The cryptocurrency sector has grown incredible over the past decade. Many cryptocurrencies produce better returns than commodities and stocks. The crypto industry is expected to become even more active in the coming years. With the approval of crypto-based ETFs in the US, institutional fund inflows into crypto assets are expected to increase only over the last decade. We asked Elon Musk’s Grok AI to choose three crypto assets for long-term growth. Let’s take a look at what the AI chatbot had to say.
Elon Musk’s Grok Ai picks 3 cryptocurrencies for long-term growth
1. Bitcoin (BTC):
There are no surprises here. Bitcoin (BTC) is one of the most performant assets in the last 10 and a half years. The original cryptocurrency has seen incredible adoption after the SEC approved 11 SpotETFs last year. Asset prices are expected to increase significantly over the next few years.
Many industry experts expect BTC to break the $1 million mark by the end of the decade. Binance founder Changpeng Zhao (CZ) believes BTC could hit between $500,000 and $1 million in this cycle. Ark Invest CEO Caty Wood believes cryptocurrency will soon reach $1 million. BTC hits $1 million and could lead to large gatherings across the market.
The rarity of BTC is a solid investment in long-term growth. Cryptocurrency has discovered Takers not only in financial institutions, but also in retirement funds, government reserves, and more.
BTC adoption is projected to grow over the next few years. Its limited supply and growing demand are the perfect combination for steady growth.
2. Ethereum (eth):
Elon Musk’s Grok Ai calls ETH the backbone of distributed applications (DAPPS), NFTS, and Defi. ETH utilities are a good choice for future growth. The shift to how Cryptocurrency consensus proof has also reduced energy consumption requirements.
The SEC also approved the Spot ETH ETF last year. The move has allowed several financial institutions to open the door to popular cryptocurrencies.
ETH is the second largest cryptocurrency by market capitalization. This feat will not break anytime soon. ETH has most of the Web3 projects. Recent Pectra upgrades have resulted in a greater price hike for ETH.
Grok emphasizes the strong developer activities and institutional support for the project. In either aspect, ETH is a solid choice for good future returns.
One risk Ethereum (ETH) faces high gas prices and low trading speeds. Competitors like Solana (SOL) could be viable alternatives in the future.
3. Solana (Sun):
Solana (Sol) has grown incredible over the past two years. The price of the asset collided with under $9 after the collapse of FTX in 2022. Sol has hit its all-time high since its 2022 low. Sol’s incredible rebounds solidify its reputation as one of the most resilient assets of cryptocurrency.
Sol could potentially become an alternative to the Ethereum network in the coming years. Upgrading your FireDancer for your project will greatly help you scale. Reportedly, the update could boost the number of transactions per second on the SOL network to over 1 million people. On the other hand, ETH can only process 15 transactions per second.
SEC also has several SPOTSOL ETF applications. It is likely that the financial watchdog will approve the Sol ETF within this year. The SEC has a pro-crypto currency candidate at its head. We may see a more generous crypto-regulated environment over the next few years.
Sol could also benefit greatly from BTC hitting the $1 million mark. Sol was able to ultimately break the $5,000 mark in the coming years.
