The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Will Ethereum Flip Bitcoin? Kevin O’Leary Says Sovereign Wealth Funds Will Determine Top Crypto by Market Cap

by Daily Hodl Staff
August 15, 2022
in Bitcoin, Ethereum

Prominent venture capitalist Kevin O’Leary believes a certain group of deep-pocketed investors will dictate whether Bitcoin (BTC) remains the top crypto asset by market cap.

In a recent installment of Crypto Banter, the Shark Tank star says he’s having a hard time believing that Ethereum (ETH) will usurp Bitcoin and become the king cryptocurrency.

“When I talk to sovereign wealth, I don’t care if it’s Norway, or the UAE (United Arab Emirates) or Saudi, they want Bitcoin. They have not got to the analysis that we’ve just gone through. They want the proxy of Bitcoin, and they want that volatility… 

If [ETH] becomes the default platform for other digital assets, that will help. But in the immediate term, the demand is for 1% to 3% of a portfolio, a standard. These sovereign wealth portfolios look like this: no more than 20% in any one sector, no more than 5% in any one name…

When you ask them if you could buy any digital asset, which one would it be and what allocation. It’s about 50 basis points on the low end up to 300 basis points on the high end. And 99% of the time they say Bitcoin. That’s all they know.”

O’Leary adds that the sovereign wealth funds are just waiting for a clear regulatory framework before diving into Bitcoin.

“It’s going to take a while for that demand to come in, and I think it would be number two. And they certainly like USDC, and they love Solana, Polygon. You go down the list based on market cap. I get it, but right now, if we had policy on Bitcoin, I swear to you the price will be $60,000 in two weeks.”

At time of writing, BTC is changing hands for $24,756 and ETH is trading at $1,987.

I

Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Tithi Luadthong

Submit a Press Release

Industry Announcements

  • Coinbase-Backed DeSo Unveils MegaSwap, a ‘Stripe for Crypto’ Product, With Over $5 Million in Volume
    February 7, 2023
  • Chainflip Partners With Axelar and Squid To Expand DeFi to New Assets
    February 7, 2023
  • Sidus Heroes Named Number One Gaming Metaverse in UAE
    February 7, 2023
  • Binance Launches Free Tax Tool To Provide Tax Details for Crypto Transactions in First Step of Global Launch
    February 6, 2023
  • BlockJoy Secures Nearly $11 Million From Gradient Ventures, Draper Dragon, Active Capital and More To Launch Decentralized Blockchain Operations
    February 2, 2023
  • Peer Acquires Elite Team of Engineers Behind Zenly’s Popular 3D Maps
    February 1, 2023
  • Sign Up Today for the TRON Grand Hackathon aka HackaTRON Season Four
    February 1, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$23,245.23
$23,245.23
1.09%
Ethereum
$1,668.58
$1,668.58
1.43%
Cardano
$0.395759
$0.395759
1.19%
XRP
$0.402754
$0.402754
0.09%
Dogecoin
$0.09213
$0.09213
0.35%

Spotlight

  • New Cardano-Based Stablecoin DJED Quickly Attracts Over 27,000,000 ADA in Reserves
    February 1, 2023
  • U.S. Senate Banking Committee Schedules ‘Crypto Crash’ Hearing for February 14th
    February 4, 2023
  • ARK Invest Details Massive $1,480,000 Bitcoin Price Target, Says BTC’s Long-Term Opportunity Is Strengthening
    February 7, 2023
  • Legendary Trader Peter Brandt Says Bitcoin Flashing Rare Bullish Signal – Here’s His Target
    January 31, 2023
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl