In a fast-changing industry, these are seven of the best cryptos to invest in.
October was a blockbuster month in the world of cryptocurrencies, with the asset class’s leading player, Bitcoin (BTC), surging by about 40%, according to data from CoinMarketCap. It wasn’t just Bitcoin that went parabolic in the month, with several other prominent coins on this list hitting all-time highs. The Shiba Inu (SHIB) coin, which debuted as a spin-off of the meme-based Dogecoin, went absolutely bonkers, gaining more than 800% in the month and leapfrogging Dogecoin (DOGE) in the process. Such unabashedly speculative, meme-based tokens, however, don’t stand up to scrutiny. Here’s a look at seven of the best cryptocurrencies to buy in late 2021, and the bull case for each.
7. Bitcoin (BTC)
Bitcoin’s recent surge was the result of a few catalysts, not least of which was the launch of the first Bitcoin-focused exchange-traded fund in the U.S. The Proshares Bitcoin Strategy ETF (ticker: BITO) began trading Oct. 19, with excitement over the continued mainstreaming of the digital asset driving BTC to an all-time high of $66,930 just a day later. Bitcoin’s invention in 2009 changed money forever and opened the door to blockchain-based, decentralized currencies not issued by any nation. Bitcoin’s first-mover status, its hard limit on a maximum circulation of 21 million BTC and its potential to become a store of value on the balance sheets of corporate America – a future which Tesla Inc. (TSLA) first hinted at with a $1.5 billion Bitcoin purchase announced in February – make it a must-own cryptocurrency.