O'Leary: NFTs could become bigger than Bitcoin

[TomPluz]

Despite betting that NFTs will surpass Bitcoin, Kevin O'Leary said he will hedge his bets and invest on “both sides” of the equation.

Millionaire investor and crypto proponent Kevin O'Leary thinks that the NFT sector could be worth more than Bitcoin in the future.

Speaking with CNBC’s Capital Connection on Jan. 5, O'Leary — also known as Mr. Wonderful — argued that NFTs provide a greater potential to attract capital than Bitcoin due to their ability to tokenize and authenticate physical assets such as cars, watches and real estate.

More of this story here: https://cointelegraph.com/news/why-kevin-o-leary-thinks-nfts-could-become-bigger-than-bitcoin


So would you agree that soon we can see NFT getting even bigger than Bitcoin - or is he is just imagining things as he is surely not so sure of this thing happening so bet on both sides of the equation?

[Fenix]

It seems that this is already happening a little. The dominance of bitcoin in the cryptocurrency market has now dropped even below 40 percent, and most likely, this percentage will continue to fall. In cryptocurrencies, now, in general, only NFT tokens are growing sharply in popularity and capitalization. Against the background of the growth in NFT capitalization, the dominance of Biteoin is falling. But if the total capitalization of NFT exceeds the capitalization of bitcoin, this is in principle, nothing will change in this market. However, if Bitcoin's dominance falls below a critical level, then big changes will begin in the market.

[vitek146]

The unique identity and ownership of an NFT is verifiable via the blockchain ledger. Ownership of the NFT is often associated with a license to use the underlying digital asset, but generally does not confer copyright to the buyer. Some agreements only grant a license for personal, non-commercial use, while other licenses also allow commercial use of the underlying digital asset.