According to Odaily, trader Eugene has highlighted in his community that portfolios lacking a core allocation of Bitcoin have generally underperformed compared to traditional stock market indices like the S&P 500 in the current cycle. Unlike the 2019–2022 period, where crypto assets significantly outpaced traditional assets, indicators such as ETH, SOL, and TOTAL3 (the total market capitalization excluding BTC and ETH) have not surpassed U.S. stock benchmarks this cycle. Eugene suggests that as the crypto market matures and public allocation increases, the era of achieving financial freedom solely through crypto assets is fading. He warns that continuing to hold only crypto assets without Bitcoin or leveraged Bitcoin could be a strategic mistake. Even in cycles with increased risk appetite, a 2x long position in Bitcoin might outperform a single long position in other high-beta cryptocurrencies.

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