xrp crypto stock

A financial TikTok influencer with almost 500,000 followers says bitcoin is going to ‘get slayed’ – and shares how cryptos and stablecoins make up his trading strategy | Currency News | Financial and Business News

Mason Versluis
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Mason Versloss

  • 21-year-old Mason Versluis has nearly 500,000 followers on TikTok, where he shares tips on crypto and markets.
  • He recently spoke to Insider about how and why he chose which currency to invest in.
  • Verslaus said he would like to see bitcoin “fade out” because other coins have much more real use cases.
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Bitcoin is the largest cryptocurrency by market cap, and at the moment, it continues to dwarf its competitors. But the emergence of crypto competitors with more realistic applications means that they will be phased out sooner rather than later, according to TikTok financial influencer Mason Versluis.

The 21-year-old Versluis also uses the username Crypto Mason and has nearly 500,000 followers on his TikTok account, which he uses to create short videos to educate his viewers about crypto and the markets.

Versluis, who has been trading cryptocurrency since he was 15, recently spoke to Insider about his market predictions.

“The psychological thing for bitcoin is always number one and can go away. So by ‘killing bitcoin,’ I mean I want something to go through, and then we’ll see what happens next,” Verslaus said.

Bitcoin has a market capitalization of just under $800 billion, out of roughly $1.9 trillion equaling the entire crypto market, according to CoinMarketCap.

In the past 12 months, its price has gained nearly 350%, but Versluis believes there is more value to be had elsewhere.

“My dad actually told me about XRP when I was 17, and I’ve been working on it ever since, on and off,” he said.

He added, “I’m one of those people who think XRP is ‘better bitcoin’. It actually addresses the payments problem better than bitcoin ever could or ever will.” Ripple Lab’s XRP token is used in express payment systems – an area where Bitcoin can’t really compete due to how slow its network is by comparison. XRP is one of the largest cryptocurrencies and has kept pace with Bitcoin in the past year, rising around 320%.

Ether, the original token of the Ethereum network, is the second largest cryptocurrency and accounts for around 20% of the market. Its blockchain ability to power decentralized finance applications, smart contacts, and other protocols has seen a rush of investor money into ether this year, which has gained nearly 800% in the time.

“It should have use cases, i.e.: Is this token doing nothing? Am I buying this token just because I think it will go up in value?” Verslus said.

He added, “This is what I have personally invested in, just because of the potential – they are actually doing something. Ethereum has a lot of decentralized applications built on it.”

When it comes to taking a position in a coin, Versluis says he is not a day trader.

“That’s a lot of stress, you have to be on your computer watching the markets,” he said.

“I’ll see an opportunity, put some money in, and basically ride this rocket until I think it’s time to sell it. I sell it and put it into a stable currency, like USDT or USDC. After that, I make a profit, and then I’ll reinvest some of that into my main portfolio. So It is a slow process.”

As a relatively young trader who says that part of his passion for cryptocurrencies is their decentralized and free nature, the question that arises is what Versluis thinks about regulation in this market. Unlike a lot of cryptocurrency fans, he’s not against it. But he believes that any rules need to be adapted to the realities of the cryptocurrency market and that one size does not fit all.

“It’s a digital world,” he said, “and we’re going to become more digital and more virtual.”

“They can’t just take the old system and laws and apply it to cryptocurrencies. It doesn’t work. So what comes out of this is a whole new way of looking at these tokens.”

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