As Bitcoin Continues to Climb, Decision Looms for Investors: Buy, Sell or Hold?

As Bitcoin Continues to Climb, Decision Looms for Investors: Buy, Sell or Hold?

Bitcoin continued to rally Thursday as apparently contradictory announcements about its future and use underscore the undefined and at times chaotic nature of cryptocurrency.The basic issue: spend the world's leading cryptocurrency now or buy and hold, betting on continued price appreciation?Prakash Chand, managing partner of FD7 Ventures, a billion-dollar global cryptocurrency investment fund based in the United Arab Emirates, believes Bitcoin's market cap will reach $10 trillion in a few years, or about ten times its current valuation.The Lamborghini Veneno roadster on board the Italian aircraft carrier Cavour on December 1, 2013 in Abu Dhabi, United Arab Emirates. A Veneno sold for $8.7 million in 2018.

Claudio Villa/Getty

"(Bitcoin is) a great store of value, with an excellent brand name behind it, but that is pretty much it where it stops," Chand said in a statement."Cardano, Ethereum, and Polkadot, on the other hand, are platforms that are disrupting education, finance, healthcare and many other industries," he said.Chand also believes lesser-known cryptocurrencies also will post significant long-term gains. He is the founder of Ask The Doctor, a medical website, and made his first Bitcoin investment in 2011.He praised the "new generation of retail investors who got burned on Robinhood," and said many