In this clip from "The Crypto Show" on Motley Fool Live, recorded on May 18, Fool.com contributor Travis Hoium takes a member's question about cryptocurrencies and explains why he would purchase more of Ethereum (ETH 4.90%) and Solana (SOL 2.73%).
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Travis Hoium: Would we be comfortable adding to Ethereum, Solana? Those are the two that I own. I don't own any Bitcoin (BTC 0.72%). This maybe gets to another one of the other questions that McCund has about the halving related to Bitcoin. Bitcoin is one that I want to see the utility that's involved in Bitcoin. It's a store of value. It's a gold I think is the best argument for it, and that's not something that I understand or invest in normally, gold. That's one that I have not bought at all.
But Ethereum and Solana, I believe Solana was the one that I added to most recently and they're both ones that I am bullish on and this has been a big pullback since I own mostly NFTs. What tends to happen is that the value of the cryptocurrency will fall in the value of the NFT in crypto terms will rise at least a little bit. That blunts the blow for me from a valuation perspective, not saying that it's good when crypto values fall, but I think both of those I would be comfortable adding at this point because of what we talked about.
There's building going on on both of those blockchains and I think that still continues with some, or at least the best projects in the NFT space. That's my thoughts on that right now.
