With Bitcoin Topping $90,000, Beware Of Crypto Copycats Like Dogecoin And MicroStrategy

Logan Kane
26.17K Followers
(14min)

Summary

  • Bitcoin's value proposition is as strong as ever, but beware of middlemen and copycat investments like Dogecoin and MicroStrategy.
  • Bitcoin's price surge is driven by reduced supply, increased demand, plus potential government adoption, giving it continued long-term upside.
  • Dogecoin's recent rise is speculative and driven by memes and internet buzz about Elon Musk, but its fundamentals don't match Bitcoin's for stability and value.
  • MicroStrategy's stock is overvalued due to irrational investor behavior–it's far wiser to invest directly in Bitcoin through ETFs like IBIT.
Lion tries to hunt some zebra and impalas in Etosha national park, Namibia, Africa

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A friend of mine put some Bitcoin (BTC-USD) on a hard drive sometime in the 2010s. He soon forgot the password, but Bitcoin skyrocketed in price, turning a few-thousand-dollar hobby investment into lost treasure. He called me late last week with ecstatic news–the

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26.17K Followers
Author and entrepreneur. My articles typically cover macroeconomic trends, portfolio strategy, value investing, and behavioral finance. I like to profit from the biases and constraints of other investors.You can read some more of my work for free here.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of IBIT either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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