Mason Versluis Mason Versluis
Mason Versluis, 21, has nearly 500,000 followers on TikTok. He shares tips and information about crypto and markets.
Insider recently interviewed him about his decision making process for which coins to invest and why.
Versluis stated that he would like bitcoin to 'get slayed,' because other coins have more real-use applications.
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Bitcoin is currently the largest cryptocurrency in terms of market value, and continues to outperform its rivals. Mason Versluis, a financial TikTok influencer, believes that Bitcoin will soon be overthrown by crypto competitors with more real-life applications.
Versluis, 21, also uses the username Crypto Mason. He has nearly 500,000 followers on his TikTok profile. This account allows him to create short videos to educate his viewers regarding crypto and the markets.
Insider spoke with Versluis about his market outlook. Versluis has been trading crypto since he is 15.
The psychological effect of bitcoin being always number one and king is possible to be eliminated. Versluis stated that by "slaying bitcoin", Versluis meant "I want something to pass it, and then we'll watch what happens afterwards."
According to CoinMarketCap, Bitcoin's market capitalization is just below $800 billion. This represents roughly $1.9 trillion of total crypto market value.
It has gained nearly 350% in value over the past 12 months. Versluis believes there is more value elsewhere.
He said that his father told him about XRP at the age of 17 and that he has been a part of my life ever since.
"XRP is a better bitcoin than I am," he said. He said that XRP actually addresses the payments problem more effectively than bitcoin could or will ever do. Ripple Lab's Ripple Lab XRP token can be used in fast-payments systems, an area in which bitcoin is not able to compete due to its slow network. XRP, one of the largest crypto coins, has risen around 320% in the past year.
Ether, which is the native token of ethereum, is the second largest cryptocurrency, accounting for around 20% of the total market. Due to its blockchain's ability run decentralized financial applications, smart contacts, and other protocols, investors have poured almost 800% of their cash into ether in the past year.
"It has to have use cases. This means: Does this token do anything? Do I buy this token just because it is going up in value? Versluis said.
"This is the company I personally invest in because of its potential to do something. He said that Ethereum is home to many decentralized applications.
Versluis doesn't believe he can take a position on a coin if he's a day trader.
He said, "That's a lot stress. You've got to stay at your computer watching markets."
"I will see an opportunity, invest some money, and then I'll ride that rocket until it's time for me to sell. It's gone. I then put it in USDT or USDC. Then, I make some profits and then I reinvest some into my main portfolio. He said that it was a slow process.
Versluis is a young trader who believes that crypto's decentralized and free nature is part of what drives him crazy. This raises the question: What does Versluis think about regulation in this space? He is not against regulation, unlike many crypto enthusiasts. He does however believe that rules must be adjusted to the realities of the crypto market.
It's a digital world. He said that we will only get more digital and virtual.
They can't take the existing system and laws and apply it to crypto. It doesn't work. This will result in a new way to look at tokens.
