Cryptocurrency Investor Takes Defensive Approach with Bitcoin, Ethereum and Gold-Backed Stablecoins

A cryptocurrency investor has decided to take a defensive approach by investing in cryptocurrencies that offer downside protection while still providing potential long-term returns.

The investor's strategy focuses on Bitcoin and Ethereum, two of the most widely-held cryptocurrencies, which have seen significant declines in recent months. Both currencies are considered undervalued due to their current prices, with Bitcoin trading at around $67,000 and Ethereum at $2,000 - down from all-time highs of $126,000 and $5,000 respectively.

The investor is also investing in a gold-backed stablecoin called PAX Gold, which tracks the price of gold and has seen significant growth this year. This investment provides an additional layer of protection against market volatility.