Shark Tank star Kevin Oâ€™Leary, also known as Mr. Wonderful, says â€œBitcoin will always be the gold,â€ outperforming other cryptocurrencies, such as ethereum, in the long run. He said â€œthere are interests being brought out of all kinds of institutionsâ€ for bitcoin.
Kevin Oâ€™Leary Bullish on Bitcoin
Kevin Oâ€™Leary shared his thoughts about bitcoin and ether in an interview with CNBC Wednesday. While acknowledging that ether has been performing well lately, Oâ€™Leary insisted:
The chairman of Oâ€™Shares ETFs added that â€œEthereum will always be the silver,â€ but emphasized, â€œthatâ€™s not a bad thing necessarily.â€ He did not mention other cryptocurrencies by name.
While noting that there is potential upside for Ethereum as it shifts to a new model, the Shark Tank star believes that Ethereum is primarily â€œgoing to be used as a form of tracking and payment system.â€ Oâ€™Leary pointed out, however, that Ethereum 2.0 has the potential to be â€œfar more green in terms of how much energy it takes to create it.â€ Nonetheless, he insisted that it will never overtake bitcoin. â€œWill it ever take bitcoin? No,â€ he affirmed.
Oâ€™Leary revealed in February that he had allocated 3% of his portfolio to bitcoin after Canadian regulators approved bitcoin exchange-traded funds (ETFs). He explained that bitcoin proponents view the cryptocurrency as digital gold and a hedge against inflation that will appreciate over time.
Mr. Wonderful elaborated:
Early this month, Oâ€™Leary said that he is only interested in buying â€œcleanâ€ bitcoins that are mined sustainably in countries that use clean energy, not â€œblood coinsâ€ from China.
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