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Investing Heavily in Ethereum 2021

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Written by   2
1 year ago

As the price of Bitcoin continues to climb and alts continue to slide against Bitcoin I become more and more bullish about Ethereum. I am not yet moving any Bitcoin into Ethereum, but I am watching the chart for any signs of strength and am ready to jump in.

Ethereum Crypto's Playground

To me, Ethereum is like the playground of crypto right now. It is where most of the innovation is being made from Crypto Kittens, Gods Unchained, Initial Coin Offerings, and Defi.

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Microsoft has even announced recently that it will be using the Ethereum network to manage gaming rights and royalties.

While it remains to see which of these projects will have long term value and which will be a flash in the pan it is hard to deny most other smart contract platforms are continuing to play catch up when compared to Ethereum and I am excited to see what all the developers will continue to create on the platform.

Projects Will Catch Up to Ethereum

Andreas Antonopoulos uses the example of the automobile and how it was created and the rest of the infrastructure was developed around it.

I'm fine if you disagree but just like Bitcoin, I feel like Ethereum is growing and becoming a project that will continue to grow and succeed as the rest of the infrastructure grows around it.

After all, why would you build a network of gas stations and highways and interstates if the automobile was ever created? It is just a matter of time that smarter people than me will continue to make Ethereum smarter, faster, and more secure, with more use cases developed every year while continuing to reduce the circulating supply.

Eth 2.0 and Ethereum's Future

There is now over $1 billion worth of Ethereum locked up in Eth 2.0 and I am betting more and more Ethereum will continue to be locked up in the contract.

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Another thing to keep an eye on is the proposal by Vitalik to hard cap the Eth supply which could be huge for the value of Ethereum.

Consensys has a great article that covers all the improvements and growth the network saw in the bear market. It will be awesome to see what has changed from the beginning to the end of 2020.

Final Thoughts

I'm not in a hurry to sell Bitcoin for Ethereum as Bitcoin is continuing to look bullish with all the institutional investment and outpacing Bitcoin.

I will, however, take any additional funds that I have and will continue to dollar cost average into Ethereum over Bitcoin with those funds.

This isn't financial advice and just my trading plan heading into 2021. Are you interested in a certain alt for 2021 or do you think Bitcoin will continue to dominate the crypto show?

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