Crypto Analyst Austin Arnold Explains How He Would Invest $1000 Into Crypto in July 2021
In a recent video, crypto analyst Austin Arnold, Co-Founder and host of the “Altcoin Daily” YouTube channel, named nine cryptoassets that he would be happy to buy and hold for at least the next five years.
As The Daily Hodl reported on June 25, he started with Bitcoin:
“My first $500 out of my total $1,000 I’m immediately putting into Bitcoin. It may not be the fastest, it may not have all the bells and whistles of other altcoins but it is the most decentralized, it is the most censorship-resistant.“
He then moved to Ethereum:
“My next $200 is going right into Ethereum. Goldman Sachs has just begun trading on JPMorgan’s Repo blockchain network and although this is highly private, highly permissioned it is on the Ethereum blockchain.“
Arnold said the next 10% of his portfolio would be allocated to cryptoassets that involve smart contract blockchains, including Cardano ($ADA), Polkadot ($DOT) and Kusama ($KSM):
“My next $100 is being invested right into the Ethereum inter-operators making progress. Like Cardano, like Polkadot and also in this case like Kusama.“
The popular YouTube host also said he would put 10% of his portfolio towards gaming and entertainment blockchains that are poised to take advantage of non-fungible tokens (NFTs), such as Enjin ($ENJ) and Flow ($FLOW):
“My next $100 is being invested into the top altcoins taking advantage of the NFT/virtual world craze.“
He rounded out his top selections by saying he would put 5% in Dogecoin ($DOGE) and another 5% towards XCAD Network ($XCAD).
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
Featured Image by “Worldspectrum” via Pixabay
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