Shark Tank star Kevin O’Leary (Kevin O’Leary), also known as Mr. Wonderful, said that “in the long run, Bitcoin will always be gold” and its performance is better than other cryptocurrencies such as Ethereum . He said, “Various institutions have brought benefits.”
Kevin O’Leary is bullish on Bitcoin
Kevin O’Leary shared his thoughts on Bitcoin and Ethereum in an interview with CNBC on Wednesday. While acknowledging that Ethereum has performed well recently, O’Leary insisted that:
Bitcoin will always be gold.
The chairman of O’Shares ETF added: “Ethereum will always be silver,” but he emphasized, “This is not necessarily a bad thing.” He did not mention the names of other cryptocurrencies.
The Shark Tank star pointed out that Ethereum may have upside when it transitions to a new model, but he believes that Ethereum is mainly “will be used as a tracking and payment system.” However, O’Leary pointed out that Ethereum 2.0 has potential “It’s greener in terms of the energy needed to make it.” Nevertheless, he insisted that it will never surpass Bitcoin. “Will Bitcoin be needed? No,” he confirmed.
O’Leary revealed in February that after Canadian regulators approved the Bitcoin Exchange Traded Fund (ETF), he had allocated 3% of his investment portfolio to Bitcoin. He explained that Bitcoin advocates believe that cryptocurrency is digital gold and a hedge against inflation that will appreciate over time.
Mr. Wonderful explained in detail:
Now, Bitcoin is hitting new highs almost every week, which proves that various institutions are arousing people’s interest, and now they are trying to figure out: Is this currency? Is it an asset? Is it property? …This gives you a sense of interest in institutions and individuals.
Earlier this month, O’Leary said that he was only interested in buying “clean” bitcoins, which are sustainably mined in countries that use clean energy, rather than China’s “blood coins.”
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