2 Brainless Billionaire Owned Cryptocurrencies to Buy Right Now

The price of Bitcoin (BTC 2.48%) is on the rise again — though, as always, it depends on what time frame you’re talking about. In the last 12 months, its price has increased by more than 125%. However, in the last six months, the price has fallen by about 15%.

Looking for the best cryptocurrencies to buy at a discount? These crypto billionaires have some ideas for you.

Follow the Facebook twins in this major cryptocurrency

You’re familiar with the Winklevoss twins if you’ve watched their stories in the award-winning movie The social network. In short, they rose to fame by claiming to be the true co-founders of Facebook — a claim that eventually earned them a $65 million settlement.

What did the Winklevoss twins do with their fortune? Invest it in a variety of start-ups. But their most interesting venture was the most classic cryptocurrency of all time: Bitcoin.

The pair became excited about the new digital currency very early on and even tried to launch the first Bitcoin exchange-traded fund (ETF). Reports suggest they have accumulated about 1% of the total supply, buying at prices as low as $10 per coin. Today, the twins are certified billionaires and are not withdrawing any of their Bitcoin investments.

Gemini is optimistic about its ecosystem and has invested heavily in start-ups that plan to expand it further. But years ago, they explained an even simpler reason to invest in digital currency: it’s a bona fide store of value that’s worth at least as much as gold.

“Bitcoin is better at gold than gold – and not just incrementally, but by an order of magnitude or 10x better,” one of the twins tweeted in 2020.

The market value of gold is approximately $17 trillion. Market Cap for Bitcoin? Only around $1.1 trillion. Yes, it has a lot of long-term potential when it comes to sitting at the center of the crypto ecosystem. But its potential as a store of value is still real.

With multiple ways to earn, there’s no reason why your portfolio shouldn’t include a massive Bitcoin allocation, especially if you’re bullish on cryptocurrencies in general.

Bitcoin Market Value; data by YCharts.

These billionaires know what they are doing

Sometimes it’s better not to monitor what individual billionaires buy, but what Groups of billionaires buy. For that, you simply need to follow the portfolio of one of the most important venture capital (VC) firms of all time: Andreessen Horowitz. Some of the world’s richest people are invested in the company’s funds, giving us an indication of what cryptocurrency billionaires are betting on.

One of Andreessen’s earliest crypto investments was in Ripple (XRP 1.14%). He is not alone. More than a dozen major venture capital firms backed the project. Even Alphabetowner of Google, participated in its funding rounds.

What is so attractive about Ripple? If you believe that institutions will eventually use cryptocurrency to streamline operations and reduce costs, this is the cryptocurrency for you.

Essentially, Ripple is built to facilitate cross-border payments more efficiently than the current system. Using blockchain technology, it essentially realizes various fiat currencies. Transactions settle in seconds and cost next to nothing. Suddenly, bank transfers can happen globally without the expensive and time-consuming infrastructure required now.

More than $800 billion is transferred globally in remittances every year. But that doesn’t include the trillions of dollars that banks transfer internationally to each other or simply through larger transactions. In short, Ripple’s addressable potential is probably several trillion dollars: more than Bitcoin’s current total market cap.

Of course, there are plenty of challenges. Some argue that Ripple is not working in the true spirit of crypto because it helps existing large institutions. But here is also the opportunity: getting these huge funds of capital to participate in cryptocurrencies at scale, even if there are limitations.

But there are also regulatory concerns. The Ripple operator, for example, was recently forced to pay 250 million dollars in a settlement with the Securities and Exchange Commission. And there is stiff competition, both from other decentralized projects and from centralized leaders like Oracle and IBM.

Ripple is certainly a more complicated story than Bitcoin, but it also trades at less than 3% of the latter’s market cap. Those looking to bet on billionaire-backed cryptocurrencies with more upside than Bitcoin itself should take a closer look.