Kevin O'Leary Says 'NFTs Will Be Bigger Than Bitcoin': What Else Does Mr. Wonderful Think About The Future of Crypto?

See Kevin O’Leary at Benzinga’s Future of Crypto event in December. Reserve a seat now!

Kevin O’Leary said on Twitter earlier this year that "NFTs will be bigger than Bitcoin."

The "Shark Tank" investor added his reason why: the ability for NFTs to record ownership. 

At an estimated market capitalization of around $40 billion, the non-fungible token market will need to grow by over 1,000% to surpass Bitcoin’s market capitalization.

Yet given the vast applications for NFTs, this prediction is actually fairly reasonable. While Bitcoin is primarily used as a store of value –– as well as a currency in some instances –– NFTs can be used for intellectual property, art, gaming, identity and more.

The shark, investor and crypto bull has long supported cryptocurrency, DeFi and NFTs.

Amid the market downturn, O’Leary stated he’s doubling down on crypto, as there are plenty of opportunities to take advantage of in a bear market. Alongside Bitcoin, O’Leary has also invested in Ethereum ETH/USD, Algorand ALGO/USD, Solana SOL/USD, Polygon MATIC/USD and many others.

To get more personal insights from Mr. Wonderful, we’re hosting our inaugural cryptocurrency conference in Manhattan in  December.

Join us to meet the founders and investors building the future of crypto, NFTs, DeFi, and more at Benzinga’s Future of Crypto conference. Tickets just went live, so be sure to reserve a seat before prices increase. 

Photo via Shutterstock.