Shark Tank’s Kevin O’Leary Believes That NFTs Could Be Bigger Than Bitcoin, Here’s Why

Kevin O’leary – a millionaire investor and TV personality – has recently  proclaimed that NFTs could become a “much bigger, more fluid market  potentially than just bitcoin alone,” in an interview with CNBC’s  Capital Connection on Wednesday.

O’Leary, the chairman of O’Shares Investment Advisers, said his belief  in NFTs stems from the idea that can they prove ownership of real-world  items, such as designer watches or flash cars, digitally rather than  with paper records, CNBC states.

NFTs are unique and non-interchangeable tokens stored on a blockchain, and they tend to be associated with  reproducible digital files such as photos, videos, and audio.

Nevertheless, he even discussed his investment strategy for the crypto  market as he told, “We’ll see what happens but I’m making that bet and  I’m investing on both sides of that equation.”

What’s more, he’s given his opinion on the market’s bubbles,  diversification and regulation, along with listing the coins that he  currently owns.

On Wednesday, he disclosed that his largest position is in ether, while he also owns some polygon, solana and bitcoin.

Kevin O’Leary emphasized on the need for regulation of  cryptocurrencies to prevent money laundering and provide some financial security to the community and  its potential customers. He has cited his own home country, Canada, as  an example for a more progressive jurisdiction on the matter of crypto.

He also mentioned Switzerland and United Arab Emirates are some of the  countries that are opening their gates to the crypto world. “You have to  be optimistic and constructive… the floodgate of capital will come in  through sovereign and pension plans that doesn’t exist yet.”

Yellow Star
Yellow Star

Shark Tank’s Kevin O’Leary Believes That NFTs Could Be Bigger Than Bitcoin, Here’s Why