I have been in the market for awhile, and always hear the same mantra about trading to hold more Bitcoin and not Fiat. I bought into the same mentality for a long time, but I'm changing my tune. In almost every industry, first generation leaders are replaced by competition. From Sears, Kmart, Nokia, Motorola, Yahoo, MySpace, etc. Although Bitcoin is the current crypto reserve currency, I think that its dominance is threatened by ALT coins with faster, cheaper transactions and greater scalability. What do you think? Is it smart to hold Bitcoin as a long-term investment, or are there better choices among the ALT coins like Ethereum or Litecoin?
From my observation, Bitcoin will stay as number 1 for more than 3 years. BTC is still good for long term investing even staying on top is a very difficult task. I think it is normal that there will be other coins that will challenge your dominance of BTC. It is reasonable to diversify your portfolio having bitcoins 50% and altcoins 50% to hedge you from risk of BTC obsolescence.