Over the past year, Shiba Inu (CRYPTO:SHIB) has skyrocketed 68,000,000%, growing at a pace that could turn relatively small sums of money into millions of dollars. While impressive, Shiba Inu lacks actual utility, and those gains have been driven by nothing more than hype. That leaves a big hole in the long-term investment thesis, especially when other cryptocurrencies have seen mainstream adoption.
For instance, PayPal Holdings debuted the ability to buy, sell, and spend cryptocurrency on its mobile apps last year, choosing to support only four assets: Bitcoin (CRYPTO:BTC), Ethereum (CRYPTO:ETH), Litecoin (CRYPTO:LTC), and Bitcoin Cash. And last week, AMC Entertainment Holdings made a similar decision, allowing moviegoers to make online payments with the same four digital assets.
Those are just two examples of shifting sentiment regarding cryptocurrency, but there is good reason to believe more institutions will follow suit. For that reason, Bitcoin, Ethereum, and Litecoin look like smart long-term investments. Here’s what you should know.
Bitcoin was the first widely adopted cryptocurrency, and it remains the most popular and the most valuable. Not surprisingly,