In recent discussions, Jason Pizzino, a Bitcoin maximalist and real estate investor, urged investors to reconsider their holdings in altcoins such as XRP and Cardano (ADA).
Pizzino’s argument was due to his belief that Bitcoin offers better long-term returns than these altcoins. In a post on X, he encouraged his followers to exchange their underperforming XRP, ADA, and Polkadot (DOT) tokens for Bitcoin, citing its superior performance potential.
Divesting XRP and ADA for Bitcoin
He noted that it was not too late for investors to make the switch. According to the Bitcoin maxi, these altcoins are “laggards,” suggesting they have consistently underperformed in comparison to Bitcoin.
It’s not too late to swap your laggards $XRP $ADA and $DOT for better-returning assets like Bitcoin.
— Jason Pizzino 🌞 (@jasonpizzino) October 14, 2024
Pizzino’s comments were aimed at those holding these assets in anticipation of a price surge but feeling frustration due to their underperformance. Notably, multiple XRP and Cardano investors have faced this issue amid the ongoing market struggles.
https://x.com/thecryptobasic
For instance, currently trading for $0.54, XRP is down 11% this year. Also, Cardano has collapsed by a steeper 39% in 2024. Meanwhile, Bitcoin is up 55% within the same timeframe.
However, historical data suggests all hope might not be lost for these assets. Notably, each bull run, Bitcoin typically outperforms altcoins during the first phase before these assets record astronomical surges in the altcoin season. XRP witnessed this in 2017, when it spiked 60,000% to $3.31.
One investor challenged Pizzino’s advice, pointing out that XRP might currently be at its lowest point, and selling at the bottom could lead to regret.
The investor questioned the logic of swapping XRP when its value had already dropped. Pizzino countered this argument, stating that XRP’s bottom has been continuously declining for seven years, highlighting its consistent downtrend.
Black Swan Capitalist Host Responds
Notably, Vandell Aljarah, host of The Black Swan Capitalist, also responded. He expressed skepticism toward Pizzino’s stance, noting that altcoins typically have a higher percentage increase than Bitcoin during bullish cycles.
The percentage increase that alts have is greater than Bitcoin, Bitcoin could do 2x to 5x at most, and most altcoins easily do more than 10x during a crypto bull run so what type of technical analysis are you doing?
— Vandell | Black Swan Capitalist (@vandell33) October 15, 2024
Aljarah argued that while Bitcoin could potentially double or quintuple in value, altcoins like XRP and ADA have the potential to multiply by ten or more during a bull run. He believes Pizzino’s analysis overlooks the explosive gains altcoins can achieve during market upswings, which could exceed Bitcoin’s more moderate growth.
Another investor highlighted similar sentiments, expressing hesitation to swap XRP and ADA for Bitcoin. This investor explained that she was already significantly down on their investments in XRP and ADA, with their holdings valued at one-third of her initial investment.
She speculated that while Bitcoin might double or triple in the near future, ADA could see a much higher return during a bull market. The market participant questioned whether switching to Bitcoin at this stage would be wise when altcoins have historically provided larger gains.
Long-Term Cardano and XRP Criticisms
Pizzino has always criticized both XRP and Cardano. He previously stated that XRP would need to outperform each of the top 20 altcoins before making any significant gains and expressed doubt about its potential to do so.
Last month, the Bitcoin maximalist also pointed to the years of underperformance that XRP has experienced since it dropped from the $3.31 peak in 2018, describing it as being in a “losing battle” for over six years.
In addition to XRP, Pizzino has been critical of Cardano, questioning its ability to deliver substantial returns. In June, he expressed doubts about ADA’s potential to achieve a fivefold increase, even going so far as to suggest that memecoins might offer better prospects than Cardano.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
Source: https://thecryptobasic.com/2024/10/15/real-estate-investor-advises-investors-to-sell-xrp-and-cardano-for-bitcoin-heres-why/?utm_source=rss&utm_medium=rss&utm_campaign=real-estate-investor-advises-investors-to-sell-xrp-and-cardano-for-bitcoin-heres-why