Influencers in the crypto industry have recently been in hot water, facing legal action from residents of the United States, Australia, England, and Canada. Among those facing lawsuits is Ben Armstrong, also known as BitBoy Crypto, who was targeted for promoting FTX. Although Armstrong denies having any contact with anyone at FTX, the $1 billion lawsuit remains in effect.
Amidst the legal issues, BitBoy Crypto recently shared an update in a video detailing how his portfolio had taken a significant hit, dropping from $35 million to just $3 million. Armstrong had invested in the Celsius Network, resulting in significant losses to his altcoin portfolio. In response, he has been developing a new investment strategy.
Diversifying Portfolio with Bitcoin and Ethereum
To rebuild his portfolio, Ben Armstrong is planning to invest in both Bitcoin and Ethereum, with 30% of his investments going into the two cryptocurrencies. The remaining 70% of his portfolio will be distributed among altcoins such as Polygon, Arbitrum, Solana, Polkadot, and XRP, and possibly even meme coins like Big Eyes Coins.
Armstrong is optimistic about the future of these coins, particularly XRP, which he believes will skyrocket once the ongoing court case with the US Securities and Exchanges Commission concludes. He plans to make his investments over time using dollar-cost averaging, meaning he will invest a fixed amount of money in a coin at regular intervals, regardless of the price.
XRP’s Uncertain Future
XRP’s value has been particularly volatile compared to other cryptocurrencies due to the ongoing legal battle with the SEC. The SEC has accused Ripple, the parent company of XRP, of selling the token without proper registration, and considers it a security. The delisting of XRP by major exchanges like Coinbase has led to a significant drop in its value.
The future value and performance of XRP remain highly uncertain and will largely depend on the outcome of the SEC vs Ripple case. As of now, XRP ranks as the sixth most popular cryptocurrency according to CoinMarketCap.
Arbitrum Making Waves as Ethereum Scaling Solution
Arbitrum, a Layer-2 scaling solution for Ethereum, has been performing exceptionally well since its launch in May 2021. The platform has gained popularity among decentralized applications and platforms that operate on Ethereum, as they consider it a viable solution to address scalability issues faced by the network. Arbitrum allows for faster and more cost-effective transaction processing.
The platform is currently trading at $1.20, with a trading volume of $1,133,827,320. It holds the 38th position on CoinMarketCap with 1,275,000,000 ARB coins in circulation.
Is BitBoy Crypto All-In on Big Eyes Coin?
Big Eyes Coin (BIG), a new cat-themed meme coin, is making headlines for its impressive performance during its presale, having raised $32.5 million out of its $50 million target so far. The coin has managed to build a strong following on social media with its adorable imagery, which has captivated audiences.
It aims to give back to the community in big ways, offering loot boxes with prizes, active charity involvement, and holding an NFT club. Investors can receive 250% returns when they buy $BIG or loot boxes with the code BULLRUN250. On March 31, BIG announced its mintable NFT cards.
Should Beginner Investors Consider Big Eyes Coin?
Big Eyes Coin has been receiving significant attention due to its recent performance. With its potential to compete with some of the most prominent names in crypto, beginner investors may be interested in adding the coin to their portfolio. However, it is essential to conduct thorough research and consider the risks associated with meme coins and the cryptocurrency market in general.
Find out more about Big Eyes Coin (BIG):
Presale: https://buy.bigeyes.space/
Website: https://bigeyes.space/
Telegram: https://t.me/BIGEYESOFFICIAL
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