Shark Tank star Kevin O’Leary does not believe that any crypto money will replace Bitcoin (BTC), which ranks first with its market capitalization. However, he explains these by saying that he sees potential in various altcoin projects. Here are the details…
Kevin O’Leary: I don’t think Bitcoin will pass
According to his new interview with Stansberry Research, O’Leary has a long-term bullish trend in cryptocurrencies. The billionaire attributes the reason behind this to the fact that there is less and less BTC to be mined and it is becoming scarce. O’Leary’s full statements are as follows:
I don’t think grandpa cryptocurrency (BTC) will ever pass. I think mining will keep getting harder and scarcer. It’s like real estate for me. To me, BTC is AAA office real estate. I keep my coins forever. My assumption is that if undefeated it will at least match index performance over time.
O’Leary says that Bitcoin is still relatively unimportant compared to other asset classes, but that may change as new regulations come into effect. Individual investors who have invested in Bitcoin state that while they are “great,” they are actually nothing. “Actually, Bitcoin is less than a trillion dollars, which is nothing in the context of assets. How will this change? The only way to change is if we get regulation,” he says. In other words, he states that institutions need to be governed by the US Securities and Exchange Commission (SEC) and regulators to be allowed to buy BTC and altcoins.
Billionaire, especially drew attention to layer-2 altcoin projects
Although he sees Bitcoin as the best crypto asset, the billionaire, as we have also reported as Kriptokoin.com, Ethereum rivals Solana (SOL), Avalanche (AVAX), says he sees investment potential in Polygon (MATIC) and Helium (HNT). The billionaire uses the following phrases for these altcoins:
I think there is a lot of potential for productivity tools like Solana to increase the speed of transactions on the blockchain by a hundredfold. I want to buy. I love what happened in Avalanche. I also like what was done in the Helium project, I even have an investment. I love most of these different features. There is also Polygon, another network that aggregates transactions to reduce gas fees on Ethereum. These are all good ideas.
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