Artificial Intelligence tools are a valuable source of information. The ability to process data from billions of sources and give answers instantly is invaluable. Among the numerous uses of a Large Language Model (LLM) like ChatGPT, seeking crypto investment advice is one that hasn’t been explored enough.
By August 2023, there were over 9,000 active cryptocurrencies in the market. Although the total number is over 20,000, most of these are inactive or have been discontinued.
It is not a feasible strategy to invest in all cryptocurrencies, especially with new ones launching all the time. However, holding on to the right ones might mean the difference between retiring early and working till your 70s.
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ChatGPT is the most popular and most used AI tool in the world, and we’ve asked it what three cryptocurrencies are the best to buy and hold. The buy-and-hold strategy is a basic but effective strategy when investing in crypto. You buy the tokens and hold on to them until their value skyrockets.
ChatGPT’s Top 3 Cryptocurrencies
As the top 3, ChatGPT selected Bitcoin (BTC), Ethereum (ETH), and Cardano (ADA). It went a step further and gave reasons why these cryptocurrencies were the best options for long-term holdings
Bitcoin (BTC)
- Bitcoin is the first and most well-established cryptocurrency.
- It has a limited supply of 21 million coins, which could drive up demand in the future.
- Institutional adoption and recognition as a store of value have increased.
Ethereum (ETH)
- Ethereum is a leading platform for decentralized applications (DApps) and smart contracts.
- The Ethereum network is evolving constantly, with upgrades like Ethereum 2.0 aiming to improve scalability and sustainability.
- It has a strong developer community and widespread adoption in the blockchain space.
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Cardano (ADA)
- Cardano is a third-generation blockchain platform known for its focus on sustainability, scalability, and interoperability.
- It has a well-defined roadmap and a strong academic foundation.
- Cardano’s Proof of Stake (PoS) mechanism is energy-efficient compared to Bitcoin’s Proof of Work (PoW).
Notably, ChatGPT’s top three cryptocurrencies are all in the top 10. Cryptocurrencies are ranked by market capitalization, and according to data from CoinMarketCap, Bitcoin is number one with a market cap of $529.74 billion. Ethereum is second, with a market cap of $199.46 billion, and Cardano is seventh, with a market cap of $8.77 billion.
It will be interesting to see how these predictions unfold. You can also check out what Google Bard, ChatGPT’s biggest rival, predicted for Cardano.
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