Forget Shiba Inu: This Much Safer Cryptocurrency Could Make You Rich

Things can happen fast in the crypto world. Few other assets capture this more than the meme coin, Shiba Inu (SHIB 3.78%), which seemingly came out of nowhere and stole the spotlight in 2021. At one point, the token was up more than 60,000%. Yet, as fast it rose, it then plummeted and remains more than 85% off its all-time high.

Shiba Inu’s fall from the limelight was likely inevitable as the market came to understand its creation was more of a farce, and the token lacked any substantial fundamentals. But just because Shiba Inu has tumbled doesn’t mean there aren’t other valuable opportunities to capitalize on. If you’re in search of a cryptocurrency that goes beyond mere hype, it’s time to redirect your focus to a more robust contender and the one that started it all: Bitcoin (BTC 2.16%).

Image source: Getty Images.

Bitcoin’s safety net: Decentralization and security

Some of the primary reasons to consider Bitcoin over meme coins like Shiba Inu are its inherent characteristics that promote longevity. Bitcoin operates on a decentralized network void of any controlling party — a stark contrast to meme coins often overseen by a group or community of developers. This decentralization ensures that no single entity can manipulate or undermine the integrity of the system. In the case of Shiba Inu, its fate could easily be influenced by the decisions of a centralized group, making it inherently riskier.

Bitcoin’s security is another critical aspect. With a vast network of miners and nodes around the world, each contributing to the network’s security, Bitcoin has proven resilient against any attacks and vulnerabilities. To date, Bitcoin’s blockchain has never been compromised, a feat no other cryptocurrency can claim. Not to mention, it has processed trillions of dollars in transactions for more than 15 years without a single hiccup, making it the safest bet for investors concerned about the risks associated with cryptocurrencies.

Unlocking true long-term potential

Beyond its safety features, Bitcoin offers substantial long-term potential for investors. Its finite supply of 21 million coins sets it apart from meme coins that often flood the market with tokens. In a world where fiat currencies are becoming constantly debased, this scarcity has become a driving force behind Bitcoin’s price appreciation.

Amplifying Bitcoin’s finite nature is the cyclical reduction in its inflation rate. Known as the “halving,” this process occurs approximately every four years and further contributes to Bitcoin’s long-term value. By reducing the reward given to miners, the halving slows the rate at which new bitcoins are minted, creating scarcity and often triggering a surge in price as the market attempts to find an equilibrium between supply and demand.

Not only does the halving significantly benefit Bitcoin’s long-term prospects, but broader trends in cryptocurrency adoption also favor Bitcoin. Over the years, cryptocurrencies, once viewed with skepticism, have become more accepted and appealing. This evolution is most evident in recent developments related to some of Wall Street’s biggest names, such as BlackRock and Fidelity, applying for spot Bitcoin exchange-traded funds (ETFs). Pending approval, a spot Bitcoin ETF would democratize access so that investors can add the cryptocurrency to their 401k(s), pension funds, and individual retirement accounts (IRAs).

The much safer option

Meme coins have become a natural player in today’s crypto economy. They aren’t going anywhere anytime soon, and their prevalence will likely only increase. But this doesn’t mean they deserve any of your attention.

Instead, focus on cryptocurrencies that provide novel utility and possess robust fundamentals. For investors looking to keep it simple and benefit from crypto’s evolution, few other options stand out as much as Bitcoin. With its high levels of decentralization and security, a large market cap, and a history of delivering returns, Bitcoin stands as one of the few pillars of stability in the crypto universe. For those looking beyond the hype, Bitcoin is not just another cryptocurrency; it’s a strategic move toward lasting wealth.

RJ Fulton has positions in Bitcoin. The Motley Fool has positions in and recommends Bitcoin. The Motley Fool has a disclosure policy.

Be the first to comment

Leave a Reply

Your email address will not be published.