3 Cryptos That Can Turn $1 Into $1,000 by 2040: June Edition

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  • While many look at crypto as a short-term cyclical play, changing your perspective could be lucrative.
  • Bitcoin (BTC-USD): The gold standard of the crypto industry, BTC is probably your best bet for long-term returns.
  • Ethereum (ETH-USD): The runner-up to BTC, ETH offers a more network-focused form of crypto investing.
  • Solana (SOL-USD): Investing in SOL requires faith in its long-term trajectory and adoption.
Cryptos to Buy - 3 Cryptos That Can Turn $1 Into $1,000 by 2040: June Edition

Source: Chinnapong / Shutterstock

When retail investors look for stocks, they usually consider factors like financial performance, product lines and reputational history before investing.

However, when investors search for cryptos, the uncertainty of the market and the relative novelty of the technology result in a different style of investing. That’s because crypto has the potential to multiply an investment of $1 into $1000 if bought at the right moment.

This kind of investing is exceptionally risky, especially because so many crypto projects hide behind mountains of indecipherable whitepaper jargon. As a result, many new crypto projects are hotbeds for scams.

Moreover, nothing is certain in the crypto industry and projects disappear overnight. Thus, buyers should be extra cautious about the plays they make when trying to 1000x their money. For investors looking to do just that, however, these could be the best three cryptos to buy for exponential growth in the next six years.

Bitcoin (BTC-USD)

Hands mimicking Michelangelo pose from Sistine Chapel, with one hand holding a Bitcoin (BTC) coin and another hand reaching for the coin against a purple backdrop
Source: shutterstock.com/Unknown man

Though it seems like an odd pick now that it’s near its all-time high, Bitcoin (BTC-USD) is arguably the best crypto in which to invest for the long run. It has the longest history, is the most widely traded, applied and accepted, and it has a whole industry dedicated to mining it. Bitcoin is the defining example of cryptocurrency and as a result, it still has the most economic potential.

However, investing in Bitcoin is not like investing in any other cryptocurrency, as it requires a different level of commitment. Rather than trying to time the market, buying Bitcoin is more like a savings account. In this format, the best strategy is to set aside an amount of money you would like to invest at a fixed interval and watch as your average position price evens out.

Over time, the gradual ups and downs of Bitcoin could lead to your position being worth hundreds of times more than you originally invested.

Ethereum (ETH-USD)

A concept image of a virtual coin based on the Ethereum logo.
Source: Filippo Ronca Cavalcanti / Shutterstock.com

The perpetual runner-up to Bitcoin’s long-term success, Ethereum (ETH-USD) continues to grow alongside the broader crypto market. Much like buying Bitcoin, buying Ethereum relies on time in the market rather than timing the market. Thus, ETH investors who can keep a cool head as the attitudes around crypto fluctuate are likely to benefit the most.

As the world’s largest altcoin, Ethereum is also significant for its extended technical features and central relationships with the expansion of blockchain technology. This is because ETH is an open-source blockchain, which means any developer can come in and iterate on it for new and improved products.

Also, it comes with smart contract functionality to make it more attractive to developers and investors in decentralized finance (DeFi). Thus, Ethereum is more akin to an actively evolving network maintained by developers who receive ETH coins as pay for their work.

While some predict it will hit $40,000 by 2030, the ups and downs of the crypto market will allow for extensive opportunities to average out positions over time.

Solana (SOL-USD)

Concept art of the Solana (SOL-USD) blockchain.
Source: Shutterstock

Often called the “Ethereum killer” Solana (SOL-USD) has seen its price fluctuate more widely than the other two cryptos on this list. Though it’s not necessarily the newest technology, its increasing adoption and use cases within the crypto market have helped it recover some of the ground it lost after the 2022 crypto bear market wiped out its gains.

Solana has now recovered much of these losses two years later. But where could it be by 2040?

Well, much of this relies on how much its adoption continues to drive its price. Thankfully, Solana is one of the cheapest and fastest blockchain networks on the market right now. So that’s the reason so many of the popular meme coins often rely on its network.

Thus, for investors to see exponential returns on investing in Solana, it’s important to keep an eye on its continued competitiveness in the open-source blockchain sector.

On the date of publication, Viktor Zarev did not have (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.

Viktor Zarev is a scientist, researcher, and writer specializing in explaining the complex world of technology stocks through dedication to accuracy and understanding.


Article printed from InvestorPlace Media, https://investorplace.com/2024/06/3-cryptos-that-can-turn-1-into-1000-by-2040-june-edition/.

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