For many years and likely many years to come, bitcoin has been the number 1 digital asset for investors, especially those looking to invest in the long-term. When big money started entering into the crypto space, bitcoin was the first stop before it diversified into other assets. However, as time as gone by and more altcoins are beginning to gain popularity, bitcoin is losing its hold as the number 1 choice for investors.
A recent survey that featured respondents from the ultra-wealthy class showed that they did not favor bitcoin as their first choice. Rather, they picked an altcoin whose growth has rivaled and even surpassed that of bitcoin since its inception.
Ethereum Comes On Top
Crypto.com revealed that the wealthy are gradually moving away from bitcoin. Their obvious choice besides the leading cryptocurrency is ethereum, which is currently the second-largest cryptocurrency by market cap.
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The numbers provided by the crypto exchange showed that ethereum has made its mark on the wealthy. With its broad range of use cases and applications, like decentralized finance (DeFi) and NFTs, the value of the cryptocurrency has shot up exponentially. And with that has come more confidence from investors.
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Crypto.com reached that that ethereum beat out bitcoin by 1% when it comes…