Highly respected equity research analyst and investment strategist Lyn Alden says that Bitcoin will continue to be the dominant currency in the digital asset market and outpace its competition. 

Speaking in a recent interview with the “What Bitcoin Did” podcast, Alden argued that Bitcoin’s greatest competition in the crypto race would come from central bank digital currencies (CBDCs). 

Alden, who provides equity research and investment strategies for clients, called the digitization of money “inevitable,” and said the primary question facing the market would be which asset becomes dominant. Alden noted that Bitcoin was the most likely candidate to overcome its shortcomings and be successful in the long term, including resisting the influence of government control. 

As reported by The Daily Hodl, Alden said, 

It checks off a number of boxes, and even the boxes it doesn’t check off are within sight of being able to be checked off as technology improves and as it just gets more widely held, and it becomes better. So I think longer term, I think Bitcoin… You can call it the fastest horse in the race. 

Despite calling Bitcoin the most dominant cryptoasset, Alden cautioned investors against allocating 100% of their portfolio to Bitcoin. However, she said it was “something silly” to not have Bitcoin at this point in time. 

Alden also highlighted Bitcoin’s legitimate use cases as an advantages over equities.

She continued, 

I think in addition to being an investment, in addition to being savings, [Bitcoin’s] also insurance. It gives you that optionality in a way that other assets don’t. 

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The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

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