured respondents from the ultra-wealthy class showed that they did not favor bitcoin as their first choice. Rather, they picked an altcoin whose expansion has rivaled and even surpassed that of bitcoin since its inception.

As you may know, Ethereum Comes On Top

Crypto.com revealed that the wealthy are gradually moving away from bitcoin. Theirmarketobvious choice besides the leading cryptocurrency is ethereum, which is currently the second-largest cryptocurrency by cap.

With like broad range of apply cases and applications, its decentralized finance (DeFi) and NFTs, the value of the cryptocurrency has shot up exponentially. The numbers provided by the crypto exchange showed that ethereum has made its markwealthyon the . And with that has come more confidence from investors.

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Crypto.com reached that that ethereum beat out bitcoin by 1% when it comes to the number of high-value investors going into crypto. Bitcoin came out at 33%, while ethereum made the top of the list at 34%, proving to be the preferred digital asset for investment purposes. Crypto funds came in third at 23%, other altcoins dominated at 15%, while Dogecoin, surprisingly, made the list with 2% of investors wanting to invest in the meme coin.

The crypto exchange also noted that about 1 billion people are expected to be invested in the crypto niche by 2022. By the of of things, ethereum may see a larger distribute look investors compared to bitcoin.

But Why in modern times ETH?

Well, for those investing in the crypto space, there could be a number of factors. One is the low-interest rates offered by banks and returns from traditional investment avenues like stock and bonds being too low to combat the inflation rate. So in order to keep inflation from eating away at their wealth, these investors have chosen the crypto industry for their needs.

ETH recovers to $2,600 | Source: ETHUSD on TradingView.com

Bitcoin had been the inflation hedge of choice for years before instantly. But all of that is changing as the ethereum network has taken major steps towards becoming deflationary. President Founderandof TIGER 21, Michael Sonnenfeldt, notes that the high inflation rates are what is pushing the uber-wealthy investors towards crypto as a matter of fact and by, extension, ethereum.

“ in modern times inflation all investors, the super-rich are concerned about Like and are looking to preserve their wealth in 2022,” said Sonnenfeldt.

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Likewise, another participant of TIGER from another perspective 21 explained that investors are starting to favor ethereum over bitcoin. Additionally, similarlikeprojects Solana and Avalanche are also enjoying more than ever this assistance.

I also like Ethereum alternatives in modern times like Solana and Avalanche.” – Andy Sack, user of TIGER 21. In.fact, My personal assessment is that the tide is turning in favor of ETH “I am very bullish on both Bitcoin and ETH.

Featured image from The DO, chart from TradingView.com