Shark Tank star Kevin O’Leary believes that no other crypto asset will ever take the place of Bitcoin (BTC).
In a new interview with Stansberry Research, O’Leary explains why he is long-term bullish on the benchmark cryptocurrency.
“I don’t think you’re ever going to pass the granddaddy crypto. That’s going to continue to become harder and harder to mine and just get more scarce. It’s real estate to me. To me it’s AAA office real estate. I’m holding my coins in perpetuity. My assumption is it will at least match the indexes performance over time if not beat it.”
O’Leary says that Bitcoin is still relatively insignificant compared with other asset classes, but that could change as new regulations take hold.
“It’s great to talk about retail investors in Bitcoin, but they’re absolutely nothingburgers. In fact, Bitcoin’s less than a trillion dollars, which is nothing in the context of assets. How’s that going to change? The only way that changes is if we get policy. In other words, if we allow institutions to buy Bitcoin and cryptocurrencies and in order to do that we need the SEC and the regulators to rule.”
Despite considering Bitcoin as the best crypto asset, the billionaire says he also sees investment potential in Ethereum challengers Solana (SOL) and Avalanche (AVAX), as well as in the layer-2 scaling platform Polygon (MATIC) and the decentralized network for Internet of Things, Helium (HNT).
“Productivity tools like Solana, which would increase the speed of transactions on blockchain by a hundredfold, I think that has a lot of potential.
I want to own that. I like what’s happening with Avalanche. I like what’s happening with Helium, I own that too. I like a lot of these different properties. Polygon, another one that’s aggregating transactions to reduce gas fees on Ethereum. These are all good ideas.”
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