CNBC contributor and co-founder of Market Rebellion, Pete Najarian, admits that he was slow to take the leap into Bitcoin, but he now believes that the asset is going to get much bigger as it outperforms other markets.
In an interview with CNBC host Melissa Lee, Najarian says Bitcoin is on fire as more people and institutions become comfortable with the king crypto.
“I think people have gotten a lot more comfortable with it [Bitcoin] than they were a couple of years ago. I think every year that goes by, people find a little bit more comfort.
Obviously, the Jamie Dimons of the world so many others that weren’t involved initially have sort of started to get involved a little bit. And, so I think going forward, this is going to be something much bigger.
I’m getting a little bit more into it myself. My brother Jon has been into it for multiple years, but I think this is something that we’re all adapting to slowly, but we are adapting to it.”
Najarian points to Bitcoin’s performance throughout 2020, which has outshined gold and decoupled from the stock market in recent weeks.
“Some of us probably have gotten there too slowly, and I’m in that camp because this is a category that’s absolutely been on fire. I know it’s volatile, but it certainly is a category that’s gone just absolutely parabolic versus the markets.”
Pete’s brother and business partner Jon adopted Bitcoin much earlier, and keeps 5-10% of his portfolio in digital assets.