Mark Moss argues that no altcoin has ever hit a second all-time high when measured against Bitcoin, meaning none have beaten it over years. Some like Ethereum outperform Bitcoin briefly, but only with perfect timing and luck. For buy-and-hold investing, Bitcoin is the only crypto that consistently wins.
What other cryptocurrency should you buy? What's the next Bitcoin? Well, what if I told you there's not? What do I mean by that? Are you lucky? Are you feeling lucky? Because you have to be lucky if you want to outperform Bitcoin. Of the over 20,000 cryptocurrencies that are out there, not one has made a second all-time high priced in Bitcoin. What does that mean? That means Ethereum made an all-time high in 2018 and it's never recovered. Fill in the blank with your favorite cryptocurrency. It's never recovered. Now, sure, certainly Bitcoin has been outperformed by Ethereum, Cardano, whatever one over certain periods of time. And if you're smart and you're very lucky and you know exactly when to get in and exactly when to get out, potentially you can outperform Bitcoin if you don't lose your money. However, if you take a long-term perspective like I do and you plan to hold your assets for 3, 4, 5 years or forever like I do, then there has been no other asset that has outperformed Bitcoin in that time period. And I don't believe there ever will be.
