HomeNewsMillionaire investor Kevin O'Leary thinks NFTs could outdo Bitcoin

Millionaire investor Kevin O’Leary thinks NFTs could outdo Bitcoin

Investors worldwide have their opinions about crypto and its related technologies such as NFTs, Metaverse and CBDC. Recently, Millionaire investor Kevin O’Leary has given his view about Bitcoin and NFTs.

At CNBC’s Capital Connection yesterday, Kevin O’Leary said that NFTs provide a more significant potential to attract capital compared to Bitcoin. He added that this is due to Bitcoin’s ability to tokenize and authenticate physical assets such as cars, watches, and real estate:

“You’re going to see a lot of movement in terms of doing authentication and insurance policies and real estate transfer taxes all online over the next few years, making NFTs a much bigger, more fluid market potentially than just Bitcoin alone.”

Following that, he said that he would not bet on it and would invest in “both sides of that equation”.

Previously, Kevin, also known as Mr. Wonderful had scepticism towards crypto. However, he changed his tune with time, which he admits is due to the growing trend of regulators warming up around the world.

However, many people in the industry don’t agree with the comparisons between Bitcoin and NFTs. For example, co-founder and chief operating officer of CoinGecko, Bobby Ong, told this to Cointelegraph:

“it’s probably not fair to compare Bitcoin, which is a single asset, to NFTs which are an entire sector.”

Moreover, he added:

“I think collectively if you look across all NFTs, and the fact that 2021 was year one of market adoption, there’s definitely still a lot of room to grow.”

CoinGecko had recently published a book called How To NFT. The book gives a rundown about newbies entering the NFT space.

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