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


  • These are the cryptos to buy for 10-bagger returns by 2028, as they represent the blue-chip names from the industry
  • Bitcoin (BTC-USD): With limited supply, the crypto is likely to trend higher on the back of rising adoption.
  • Ethereum (ETH-USD): An impending ETF is a positive and Ethereum development is only 55% completed after the merge.
  • BNB (BNB-USD): Binance is among the largest centralized cryptocurrency exchange and BNB coin has a strong use case.
cryptos to buy - 3 Cryptos to Turn $100,000 Into $1 Million: Spring 2024

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I am more confident investing in cryptos as an asset class for the long term. The reason is that the world of cryptocurrency has navigated the fear of being banned. Instead, the centralized and decentralized world seems to be working together, and the launch of the Bitcoin (BTC-USD) ETF underscores my view. Having said that, I would prefer to stick to top names if I had to select cryptos to buy for the long term.

The focus of this column is on three cryptos to buy and hold for five years (2028) for 10-bagger returns. Knowing the world of cryptos, 10x returns can come earlier. However, it’s good to be prudent in terms of expectations.

I would also like to add that I will not allocate more than 15% of my overall investment portfolio towards cryptos. However, even a 15% allocation will have a big impact, since we are talking about 10-bagger returns.

Let’s discuss three cryptos to buy and hold through 2028 for multibagger returns potential.

Bitcoin (BTC)

Up trend Technical graph of Bitcoin (BTC-USD) in futuristic concept, BITI ETF is a Bitcoin short fund for investors betting against Bitcoin.
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Bitcoin is the blue chip among cryptocurrencies. It’s like holding Apple (NASDAQ:AAPL) or Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) in the crypto world. With crypto halving done, Bitcoin has trended higher by 42% for year-to-date and trades at $63,000. There are ample catalysts that will ensure that the uptrend sustains for Bitcoin.

In March, Cathie Wood opined that Bitcoin can trade as high as $3.8 million by 2030. That would imply an upside of nearly 6,000% from current levels. I must add here that Jack Dorsey recently opined that Bitcoin is likely to trade above $1 million by 2030.

Cathie’s estimates might be too optimistic, but if we look at a base-case scenario, 20x returns are likely by the end of the decade. There are two reasons for this view.

First, Bitcoin has a limited supply. As crypto adoption increases, the demand-supply scenario will be tight. That will translate into an uptrend. Further, long-term monetary policies will likely be expansionary. That is positive for risky asset classes like cryptocurrencies.

Ethereum (ETH)

Etereum coin is in pocket. Ethereum is a decentralized, open-source blockchain with smart contract functionality. ETH crypto
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It’s worth noting that Bitcoin has trended higher by 40% year-to-date. During the same period, Ethereum (ETH-USD) has rallied by 25%. The cryptocurrency continues to lag Bitcoin in terms of returns. However, I would not be surprised if Ethereum catches up in the coming years.

When the Bitcoin spot ETF was announced, the cryptocurrency surged higher. I expect a similar scenario for Ethereum with an ETF likely in the coming quarters. Analysts are talking about Ethereum trading at $15,000 by 2025. In my view, $10,000 levels are likely next year if the ETF is approved and the crypto bull market sustains.

I would also go back to Vitalik Buterin’s view in 2022 that Ethereum development is 55% complete after the merge. In the next few years, the cryptocurrency will likely surge as the roadmap progresses. Some key impending developments include increasing transaction speed and lowering cost.


A Binance Coin sits in front of trading charts. Binance price predictions
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Binance is among the top 10 centralized crypto exchanges in the world. The BNB (BNB-USD) coin can be used to pay fees while trading on the Binance exchange. Further, users holding BNB coins above a certain threshold are given VIP tiers and additional fee discounts. Therefore, the first point to note is that the coin has a strong use case.

Another important point is that the bull market for cryptocurrencies is far from euphoric. It’s likely the best part of the current bull market will unfold in the next 12 to 18 months. That will translate into dozens of altcoins delivering multibagger returns.

The reason to mention this is to underscore the point that trading volumes will surge in the coming quarters. That will benefit some of the largest centralized exchanges like Binance. With a strong use case, the BNB coin is likely to trend higher.

On the date of publication, Faisal Humayun did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Faisal Humayun is a senior research analyst with 12 years of industry experience in the field of credit research, equity research and financial modeling. Faisal has authored over 1,500 stock specific articles with focus on the technology, energy and commodities sector.

Article printed from InvestorPlace Media, https://investorplace.com/2024/05/3-cryptos-to-turn-100000-into-1-million-spring-2024/.

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