New holder here, my thoughts on why I’m buying and holding ICP long-term
ICP to me is a very interesting project, and from what I understand about it, it is built to be a competitor to AWS, Google Cloud, Azure, etc. I’ve been chatting with several LLMs as well about it, and they all agree that ICP’s technology is SOTA and is the most capable of scaling agentic agents in the coming years.
With cloud computing alone projected to reach 2 trillion dollars in annual revenue by 2030, I feel like ICP is worth taking a bet on, assuming they can eventually obtain at least 1% of the market in this cloud computing market.
If ICP can capture 1% of the global cloud compute market, that would put ICP’s annual revenue to around 20 billion a year, and typically the market prices cryptocurrencies around 10-30x their annual revenue. Meaning ICP’s upside could potentially be somewhere from 200-600 billion MC if the market continues to behave this way. Even if ICP can capture .1% of the market that would put it around 20-60 billion in MC.
I feel like given these factors, it is worth to allocate
some of the yield I currently earn from other positions in my portfolio into a staked position on ICP. I don’t really feel as if there is any risk to this position (obviously there always is) but because I can use my ICP staking yield to DCA my position. I should eventually be able to gain a free yield producing asset with major upside by taking a position in this coin.