Why can’t I just buy Bitcoin? Why should I buy other smaller cryptocurrencies? Why do I need more than Bitcoin to retire?

You need more than Bitcoin to retire. 

Gold is a $9 trillion market. To surpass gold, Bitcoin would need to be $500,000 per Bitcoin. In 2019 and early 2020, the all time high was $20,000, it would need to go roughly 2,500% up from here. Under a “blue sky” scenario assuming further reduced supply and government printing money, and let’s say Bitcoin goes to an insane valuation of $1 Million in the next 5 years, that’s about a 4,900% gain. 

If you invest $5,000 in Bitcoin, and wait 5 years, you’d have $150,000 or possibly $250,000 at the most. Not bad!

Don’t get me wrong, those gains are pretty good. However, if you invest $5,000 in 10 or 30 different cryptocurrencies, and only one or two of them goes to 10,000% or even 100,000% or more, you could potentially turn it into $1,000,000 or more.

If you have a diversified portfolio, you don’t need to bet big. You maximize your returns while minimizing your risk.

And you simply can’t do that with just Bitcoin. But you can easily do that with a well diversified portfolio that includes alt-coins. That’s why you need more than Bitcoin to retire.