The first crypto asset most people purchase is Bitcoin. It has the highest market capitalization. It has way more search interest.
But Bitcoin is not all there is to the crypto sector. There is about $160bn of market value in the crypto sector outside of Bitcoin.
The “non-Bitcoin” portion of the crypto sector has risen over $100bn in 2020 and is up 2.7x this year.
Bitcoin is up about 2.2x in 2020.
What seems to happen is that individuals, and increasingly institutions, purchase Bitcoin to start their crypto portfolios and journeys, but over time they move some of their gains into other assets.
According to Coinbase, there are now 24 crypto assets with a market capitalization of greater than $1bn. I expect that list to expand greatly over this crypto bull run we are in that started this past spring.
We are starting to see sectors of the economy decentralize using blockchain technology, starting with the finance sector, naturally. This is a ten to twenty year trend that is just getting started. And owning crypto assets is the way to play that trend. Starting, but not ending, with Bitcoin.
