Famous technology expert Anders Bylund announced that he is buying ETH and these coins, which he sees as risk-free. cryptocoin.com We have compiled the expert’s statements for you.
Technologist turns to stablecoins
Theoretically, a solid stablecoin should be as secure as a pile of ordinary dollars, according to the expert. It is designed to meet the value of a fiat currency, typically the dollar or euro, with a small margin of error. These tokens act as digital engine oil for the financial systems of crypto trading exchanges and services.
Converting monetary value from one cryptocurrency to another or between the fiat and crypto worlds can be costly and slow when it comes to real dollars and cents. Turning the money flow into a useful stablecoin can achieve the same effect with lower costs and faster execution.
In order to give investors a reason to fund this nifty tool, stablecoins can come with benefits. In the Expert’s Example, popular stablecoin Tether carries solid interest rates when held on crypto platforms like Crypto.com or CakeDeFi. Widely supported stablecoins such as Tether and USD Coin can also be effective means of payment given their stable values and low transaction fees.
In general, if you like to hold large amounts of cash in savings accounts, certificates of deposit and other ultra-stable value stores, actively owning stablecoins may be your style. You should also make sure that the cryptocurrency you choose is backed by solid collateral and managed by a solid organization.
Cash reserves converted to Bitcoin
Michael Saylor, chairman of the board of data analytics company MicroStrategy, has converted all of MicroStrategy’s cash reserves to Bitcoin (BTC), adding more from the leading cryptocurrency through many different sources of funding. The company is transferring cash flow from its software business to more Bitcoin, while also transferring the money it makes by selling new debt and stocks on the open market.
According to the latest count available, MicroStrategy has managed 132,500 Bitcoins, currently worth about $3.1 billion. It is one of the largest collections of Bitcoin in the world and has only been surpassed by countries like China and the Grayscale Bitcoin Trust mutual fund.
According to Saylor, Bitcoin is the only cryptocurrency that can replace traditional currencies and gold as a global form of money. From this perspective, Bitcoin appears to be the only safe and stable store of value on the market today. As Bitcoin transforms into this worldwide monetary system, all other currencies will lose value by comparison. As the dollar falls, dollar-denominated stablecoins will also fall. This is why a Bitcoin ‘maximalist’ like Michael Saylor argues that Bitcoin is the only truly stable investment today.
Better tools could emerge, someone could find ways to circumvent Bitcoin’s layers of encryption, governments could put a heavy regulatory finger on the leading crypto name, etc. Also, the expert said, ‘I’m not saying that any or all of these risks will materialize, but I would recommend that you approach Bitcoin (and all investments) more cautiously than Michael Saylor has shown.’ he added.
Expert’s portfolio with ETH and other coins
According to the expert, Tether, Bitcoin or any other cryptocurrency is a risky strategy. The expert stated that he currently owns more than a dozen cryptocurrencies.
Bitcoin is the expert’s largest crypto asset, followed by ETH, Ripple, and Polkadot. But nothing is guaranteed, according to the technologist, and a promising group is making smaller investments in cryptocurrencies. Other names are more speculative ideas that may or may not work in the long run, according to the expert.
Finally, world-renowned technology expert Anders Bylund gave these suggestions to those who want to create a risk-averse crypto portfolio.
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