Even the most seasoned and traditional investors can’t ignore the massive rise of popularity in cryptocurrencies over the past few years. Which bodes the question of what is the best cryptocurrency to invest in 2021.
That’s why Joy of the Trade’s Jeff Zananiri filmed this video on a topic we’ve covered before. And while he’s not saying he’s a psychic or anything like that, everything he covered in that video seems to be a sore spot for investors now.
Investors can’t stop talking about Bitcoin’s use of energy, and if it will remain the big dog on the crypto block.
Jeff previously said Ethereum was going to eat Bitcoin’s lunch — i.e. its money flow. His thesis on this, in a nutshell, was that Bitcoin is no longer sustainable.
This line of thinking came after a massive power outage in China’s Xinjiang region in April — the place where more than two-thirds of worldwide Bitcoin mining occurs.
This event caused a violent cryptocurrency crash that drove Bitcoin’s value down nearly 15%. And frankly, volatility hasn’t slowed since.
With Bitcoin no longer sustainable, it’s now at odds with the young traders who want to go into crypto for its sustainable benefits.
So Jeff had to ask himself what the heck is going on between Bitcoin and Ethereum… and which one is the best cryptocurrency to invest in 2021?
Bitcoin vs. Ethereum: The Best Cryptocurrency to Invest in 2021
Jeff did a little homework and found that Ethereum uses a tenth of the energy Bitcoin requires — with the ability to use even less in the future.
And then he looked at Bitcoin and saw its energy usage has only gone up.
Even Tesla Inc. (Nasdaq: TSLA) CEO Elon Musk sent out a tweet to let his loyal following know that he wasn’t supporting Bitcoin anymore. He said the company would no longer accept it as a form of payment for vehicles.
Tesla & Bitcoin pic.twitter.com/YSswJmVZhP
— Elon Musk (@elonmusk) May 12, 2021
Tesla is the No. 1 sustainable investment in the world. So Musk is the driving force behind the Environmental, Social, and Governance (ESG) craze among investors — they apply these nonfinancial factors to their analysis to find risks and growth opportunities.
From an environmental and publicity standpoint, there’s no way Tesla could go with Bitcoin and its excessive use of energy.
But what’s even more interesting to Jeff is the pairs trade he’s been tracking between the two cryptocurrencies, and how much Ethereum’s been growing while Bitcoin lags.
Then it hit him: This movement reminds me of two stocks he traded in a pairs trade back in the early 2000s.
If you remember the huge rivalry that happened between Yahoo and Google back in the day, then you know where Jeff’s going with this…
Check out Jeff’s short video below to learn more about the best cryptocurrency to invest in 2021. Be sure to share your thoughts in the comments section below.
Don’t forget to subscribe to our YouTube channel if you haven’t already so you can be notified as soon as we post our next video!
P.S. Wall Street legend Chuck Hughes is about to share the secret behind his Triple Threat strategies.
It’s the exact same strategy that gave him the chance to grow his small $5,900 trading account into over $212,217…
In just two years!
Chuck’s never shared details with the public on how he achieved that number…
But after some major convincing, I talked him into offering a select number of traders the opportunity to not only get in on these trades, but to master the stock market.
