Charlie Lee, the creator of Litecoin who holds no LTC, has advised crypto investors that they should hold at least one full bitcoin before they start buying any alts – and that includes LTC.

His tweet read:

‘There will be at most 21 million bitcoins in existence. There isn’t even enough BTC to go around for EVERY millionaire to own one. So before you buy any other coin (LTC included), try to own at least 1 BTC first. Once you have 1 BTC, buy all the shitcoins you want!’

This is pretty good advice for crypto investors, and we agree with it. Bitcoin is the daddy. Almost every major altcoin correlates closely to bitcoin’s price movements – that is, if alts are going up, it’s probably because bitcoin is going up too. And bitcoin’s rise often precedes alts’ rises. Basically, there’s a good chance you’ll be left behind if you don’t hold some BTC. It’s the blue-chip stocks and foundation of any good crypto portfolio, before you start looking at the higher-risk, higher-return (or worse loss) cryptos.

And it’s an interesting point about millionaires. There aren’t many bitcoins to go round. Current supply is around 17 million, out of a total 21 million – and several million of those are probably lost forever. The US alone has more than 15 million millionaires, almost half the world’s 36 million total. (For the record, there are fewer than 2,800 billionaires.)

No one knows what will happen to bitcoin in the long term. But in ten years time, do you really want to be the guy who COULD have bought bitcoin, back when it was a tiny fraction of its ultimate value?

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