According to a billionaire investor, Bitcoin’s leadership seems to depend on investors with big funds. Expressing that he believes in this, Kevin O’Leary says that investors with deep pockets love 4 altcoin projects. He then explains why these altcoins are a favorite of big funds. Here are the details…
“Ethereum is unlikely to topple Bitcoin”
O’Leary shared his thoughts by participating in a recent episode of Crypto Banter. In the episode, he talked about whether Ethereum (ETH) will topple Bitcoin. According to him, it’s hard to believe that Ether will usurp Bitcoin’s throne and become the king cryptocurrency. He explains the reason for this as money wants Bitcoin, regardless of which country it is. According to him, high-income countries such as Saudi Arabia, Norway or the United Arab Emirates do not pay attention to their Bitcoin analysis. They just want Bitcoin’s surrogate and high volatility to continue. The investor says it will help if Ether becomes the default platform for other digital assets.
However, he points out that in the short term it is standard for demand to make up 1% to 3% of a portfolio. The investor states that large funds do not invest more than 20% in any sector. However, he mentions that they never invest more than 5% in any project. They invest about 50 basis points on the low end and up to 300 basis points on the high end, he says. Finally, he claims that 99% of major funds in our time know nothing but Bitcoin.
Big funds love these altcoin projects
Kevin O’Leary talks about altcoin projects that big funds love after the Bitcoin-Ethereum benchmark. According to the billionaire, deep-pocketed investors like USDC, Solana, and Polygon the most. He points out that these have lower market capitalization than BTC and ETH. In other words, he expresses that he understands the doubts of investors for this reason. He also swears that if big investors have a Bitcoin plan, the BTC price will hit $60,000 in 2 weeks. At the time of writing, BTC is changing hands at $24,756 and ETH is trading at $1,987.
Polygon is at the target of corporate companies
In the past months, Polygon; Solana is included in Facebook’s Instagram NFT plan, along with Flow and Ethereum. According to this plan, Facebook plans to integrate NFTs into Instagram. Testing will begin soon in over 100 countries. Accordingly, 2 billion users of Instagram will be able to see NFTs built on altcoin networks such as Flow, Solana, Polygon and Ethereum. As we have reported as Kriptokoin.com, it is possible that a big increase in the price of MATIC will occur with the launch of the feature. However, the project also participated in Disney’s acceleration plan.
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