Prominent attorney Bill Morgan, known for his active involvement in the XRP community, recently shared his experiences with the popular altcoin SEI. While narrating the impressive growth of SEI, Morgan reaffirmed his long-term bullish beliefs on Ripple‘s native token, XRP.
In late October, Bill Morgan strategically decided to diversify his cryptocurrency portfolio. At that time, he believed XRP might lag in the ongoing bull market. To address this concern, he decided to add two new altcoins to his investment mix: AVAX and SEI. Morgan emphasized his commitment to diversification, stating, “I believe in diversification, and I am not a one coiner.”
Despite his enthusiasm for diversifying, Morgan never intended to part ways with his XRP holdings. Instead, his goal was to enhance his portfolio by adding “something extra” to it.
SEI catches Morgan’s attention
During this period, SEI, a relatively lesser-known cryptocurrency, caught Bill Morgan’s attention. At that time, SEI was trading at a modest price of $0.11. However, as he procrastinated his purchase to conduct further research on the token, SEI’s price doubled, prompting him to move to around 22 cents per token.
Since his initial purchase, SEI has demonstrated remarkable and consistent growth, surpassing the value of XRP. Morgan reflected on this astonishing growth and shared a valuable lesson he learned.
Bill Morgan openly admitted that his “big mistake” in the SEI investment was not waiting for a pullback before buying more. He stressed the importance of conducting thorough research before making investment decisions.
He said, “My big mistake was not waiting to buy while its price doubled because you need to do your research but after an initial overly conservative purchase, waiting for the price to cool off so I could buy more. It never cooled off, and I had to add more on a small dip at about $0.32. Now it is over $0.70. The lesson for me was waiting for pullbacks can mean missing out.”
SEI’s phenomenal growth
As of the latest available data, SEI is trading at $0.7552, showcasing a staggering increase of 29.10% in just one day, 81.97% in one week, and a remarkable 180.74% in one month. This incredible growth trajectory has undoubtedly caught the attention of cryptocurrency enthusiasts and investors alike.
XRP’s performance in comparison
Meanwhile, XRP is currently trading at $0.6344, marking a daily surge of 3.11%, a weekly surge of 1.11%, and a monthly surge of 2.12%. While XRP has experienced positive momentum, it is clear that SEI has outperformed XRP significantly in the short term.
Despite the impressive growth of SEI, Bill Morgan’s faith in XRP remains unwavering. His decision to diversify his portfolio with other altcoins was a strategic move based on market conditions.
Morgan’s commitment to XRP as a long-term investment remains intact, emphasizing that diversification should complement, not replace, a strong belief in a particular cryptocurrency.