Last week, we stuck to our bullish market perspective, and it turned out to be a wise choice. Yesterday’s celebration of our spot-on prediction resulted in today’s hangover of mine. Interestingly, in Denmark, there is a custom of referring to Thursday as ‘little Friday’ when we go out drinking on those days. However, I have discovered that no one, not even bosses, bats an eye if you apply this to any weekday, making yesterday my ‘little-Thursday’. Consider that a bonus tip, included in your Steno Research subscription.

Setting aside this free insight, let us dive into a subject I have strong opinions about.

The cryptocurrency industry is arguably one of the most, if not the most, toxic spaces out there.

It is filled with people who are all too eager to promote the lesser sides of various cryptocurrencies, often those with bleak prospects, as if they are the next big thing. Then, there are those few who champion the cryptocurrencies that may have a brighter future. However, their commitment borders on maximalism, blinding them to any broader perspective.

Maximalism in the crypto world refers to the staunch belief that one particular cryptocurrency outshines all others. It is not just about having a slight preference for one cryptocurrency over another or believing in one’s superior potential. It is an all-encompassing devotion to a single currency, coupled with an unwillingness to acknowledge its flaws. Yet, paradoxically, maximalists are often quick to pinpoint and critique the weaknesses in other cryptocurrencies. This mindset originally took root among Bitcoin supporters but has since spread, notably within the Ethereum community and even among smaller players like Solana.

Personally, I find this unwavering dedication to a single asset, leading to maximalism, somewhat admirable. It is fascinating how one can find such joy in a single asset, to the point of being completely oblivious to the wider world.

That being said, the insistence on a single cryptocurrency reigning supreme does not quite add up in the current crypto landscape. We are still in the early stages, and everything remains uncertain because each cryptocurrency comes with its own set of issues. As of now, no cryptocurrency offers a complete solution that guarantees it will not be surpassed by newer alternatives. The real questions we should be asking are: Which cryptocurrencies have the fewest and least severe shortcomings? And how quickly can these issues be addressed? In our opinion, the cryptocurrencies that score well in these areas are the ones worth investing in.

This approach has guided our crypto portfolio.