Will ADA overtake Bitcoin? This why I believe in this thing

Considering all the fuzzy around BTC, Elon Musk criticism about Carbon etc etc. I am totally biased by the great technology and eco-friendly approach of Cardano. Researching around I’ve found a lot of good reasons justifying the strengths of ADA and I would like to see if more people are on the same page as me.

Cheers!

Hmmm. :thinking: I don’t really know much about Cardano but I’ve heard my friends mention it in crypto conversations before. :thinking: I hope you don’t mind but I would love to know more reasons why you think it can overtake BTC. :blush:

Yes, the case for ADA increasing in value is strong. Though the question can be interpreted in two ways.
First - will the price of an ADA token exceed that of BTC? Well, ADA is $1.73, and BTC is $36,300. So the entire Crypto market capitalisation would need to move from its current value of $1.67 trillion by over 20,000 times for this to be the case, or BTC would need to fall to a value of, let’s say $1.72 per token. I do not think either scenario is likely.

Second - is the market capitalisation of ADA likely to overtake that of BTC? BTC MCAP today is $630 billion whereas the same for ADA is $55bn. So ADA would need to increase its value by $630/$55 = 11.4 times, whilst the value of BTC would need to remain static. Whilst I do not believe the value of ADA will exceed that of BTC, I do believe that ADA will make part of its journey north faster than BTC might. And that comes down to timescale.

I bought ADA at $0.055 last year and was delighted to sell it all in Dec20 for a 160%+ profit. I converted it into BTC. In April, I bought a smaller sum of ADA at $1.255. In any other market on earth, nobody contemplates buying an instrument at over 20 times its last year’s value, but in both cases I followed an accumulation plan based on some rules I set up mid 2020. The rules have only slightly changed. I hold six crypto currencies, and am about to change that to holding 10 cryptos in 80% of our portfolio, and an indeterminate amount in the remainder 20% of the portfolio. The 80% is for long term holding and the 20% is for mooning without sticking my a** too far out of the car window. :grimacing:

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