NFTs could outshine Bitcoin: Shark Tank’s Kevin O’Leary explains why

Sahana Kiran

NFTs have certainly managed to capture the attention of the entire globe. But, would it outperform the world’s largest cryptocurrency? Shark Tank’s Kevin O’Leary aka “Mr. Wonderful” believes so and here’s why.

The crypto market has been in awe of the NFT space. With almost every celebrity diving into the non-fungible asset shores, the crypto-verse has witnessed increased adoption. While the NFT space is relatively new to the digital world, it managed to score big. O’Leary expressed his bullishness towards these tokens and suggested that they had the potential to become “much bigger than Bitcoin.”

Appearing in a recent interview with CNBC, O’Leary pointed out that NFTs had the ability to lure in more capital when compared to Bitcoin, owing to the former’s capability to tokenized or digitize physical assets like watches, cars, and so on.

He further added,

“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.”

NFTs and Bitcoin; Kevin O’Leary sails on two boats

Despite laying out a narrative that NFTs would become much bigger than Bitcoin, O’Leary suggested that he would be investing in both these markets.

The Shark Tank investor wasn’t always a fan of crypto. However, O’Leary was smitten by the Bitcoin bug causing him to invest in WonderFi. More recently, the firm acquired prominent crypto exchange Bitbuy for a whopping $161.8 million in cash and shares.

This was proof enough that O’Leary was sailing on both, the traditional crypto-asset ship as well as the NFT ship. Speaking about the same, O’Leary stated,

“We’ll see what happens but I’m making that bet and I’m investing on both sides of that equation.”

Move over Bitcoin, the Shark Tank investor possessed a variety of cryptocurrencies in his portfolio. Previously, Mr.Wonderful revealed that he held “a lot of Ethereum.” Along with this, his portfolio included Solana [SOL], and Polygon [MATIC].