Buying Ten Cryptocurrencies in 2021
One of the five tracking portfolios
If you saw yesterday’s post on my investment schedule for 2021, you might have noticed the $1,000 investment on January 1. That’s because, for better or for worse, cryptocurrency markets trade 24/7. They don’t even take a break for holidays!
Cryptocurrencies are going to make up the entirety my “Wild Stuff” tracking portfolio, which is one of five benchmarks being set up in the new year. At the time, I didn’t mention the exact ten cryptocurrencies I would be buying, so here they are (in the following format):
Name (Ticker) | Current Market Capitalization [Rank on Coinmarketcap.com]
Bitcoin (BTC) | $434.5B [1st]
Ethereum (ETH) | $69.9B [2nd]
XRP (XRP) | $15.4B [4th]
Litecoin (LTC) | $7.1B [5th]
Bitcoin Cash (BCH) | $5.5B [6th]
Chainlink (LINK) | $4.8B [7th]
Stellar Lumens (XLM) | $3.2B [12th]
Filecoin (FIL) | $1.1B [24th]
Cosmos (ATOM) | $1.0B [27th]
Zcash (ZEC) | $0.7B [38th]
While there are over 8,085 different cryptocurrencies out there, I think these ten will give a good look at the market as a whole. In total, they currently represent $543.2B of the overall $645.1B cryptocurrency total market capitalization (~84.2%). Given the historical trend of cryptocurrencies falling in and out of favor, that percentage will be particularly interesting to follow. No matter what happens, it’s certainly going to be a fun portfolio to watch.
This will be an interesting bucket to watch. For head to head comparison sake, shouldn't you wait until 1/4/2021 to purchase the cryptos?