Celebrity investor Kevin O’Leary recently shared his thoughts on Solana (SOL), Polygon (MATIC), and Hedera (HBAR). The billionaire, who scrutinized altcoin projects, shares how he met the teams and how he came to a decision. Details are on Kriptokoin.com.
Kevin O’Leary evaluates 3 altcoin projects
In an interview with Anthony Pompliano at The Best Business Show, O’Leary explained his view that cryptocurrency has become “software” rather than an alternative form of money. He noted that he uses a similar process to review crypto projects as he does at traditional software companies, including looking at the team behind them and their vision. He used the example of Polygon to explain his approach to investing in a crypto project:
I wanted to meet the engineering team in Dubai to invest in Polygon. I met the team, heard the vision of what they did, looked at the economic reality and the result, their potential… The first rule is the team. If I evaluate the team, good engineers, good strategy, good group, I am interested…
O’Leary continues with his second criterion:
Here is the second test. What economic value do they create? In the case of Polygon, batch processing to reduce gas fees on Ethereum is a smart idea. We have an economic reason to continue this. You save money. Transaction fees are less. I think the potential of this is huge.
Hedera (HBAR) and Solana (LEFT)
Another example of a project that passed the billionaire’s tests is Hedera (HBAR):
Great team, good engineers. What is the economic premise that will make it grow? Boeing wants a semi-centralized/decentralized platform, they want the best of both worlds. HBAR can deliver it, check the box there.
Finally, O’Leary has this to say about Solana (SOL):
They try to solve problems in a different way to speed things up. Who is working on this? Sam Bankman-Fried, founder of the FTX exchange, and his team. Why don’t you bet on that horse?
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