Bitcoin remains the best cryptocurrency investment according to Wall Street trader

While the overwhelming majority of the cryptocurrency market remains speculative at the best, Bitcoin remains one in all the sole cryptocurrencies which individuals are literally victimization.

Susquehanna International Group’s head of digital assets, Bart Smith, told CNBC “Fast Money” on Tuesday:

“If you want to own the asset that you can actually use today and that people are functionally using, it’s bitcoin. The use case for bitcoin is valid today, which is the currency of the internet.”

Indeed, no cryptocurrency or underlying blockchain is as battle-tested and traditionally tested as Bitcoin — however that doesn’t do a lot of to safeguard the market leader from its infamous volatility. many who got attached Bitcoin for the primary time in December are left reeling from serious losses. Explained Smith:

“People got very excited about bitcoin. They got really excited about all these other tokens and use cases. And all of the sudden you saw all of these smaller tokens, as people got excited about them, massively outperform. We got way ahead of ourselves.”

In fact, Smith believes that each one of the cryptocurrency market’s guarantees and technological advancements area unit still remote — sensible contracts and Lightning Network enclosed. He claimed:

“f you’re looking at these other use cases, smart contracts, or lightning network or these different technological advancements, I think people are coming to realize, those things are very difficult and aren’t coming anytime soon.”

 

As of at once, cryptocurrency’s killer use case is that of cross-border worth transfer — wherever Bitcoin contains a tested data of success.

“They use Western Union, traditional banks; It is slow and it is expensive. And there are people that can stop you from sending that money, whether that’s good or bad. With bitcoin, I can send money. It’s fast. It’s cheap. And frankly, no one can stop me.”