I wrote an article a couple of weeks ago in which I asserted that I didn’t think Bitcoin was in a bubble — especially over a long term — but I also didn’t think it was a great investment opportunity because of its sudden and ever-growing popularity.
The best investments for me are those that no one is looking at, or even better, actively running away from. And in that light, I proposed Ripple (XRP) as an interesting investment opportunity for people who still wanted to be involved in crypto, but weren’t so sure about the inflated nature of the three big guys (BTC, ETH, LTC). Ripple is a stable, well funded company backed by many large banks around the world. When I caught up with one of my friends a few days later he called it the “banker’s blockchain;” it seems that many early adopters of blockchain tech are suspicious of Ripple as a result of its close ties with the established banking industry. Regardless, the price of XRP at that time had not been affected to any large degree by the increasing pressure on other markets, so for a value-oriented investor like me it seemed like a good opportunity.
After publishing that article, I went out and took my own advice. That was November 29th.
I fully expected to be holding XRP over the long term, but when I got up this morning and checked the charts, I was shocked! It seems like the public eye has branched out from the major crypto players, and exploded into the XRP market.
I sold my holding this morning for a very handsome 300% return. I expect XRP will continue to rise in the long term, but I won’t be sticking around for long enough to find out. I’ve made my money and am off to look for other opportunities!
Have any ideas? Comment them below!