Bitcoin’s Silver
Charlie Lee created Litecoin as a “cheaper” and faster alternative to Bitcoin, much like silver is to gold. He has often referred to Litecoin as Bitcoin’s silver. I have a soft spot for Litecoin as it was one of the first digital assets I ever owned. It has survived and remains among the Top 30 assets, according to market capitalization. Litecoin may no longer be in the Top 10, but it is high enough to stay relevant.
It is important to note that Litecoin exists as a shadow of Bitcoin, both in its origin and use case. Bitcoin exists primarily as a long-term store of value asset. Often touted as gold 2.0, it remains a favorite among long-term investors. Litecoin and Bitcoin investors share a similar mindset. They see their asset of choice in a similar light.
In yesterday’s article, I mentioned investors and their view of ETH once Bitcoin becomes oversaturated. I believe that traditional store of value investors will choose assets like Litecoin over Ethereum. In other words, a new breed of investors is about to be born. There are many predictions regarding Bitcoin and a million dollars.
What potential investors need to understand is that after a certain point, Bitcoin’s upside is limited. Once BTC hits $300K, returns become minimal, at least by Bitcoin standards. Investors will begin looking for the next best thing. According to Michael Saylor, there is no second best. However, there is always a second best.
This is when Litecoin will attract attention. It might take some time to materialize. However, that simultaneously provides an extended window of opportunity for early investors. Litecoin hoarders are currently able to stack LTC below $100, which may, in time, be seen to be a bargain. As with any investment, the best time to begin is before it becomes obvious.
Bitcoin has, for ages, been the obvious investment for many of us. However, for the mainstream, it’s been the obvious choice since 2020. In other words, it’s been the obvious choice for some time now.
Final Thoughts
This might be a good time to begin considering LTC as a long-term investment. Alternatively, a good time to mine LTC. Either way, accumulating LTC is reasonably inexpensive in light of its future potential. These are merely my views. Please do your own research and do not consider this investment advice. All the best, enjoy the holidays, and I will see you in the next one!
Sapphire Crypto 