Kevin O’Leary, a Canadian multi-millionaire investor, is now comparing holding Bitcoin to owning shares of software majors. O’Leary in a recent Twitter post said that holding BTC assets is similar to holding shares of companies like Microsoft and Yahoo. Between 2019 and 2021, the 67-year-old ‘Shark Tank’ judge has turned from an avid opposer of Bitcoin to one of its major promotors. As per his predictions, Bitcoin values will touch $300,000 (roughly Rs. 2.25 crore) once the market attains more operational clarity.
“Bitcoin is not just a coin or currency, it’s a software,” O’Leary, who also calls himself Mr. Wonderful wrote on Twitter.
Bitcoin is not just a coin or currency, it’s a software. Institutions like to criticize me for investing in Bitcoin, but how I see it, if you hold big positions in companies like Microsoft or Yahoo, it’s all the same.
— Kevin O’Leary aka Mr. Wonderful (@kevinolearytv) February 20, 2022
O’Leary, who called Bitcoin ‘garbage’ in 2019 currently has three percent of his portfolio invested in Bitcoin.
The serial investor and TV personality is, however, not the first person to compare Bitcoin to the shares of major corporations.
Recently, Jurrien Timmer, Fidelity’s Director of Global Macro had compared Bitcoin’s growth to Apple’s coming-to-power in the 90s. Last week, Fidelity International launched its first investment product that tracks Bitcoin in Europe, as the British investment manager taps into rising demand for exposure to digital currencies.
What matters most is where the demand curve is going, and the answer continues to be “up and to the right.” Below we see that the number of Bitcoin addresses (with a value of more than zero) continues to move higher, following a simple power regression curve. /2 pic.twitter.com/L2qplNUNxH
— Jurrien Timmer (@TimmerFidelity) February 17, 2022
Bitcoin is currently trading at $37,156 (roughly Rs. 28 lakh), as per CoinMarketCap.
Founded in 2009, its market cap exceeds $704 billion (roughly Rs. 52,74,836 crore). Bitcoin took just 12 years to hit the record peak of $1 trillion (roughly Rs. 74,88,050 crore) last year.
In comparison, Microsoft took about 44 years to hit the $1 trillion valuation while Apple, Amazon, and Google took 42 years, 24 years, and 21 years, respectively for the same breakthrough, said a report by CryptoParrot.
Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.