- Mason Versluis, 21, has nearly 500,000 followers on TikTok, where he shares advice on crypto and the markets.
- He recently spoke to Insider about how he chooses which coin to invest in and why.
- Versluis said he would like to see bitcoin “get killed” because other coins have much more real use cases.
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Bitcoin is the largest cryptocurrency by market value and, for now, continues to outshine its competition. But the rise of crypto rivals with many more real-world applications means it will be dethroned sooner rather than later, according to financial influencer TikTok Mason Versluis.
Versluis, 21, also goes by the username Crypto Mason and has nearly 500,000 subscribers on his TikTok account, which he uses to create short videos to educate his viewers about crypto and the markets.
Versluis, who has been trading cryptos since the age of 15, recently spoke to Insider about his outlook for the market.
“The bitcoin psychological thing still being the number one and the king can go away. So by ‘kill bitcoin’ I mean I want something to pass it and then we’ll see what happens after that,” he said. declared Versluis.
Bitcoin has a market cap of just under $ 800 billion, out of the roughly $ 1.9 trillion the crypto market is worth as a whole, according to CoinMarketCap.
Over the past 12 months, its price has gained almost 350%, but Versluis believes there is more value to be had elsewhere.
“My dad actually told me about XRP when I was 17, and I’ve been there every now and then,” he said.
“I’m one of those people who thinks XRP is a ‘better bitcoin’. And it actually solves the payments problem better than bitcoin can or ever will,” he added. Ripple Lab’s XRP token is used in fast payment systems – an area where bitcoin can’t quite compete given its network’s sluggishness in comparison. XRP is one of the biggest crypto coins and has kept pace with bitcoin over the past year, increasing by around 320%.
Ether, the native token of the ethereum network, is the second largest cryptocurrency and accounts for around 20% of the market. Its blockchain’s ability to run decentralized financial applications, smart contacts, and other protocols has resulted in a surge of investor money in the ether this year, which has grown nearly 800% during that time.
“There must be use cases, that is, doesn’t this token do anything?” Am I just buying this token because I think it’s going to increase in value? Said Versluis.
“That’s what I’m personally invested in, just because of the potential – they’re actually doing something. Ethereum has so many decentralized applications built on it,” he added.
When it comes to taking a position on a coin, Versluis says he is not a day trader.
“It’s a lot of stress, you have to be in front of your computer watching the markets,” he said.
“I’ll see an opportunity, I’ll put some money in, and I’ll ride this rocket until I think it’s time to sell. I sell it and put it in a stable coin, like USDT or USDC And then I just make a profit and then put some back into my main portfolio so it’s a slow process, ”he said.
As a relatively young trader who says that part of his passion for crypto is its decentralized and free nature, the question arises as to what Versluis thinks about regulation in this market. Unlike a lot of crypto fans, he’s not against it. But he believes all the rules need to adapt to the reality of the crypto market and that one size does not fit all.
“It’s a digital world. And we’re only going to get more digital and more virtual,” he said.
“They can’t just take the old system, the laws and apply it to crypto. It doesn’t work. So what will come out of it is a whole new way of looking at these tokens.”