Kevin O’Leary, a prominent TV personality, believes that non-fungible tokens may emerge as a “much larger and more fluid market” than Bitcoin. It’s a surprising prediction considering that O’Leary, a Canadian businessman, stated last summer that no other cryptocurrency has the potential to replace it.
O’Leary’s most recent forecast
Kevin O’Leary (a.k.a Mr. Wonerful) is another prominent figure that has shown mixed feelings about the cryptocurrency industry throughout the years. In 2019, his first impression of the crypto world was to call it “worthless.” Also, it is “garbage” because it can’t be accessed in large quantities.
He said that he respected bitcoin at the beginning of 2021. He announced his entry into the BTC ecosystem a few months later by allocating 3% to it.
O’Leary, who is known for hosting Shark Tank’s reality TV series, spoke to CNBC about non-fungible tokens. He also discussed their potential growth over the next years. NFTs will be popular as usual in 2021 and could even surpass bitcoin, O’Leary opined.
He believes digital collectibles are a way to prove ownership of real-world objects like watches or cars.
“You will see a lot more movement over the next few year in terms of authentication, insurance policies, and real estate transfer tax all online, making NFTs potentially a larger, more fluid market than just bitcoin.”
To conclude, Mr. Mr. Wonderful stated that he “invests on both sides” of the equation.
Shark Tank’s host, however, had a different opinion. He stated that the primary cryptocurrency was the best long-term investment tool. He said that it was comparable to Ether and other digital assets like Ether.
“That’s the gold standard for digital currency. It is the only digital currency that can be replaced.
Kevin O’Leary Source: time.com
What does Mr.Wonderful not like?
O’Leary supports bitcoin and other non-fungible tokens. He is also a strong advocate for Ether, Solana and Circle’s stablecoin, USDC.
But, there’s one thing he doesn’t like about Dogecoin. Mr. Mr. Wonderful said that investing in the memecoin is not different from gambling. He said that DOGE does not have an inherent value and should therefore be considered pure speculation.
“When you speculate about something like Dogecoin, that’s no different from going to Las Vegas and placing your money on red or green – it’s pure speculation.”
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