Bart Smith of Susquehanna international group advices all investors not to abscond from bitcoin, which he also referred to as the mother of all coins, in this speech of his:
“If you are thinking of decamping from Bitcoin to invest in the various altcoins anticipating higher returns, don’t.”
He is simply trying to say that bitcoin is still the best alternative for newbies and already made investors, and it will never stop dominating the market. He referred to the rise of altcoin at the end of last year as “indefinite” because he believed that investors were just excited above the whole new development and use cases. However, the market is gradually realizing that these developments and will take many years to manifest and many are now switching back to bitcoin.
Smith is the head of digital assets at the multinational trading firm and also a well-known investor in crypto world, in one of his interviews, stated that bitcoin’s advantages is being used today unlike other altcoins whose value are still unfounded opinion. He also talked about the fate of the digital currency, bitcoin, in the United States as it is being used to trade against the US dollar while in other countries, many people used altcoins to purchase bitcoin. These and many other reasons, makes bitcoin stand out from other 3000 coins that are existing today.
He also talked about bitcoin replacing the old traditional method of sending money over boarders, with its fast and cheap feature, Smith is proud to say that bitcoin has successfully replaced western union and moneygram.