Crypto expert Panos Mekras recently shared his perspective on the investment potential of XRP in contrast to stocks of prominent companies such as Amazon, Apple, and Netflix.
Specifically, Mekras argued that XRP has a more extensive investment outlook than the stocks of the FAANG companies. His perspective was built on a post by renowned stock investor Brian Feroldi.
In a recent tweet, Feroldi pointed out that latecomers to the stock market still have ample opportunity to make substantial gains, provided they take the bold move. He cited examples of successful investments in Apple (AAPL), Amazon (AMZN), and Netflix (NFLX) made five years after key milestones in their development.
His words for each of the cited tech giants read along the lines:
“If you bought AAPL five years after the iPhone launch, you made a ton of money. If you bought AMZN five years after the AWS launch, you made a ton of money. If you bought NFLX five years after it started streaming, you made a ton of money.”
Feroldi concluded the tweet by noting that being late to the party may not be as bad as most people assume. “You can be ‘late’ and still win big,” the stock investor remarked.
Crypto Author Agrees, But He Favors XRP
Notably, crypto author Panos Mekras acknowledged Feroldi’s perspective, noting such opportunities lie in the crypto sphere. Mekras highlighted that the crypto space presents similar opportunities for latecomers, albeit with tremendous potential and a wealth of innovation.
“It’s the same with crypto, but with a much bigger potential and more opportunities. So many great projects, so much innovation,” Mekras remarked.
It’s the same with crypto, but with a much bigger potential and more opportunities. So many great projects, so much innovation. $XRP and $AVAX are the top L1 investments and bluechips for me. https://t.co/ai4s7OkUE5
Meanwhile, he particularly cited that XRP and Avalanche (AVAX) represent top-tier layer-one crypto projects. According to the crypto author, XRP and AVAX are like blue-chip cryptocurrency assets.
Ultimately, Mekras’ comments underscore his belief in the significant growth potential of cryptocurrencies. These views challenge the traditional notion that entering the market at a later stage hinders the potential for substantial gains.
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
