3 Cryptos Turn $100,000 into $1 Million: Spring 2024

I am more confident about investing in cryptos as an asset class for the long term. The reason for this is that the cryptocurrency world has overcome the fear of a ban. Instead, the centralized and decentralized worlds appear to be working together, and the introduction of the Bitcoin (BTC USD) ETF underlines my view. However, I would prefer to stick with top names if I had to choose cryptocurrencies to buy for the long term.

The focus of this column is on three cryptos that you can buy and hold for five years (2028) to earn a return of 10baggers. If you know the world of cryptos, you can get a 10x return sooner. However, it is good to be cautious about expectations.

I would also like to add that I will not invest more than 15% of my total investment portfolio in cryptos. However, even a 15% allocation will have a big impact because it is a 10% return.

Let’s discuss three cryptos you should buy and hold until 2028 for multibagger return potential.

Bitcoin (BTC)

Bitcoin is the blue chip among cryptocurrencies. It’s like holding Apple (NASDAQ:AAPL) or alphabet (NASDAQ:GOOGNASDAQ:GOOGL) in the crypto world. Following the cryptocurrency halving, Bitcoin is up 42% year-to-date and is trading at $63,000. There are numerous catalysts that will ensure that Bitcoin’s bullish trend continues.

In March, Cathie Wood said Bitcoin can do that The trade can be up to $3.8 million by 2030. That would represent an increase of almost 6,000% from current levels. I must add here that Jack Dorsey recently opined that Bitcoin is likely to do this trade over $1 million by 2030.

Cathie’s estimates may be overly optimistic, but if we look at a baseline scenario, 20x returns are likely to be expected by the end of the decade. There are two reasons for this view.

First, the supply of Bitcoin is limited. As crypto adoption increases, the supply-demand scenario will become tense. This will lead to an uptrend. In addition, long-term monetary policy is likely to be expansionary. This is positive for risky asset classes like cryptocurrencies.

Ethereum (ETH)

It is worth noting that Bitcoin is up 40% since the beginning of the year. In the same period ether (ETH-USD) has increased by 25%. The cryptocurrency continues to lag behind Bitcoin in terms of returns. However, I wouldn’t be surprised if Ethereum catches up in the coming years.

When the Bitcoin spot ETF was announced, the cryptocurrency surged. I expect a similar scenario for Ethereum, with an ETF likely in the coming quarters. Analysts talk about Ethereum will trade at $15,000 by 2025. If the ETF is approved and the crypto bull market continues, I think a $10,000 level is likely next year.

I would also return to Vitalik Buterin’s view in 2022 that Ethereum The development is 55% complete after the merger. Over the next few years, the cryptocurrency is likely to surge as the roadmap evolves. Key upcoming developments include increasing transaction speeds and reducing costs.

BNB (BNB)

Binance is among the top 10 centralized crypto exchanges in the world. The BNB (BNB-USD) Coins can be used to pay fees when trading on the Binance Exchange. Additionally, users who hold BNB coins above a certain threshold will receive VIP tiers and additional fee discounts. Therefore, the first thing to note is that the coin has a strong use case.

Another important point is that the cryptocurrency bull market is anything but euphoric. It is likely that most of the current bull market will unfold over the next 12 to 18 months. This will result in dozens of altcoins delivering multi-bagger returns.

The reason for mentioning this is to underline that trading volumes will increase sharply in the coming quarters. This will benefit some of the largest centralized exchanges like Binance. With a strong use case, the BNB coin is likely to see an uptrend.

At the time of publication, Faisal Humayun did not hold, directly or indirectly, any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to those of InvestorPlace.com Publishing Guidelines.