Will NFT Make Bitcoin Obsolete?

Pushing Bitcoin into the nettles – Investor and millionaire Kevin O’Leary once looked very bullish on Bitcoin (BTC) in a September 2021 statement. But he appears to be even more excited about the future of non-fungible tokens (NFTs). .

NFT, really stronger than Bitcoin?

At the moment, everyone is grabbing this new type of token made unique by the blockchains that are the NFT. So much so that this young market it already produces billions of dollars. And this may just be the beginning of a surge.

In any case, this is the opinion of Kevin O’Leary, which once again cheered on cryptocurrencies during an interview with CNBC’s Capital Connection program. The millionaire, made famous in particular by the show “Shark Tank” on investments in startups, explained that he also saw the NFT market become more important compared to the capitalization of Bitcoin.

“You will see a lot of movement in the next few years in terms of online authentication, insurance policies and transfer of ownership tax, which will make NFTs a much larger and potentially more fluid market than just Bitcoin.” Kevin O’Leary

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Bitcoin or NFT? The millionaire intends to play on both fronts

If the investor is so optimistic, it is because he believes that non-fungible tokens will allow it prove ownership of real world objects.

However, what is nicknamed “Mr Wonderful” for the far-sightedness of his investments does not count don’t abandon Bitcoin and its growth potential. Therefore, Kevin O’Leary makes it clear that he won’t just bet on one horse:

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

Furthermore, the millionaire also relies heavily on a third domain of the cryptosphere, namely the decentralized finance (Challenge). As CNBC recalls, Kevin O’Leary thus revealed that his most important position in cryptocurrencies is currently in the ethers of Ethereum (ETH) and also owns smaller amounts in projects polygon (MATIC) e Solana (SOL), as well as some bitcoin.

Everyone seems to agree on a great future for non-fungible tokens, but you still need to know how to acquire and store them properly and securely. Do not hesitate to follow our small guide to investing in NFT, which will allow you not to get lost in this emerging jungle where marked paths are still rare.

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