Kevin O’Leary is always at odds with cryptocurrencies, even when he is speaking for them. He claims that he likes to tell things as they are and refrain from using diplomacy. The billionaire has made a name for himself, hosting the popular TV series Shark Tank. Other than the reality TV hosting, Leary is being invited by media outlets to shed light on current financial affairs and share his views on the latest trends and market behaviors.
In a recent CNBC interview, the Shark Tank host shared his views on the ongoing Bitcoin and Ethereum trading pair. A few days ago, Ethereum managed to register a new ATH of $2,700. While Ethereum was reaching new heights, Bitcoin was struggling behind seeking stability and a better grip in the market. This scenario induced the suggestion in the crypto markets that Ethereum would eventually outrun Bitcoin.
Why is Bitcoin Untouchable in the Crypto Market?
Leary has refused to endorse the idea that Ethereum can upstage Bitcoin. In his expert opinion, Bitcoin has been doing so well in the market without offering other facilities that Ethereum is offering. For the most part, Bitcoin is the ultimate king in the crypto world, and Ethereum is like a clever minister that has managed to enter the palace in service of the monarch.
Leary further told the media that Ethereum is looked upon in the market as the facilitator for cryptocurrencies. Meanwhile, Bitcoin attracts the attention of institutional investors as a legitimate and ultimate store of value. Yesterday, American banking giant JP Morgan exclaimed that Ethereum has the potential to outrun Bitcoin. However, the sentiment of the market seems to be divided on this topic.
Kevin O Leary Journey from Bitcoin Cynic to Bitcoin Advocate
Bitcoin has managed to turn even the toughest and strongest cynics around. Kevin O Leary is included among the investors who have been publically cynical about cryptocurrencies. The same can be said about his co-host and friend Mark Cuban. Leary has called Bitcoin not real money and crypto crap openly until the end of last year.
After the eminent boom of Bitcoin in the present year, Leary changed his lane and announced that he has decided to stake 3% of his reserves into Bitcoin. The crypto transition of Leary has been met with more challenges as the Shark Tank host claimed that he would only look for Bitcoin that is mined in the United States as he refers to Chinese mined Bitcoin as blood coins.
