this is an underrated point. i've heard people say something like: "even if we think cryptocurrency has a future, we don't know if bitcoin will be the ultimate winner. it could be some other cryptocurrency. therefore, the risk of bitcoin as an investment is very high. it can fail even if cryptocurrency succeeds." but this argument fails to note that if you are involved in cryptocurrency, then you are in a very good position to adapt to the changing landscape whether bitcoin retains its marketshare or not.

for example, if you own 1 bitcoin, and you see that monero fixes a very serious bitcoin flaw, then how much does it cost to hedge against the possibility that bitcoin loses to monero?

the answer is <$6.50

all you have to do is buy an equivalent stake in monero. which is currently less than 1 XMR.

if you watch the top 10 list of cryptocurrencies carefully and spend time learning about each new entry, then you will never be taken by surprise. you will know which ones are a real threat to bitcoin, and which ones are pump and dumps that can be ignored. because the list of coins that are an actual threat to bitcoin is so short, the cost of hedging is not too expensive.