Kevin O’Leary: “NFT can become more in demand, than bitcoin " – Bits Media

Entrepreneur and Shark Tank star Kevin O'Leary has become an NFT advocate and believes, that they can surpass Bitcoin. However, he does not refuse to buy BTC.

Investor Kevin O'Leary (Kevin O’Leary) strongly believes in the potential of non-fungible tokens. He
justified this, that NFT owners can prove their ownership of real items, be it designer watches or luxury cars, and they can do it digitally, without using paper documents.

O'Leary surmised, that collectible tokens will find wider use in the next few years. For example, NFTs can be used to issue documents, confirming identity, registration of insurance contracts, as well as in real estate. According to the entrepreneur, this will make NFTs a much larger and more liquid market compared to Bitcoin.

"Time will show, will this happen, but I'll bet on both sides of this equation. I will invest in NFTs and Bitcoin. Any one of them could be a winner.", - said O'Leary.

Really, in 2021 year, the excitement around NFTs continued to grow. According to Dappradar, in the third quarter of last year, the volume of sales of collectible tokens increased to $10.7 billion. This figure is eight times higher than the previous quarter.. but, as NFTs evolve, Fraud cases have become more frequent in this industry. A digital art fan recently fell victim to a phishing scam., from whom they were stolen 16 NFT worth $2.2 million.

O'Leary wasn't always a supporter of cryptocurrencies. A few years ago, he called Bitcoin “garbage and a worthless currency.”, which is worth nothing". Then O’Leary became interested in digital assets and was more loyal to them, since they can be used to diversify an investment portfolio. In the fall, the entrepreneur demonstrated support for DeFi, calling decentralized finance an analogue of the traditional financial system, working on blockchain. O’liri noted, what besides BTC, his cryptocurrency portfolio includes ETH, SUN AND MATIC.

Kevin O'Leary also believes it is necessary to clarify the regulation of the cryptocurrency industry, in particular, stablecoin. According to the entrepreneur, stable cryptocurrencies can also be considered an excellent means of exchange, if people have difficulty getting money in cash.

IN 2020 O'Leary announced his readiness to invest in Bitcoin ETFs, if this investment product is approved by the US Securities and Exchange Commission (SEC).