Bitcoin Still a Buy Despite Recent Losses Says Blockchain Venture Capitalist

Blockchain venture capitalist Spencer Bogart says bitcoin's increased number of use cases is proof that the coin is becoming more institutionalized.

He says to sell coins like Cardano, TRON, IOTA and NEO.

But hold ethereum, ripple, bitcoin cash and EOS, Bogart says.

“Every major bank is trying to do something in the space," Bogart, a partner at Blockchain Capital, told CNBC's "Fast Money" on Friday.

"Either they're going to be offering bitcoin to their clients, they're working on a custody platform or they're opening up a trading desk," he added. "A deeper institutionalization of bitcoin is overall positive," he said.

Forget alt-coins, just buy bitcoin, says Blockchain Capital's Spencer Bogart from CNBC.