The share of altcoins overtops that of bitcoin in portfolios of almost half of traders and investors. However, most experienced investors strongly recommend focusing on the first cryptocurrency, predicting death of the majority of altcoins.

Twitter blogger and crypto enthusiast DonAlt launched a poll among subscribers in order to find out what share of their portfolios is held in bitcoins. The results were astonishing.

 

It turned out that 47% of cryptocurrency traders hold from 60% to 100% of their investment portfolios in altcoins. Another 17% of investors hold in altcoins approximately 40%-60% of their assets. Only 23% of respondents confirmed that the share of altcoins in their portfolios is less than 20%, with bitcoin being the main crypto asset.

More than 10,600 Twitter accounts took part in the poll.

Such investment decisions have received sharp criticism from the analyst, writing under the nickname DonAlt.

 

Everyone can invest however they like but the fact that more than 60% of you have 40%+ of your capital in altcoins worries me.

Meanwhile, Mike Novogratz, founder of the investment company Galaxy Digital, encourages investors to bet on bitcoin. Last week, Novogratz wrote that litecoin holders should exchange LTC for bitcoins, which is the real digital gold.

 

The death of most altcoins was predicted by IOHK CEO Charles Hoskinson as early as in 2017, on the threshold of the rise of cryptocurrencies. The similar point of view is voiced out by Barry Silbert, founder of the Digital Currency Group and Grayscale Investments. In February 2019, he said that most altcoins are useless, and therefore their value will drop to zero.

“Almost every ICO was just an attempt to raise money but there was no use for the underlying token,” Silbert said in an interview with CNBC. “The vast majority of what’s out there will be eliminated.”