Alts!...
Some of you have messaged me asking for my views.
A few comments:
1. I don't consider any other "crypto", or stock, or commodity, or currency, as a legitimate "alt" to Bitcoin. Perhaps gold comes closest, and we all know gold's shortcomings vs BTC.
2. By "alts" I believe people are in general referring to tokenized projects, which are often non-compliant with existing securities laws applying to stocks, being utility tokens, governance tokens, stable-coins or meme-coins.
I value all alts as I would any project I would invest into, or any company I would buy. Many are vastly overvalued, but some are now at or close to fair value. For those wanting my alt portfolio, here it is (I won't put any % allocation, but those marked with * I am particularly bullish on as 5-8 year holds for 10x or more gains...)
-Filecoin *
-Solana *
-Chainlink *
-Jupiter *
-Arbitrum *
-Lido
-Aerodrome
-Artificial Super Intelligence *
-Pancake Swap
-BNB *
-Sky *
-Convex Finance
-Avalanche
-NEAR
I won't go into specific details now, but happy to discuss. I only consider and buy legit projects which show real revenue and growth at a price that can be justified given my expectation of the life and growth of the project or protocol represented by the token.
Note Eth is not on the list. I just can't do it, with its size, competitive dynamics, and PE of over 400. I value it at most $500 per coin. Having said that, it would not surprise me if Eth does rise this next cycle (although again underperforming BTC by around 50%, as it has done last 2 cycles) - but it just does not meet my investment criteria. (I still hold a little - and it might well still outperform USD over the next 3 years. A rising tide will float all boats for a while at least).
