That was the advice dropped on us today by Charlie Lee, the founder and creator of Litecoin.
More from the release can be found here:
Some surprising advice considering he is the creator of another cryptocurrency.
Though, his logic makes a lot of sense...
Bitcoin is the first and most well known cryptocurrency in the world.
Bitcoin is also extremely limited/scarce, only ever having 21 million coins.
It has name recognition for the entire sector and it is one of the most secure and decentralized chains on the planet.
It also has some of the best developers/engineers working on the project.
Since Bitcoin has existed, it has had anywhere from 100% to roughly 32% of the entire cryptocurrency market cap.
Those lows were seen just recently at the beginning of this year.
The reason Lee recommends Bitcoin likely has to do with its longevity and its resilience.
Bitcoin has died roughly 327 times since it's birth and yet here it still is today.
It's the longest surviving coin.
For new investors that are just getting involved in the space, picking winners and losers can be very difficult.
It is often difficult to weed out the scams from the legitimate projects, and even then, sometimes the legitimate projects fail for one reason or another.
That is why it is paramount to build a portfolio starting with Bitcoin first before you add any more coins.
Though, hopefully you added it before today as it is flying right now.
Currently up over 10%, last seen trading just over $7,400. A far cry from the $6,000 level seen just a few days ago.
Then of course, after you buy bitcoin, you must add Steem, well cause, Steem. :)
https://steem-byteball.org/#7OIOYCUY3UZVKEAKCLPU4FWIUORJY224
Then just leave your receive address in the comments section below.
Stay informed my friends.
Image Source:
https://www.forbes.com/sites/cbovaird/2018/04/13/will-bitcoin-reach-25000-this-year/#64da3e1a2667
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