Trading Altcoins To Get More Bitcoin?

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In this video, I discuss why I think it's a bad idea to try to trade altcoins in order to get more Bitcoin.

The conventional wisdom is that you should buy altcoins (crypto other than Bitcoin) at the start of a bull market and then sell them for Bitcoin or fiat at the end of the bull market, as a way of outperforming Bitcoin.

This investment strategy makes a number of assumptions that may not turn out to be correct:

1) You can personally identify the beginning of the bull market
2) You can personally identify the end of the bull market
3) You are able to pick altcoins that outperform Bitcoin during the bull market, which may not happen because you are probably a bad trader or because huge inflows into the BlackRock Bitcoin ETF may cause Bitcoin to outperform everything else across the next few bull and bear markets
4) You are able to jump from crypto to crypto profitably, while compensating for short-term capital gains taxes that eat away at your returns
5) You don't get your crypto or fiat that is on a crypto exchange hacked, rugged, lost, frozen, etc as has happened with many crypto casinos including FTX and BlockFi.
6) You are able at some time in the future to exchange your altcoins or fiat for Bitcoin and successfully withdraw it to cold storage, without being stopped by withdrawal limits or government bans on self-custody.

Don't be the guy whose grandchildren have to sadly recount how he bought a dusty lot in the Nevada desert when he could have been buying a beachfront property in Malibu in 1950.

Don't be the guy who owned Cardano or Hex in 2023 instead of Bitcoin.

Don't be the guy who buys a proof of stake altcoin just weeks before the SEC sues the project in 2024.

Don't choose crypto.
Don't choose fiat.
Choose Bitcoin.

Choose the asset that people who are much smarter than you (like Michael Saylor and Ricardo Salinas) are buying.

Choose Bitcoin, and get on the winning team now before it is too late.

Not investment advice! Consult a financial advisor and tax advisor.

Reports of Ethereum flippening Bitcoin were greatly exaggerated:

Ricardo Salinas on Bitcoin:

I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos. My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.

#Bitcoin
#crypto

Disclaimer

[Bitcoin_University]

WARNING: There are a number of scammers who are using my image and
channel name to try to connect with my viewers on WhatsApp and other
platforms to scam them. Just so you know, I will never refer you to
"my personal trader" or try to connect with you personally to sell you
something. I am trying to ban these scammers as quickly as they pop up. You can
always recognize a scammer by clicking on the image and seeing how
many videos he has. All of these guys have zero videos, while I have
hundreds. I also now have a checkmark next to my name, so that you can distinguish the real Bitcoin University from the imposters. Follow me on Twitter @mattkratter

[megalomedia]

"The Altcoin" i would trade to get more BTC is the USD, just like Saylor is doing it : D

[nathanpen]

Thankyou for saving me from the impending altcoin trainwreck. I listened to you years ago, and I'm smiling big time. I sleep like a baby now knowing I've tucked away the greatest asset ever created.

[mavadd]

The only reason I don’t have double the amount of Bitcoin I currently hold is because of altcoin scams and leverage.
This is one of your best videos yet Matt.
“The Bitcoin exit is closing” that hit hard and it’s true. Enjoy buying and taking self custody of Bitcoin while you still can

[Steve-nbkg]

I agree, knowing when you are lucky vs. good is a valuable lesson in investing.

[Brandon-xpob]

I used to think like this. I never considered myself a trader but I definitely had a bag of altcoins and planned on selling them as they went up and converting gains to BTC... But then I fell down the Bitcoin rabbit hole. As I did more research and started reading the Bitcoin standard, studying monetary history, etc. I started selling alts and eventually sold the last of my Ethereum in 2021 if I remember correctly and put everything into Bitcoin and never looked back. Just stack and chill. I think a lot of us have made mistakes in crypto but the important thing to do is learn and as you say Matt "get on the winning team"
🧡🧡🧡

[colinpatricklindsay]

I did have this plan earlier this year after obsessing over 10-100x gains from Alts. After finding your channel, I am 100% Bitcoin only, I don't even pay attention to them anymore. Cheers to you, Matthew!

[tomredeye]

I think it was Jesse on the 'Last Trade' podcast who said that bitcoin is a 'once in a species opportunity'. I think this is right because we have never perfected money or been so connected. Bitcoin is perfect and it comes at a time when we desperately need it. The internet x bitcoin is a beautiful thing. Thanks Matt.

[thfall]

For people who think trading altcoins to get more bitcoin, HODLing - while from a handling point of view has become easier - will become almost impossible the higher the fiat price goes. The mindset is what makes a true bitcoiner. And this is where your videos shine, Matt. Thank you! You are instilling the right mindset in your viewers. You most certainly did that with me.

[siferd]

After listening to your pointers I've swapped my last few Alts at a loss right before this last pump. So I feel much better after I did it. cheers 🍻.

[エルフマスタ]

Matthew, you are a rare breath of fresh air in the Bitcoin world, and you are an evangelist in the bitcoin world. I started watching your videos two years ago and basically watch every video. I have benefited a lot. Thank you again. .

Oh, by the way, I sold basically all my POS bullshit coins a few days ago, converted them all into Bitcoins, and stored them in a cold wallet.

[portzir]

It's the smartest thing to do, for sure. Just stacking sats. What you are missing are the market participants. There are a lot of greedy gamblers in the market that are just not satisfied with the performance of bitcoin and are looking for the next hit. That's the reality, wheather you like it or not. I have the strat to farm altcoins to move into bitcoin eventually and I will still do it, even after your video. Although I think the most juice is in micro caps and NFTs. I made a year's salary from one single NFT alone (and lost it again in other NFTs haha). There are many people out there thinking the same like me. If you like it or not, there will be plenty of alts outperforming bitcoin. Just do not hodl them, paper them away and stack sats.

[MrAvocado]

I did this at the beginning of COVID until I started watching your videos and studying more. All you gotta do is dollar cost average and keep your wallet secure and keep educating yourself

[ericsurprenant]

I still own some Alt coins from when i first entered the Crypto world and I didn't know any better, I will be selling off those alt coins in early 2024 and adding to my position in Bitcoin, if I had only known then what i know now, but I am a lot wiser now thanks to your videos Matthew!

[Lakeland]

I love this video. Good timing. You never outrun Bitcoin

[zr]

Awesome video Matthew, thank you so much for this! I dumped my shitcoins and went all in BTC years ago. I was considering selling some for profit mid 2025 (long term capital gains) in hopes to buy a few extra coins at a lower price 1-2 years later but you brought up a lot of great points I wasn't thinking about. Many thanks and I appreciate you and your channel!!

[EmilGhiurau]

Matt, been watching your videos daily. And you are the voice of reason in a sea of craziness. Thank you again for all you do. Blessings to you and your family.

[Grantdunnit]

This music to my ears, so glad I left cardano,

I can finally sleep at night night now my bitcoin is in cold storage,

Thank you for your hard work, and the informative videos, and educating us all

Thanks agin 😎👍🏼

[Hermes..]

Learned this hard way. Thanks for spreading the word and hopefully sparing others the pain of losing their hard earned money in those scams called “altcoins”.

[dltsabatino]

YT didn't show your video in my feed this morning. First time in 2 years. Hope this trend doesn't continue. Keep up the great work Matthew 🙏🏻