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Shark Tank star Kevin O’Leary, also known as Mr. Wonderful, says “Bitcoin will always be the gold,†outperforming other cryptocurrencies, such as ethereum, in the long run. He said “there are interests being brought out of all kinds of institutions†for bitcoin.

Kevin O’Leary Bullish on Bitcoin

Kevin O’Leary shared his thoughts about bitcoin and ether in an interview with CNBC Wednesday. While acknowledging that ether has been performing well lately, O’Leary insisted:

The chairman of O’Shares ETFs added that “Ethereum will always be the silver,†but emphasized, “that’s not a bad thing necessarily.†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 “going to be used as a form of tracking and payment system.†O’Leary pointed out, however, that Ethereum 2.0 has the potential to be “far more green in terms of how much energy it takes to create it.†Nonetheless, he insisted that it will never overtake bitcoin. “Will it ever take bitcoin? No,†he affirmed.

O’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, O’Leary said that he is only interested in buying “clean†bitcoins that are mined sustainably in countries that use clean energy, not “blood coins†from China.

Do you agree with Kevin O’Leary? Let us know in the comments section below.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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