Among the sea of digital assets, the best choice is clear as day.
The cryptocurrency market has gotten to such a size that it can no longer be ignored by investors. The entire industry is valued at $4.2 trillion (as of Oct. 8).
There are virtually an unlimited number of digital assets out there. Trying to choose where to park your hard-earned savings can seem like an impossible task. If this sounds like your current situation, the smartest idea is to keep things simple.
What is one of the best cryptocurrencies to buy now? It’s almost obvious where your money should go.
Image source: Getty Images.
Bitcoin remains the dominant cryptocurrency
Investors should consider buying Bitcoin (BTC -2.15%). It was the first cryptocurrency, now about 17 years old. And it’s the most valuable, with a blockchain network worth $2.4 trillion.
Bitcoin has long dominated the digital asset market. And this isn’t likely to change any time soon. Its market cap represents almost 60% of the value of the entire crypto industry. From top financial institutions and politicians to the average person, it gets most of the attention, too.
There is sizable upside over the next decade and beyond
The digital coin’s market cap of $2.4 trillion could one day reach and even exceed gold’s $27.3 trillion market value. Gold has the advantage of having been a primary store of value for thousands of years, and it’s something that controllers of large pools of capital are familiar with.
However, Bitcoin’s scarcity, portability, divisibility, and verifiability make it a superior asset.
Neil Patel has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin. The Motley Fool has a disclosure policy.
