$Frencken (E28.SG)$ Suitable for long-term holding

I first heard about Bitcoin $Bitcoin (BTC.CC)$ when I was still a student but dismissed it as a viable form of investment. It seemed like a new-fangled fad that would peter out eventually and I could not envision a world where cryptocurrency would be widely accepted. Why would we need a digital currency when fiat currencies had been serving us well? Investing in companies was safer as it was the traditional way, easily accessible through licensed brokerages and the value of a company was backed by its financial statements.
Fast forward to 2020-2021. Bitcoin has been dominating headlines for hitting new highs in market value at a time when companies are struggling to cope with mandatory lockdowns and shifting to a new paradigm of working from home, teleconferences, online shopping and contactless deliveries. People who invested in Bitcoin in the early days are now millionaires. Corporations in other industries are investing in Bitcoin. More companies are accepting it as a form of payment. These developments make me re-evaluate digital currencies in a new light. However, I am daunted by the staggering number of coins to choose from, some which I have never even heard of ...