NFTs will be bigger than Bitcoin

So Kevin O'Leary can say that he has expressed a positive outlook on NFTs that he believes will outperform Bitcoin, in addition to revealing his cryptocurrency holdings.

The Canadian businessman with a track record with software startups revealed that Bitcoin would be overtaken by NFTs in his view. He noted that NFTs provide a tremendous amount of value in terms of authentication and supply chain.

"He thinks non-fungible tokens are going to be bigger than bitcoin because it offers a lot of value around authentication, inventory management, O'Leary said.

his preference for NFTs tied to real-world assets. He also revealed that he was working with a team on a project in the watch industry, where he hoped that technology could be instrumental in combating the high level of fraud that can be obtained in the industry.

O'Leary revealed that projects were in development to ensure that NFTs are widespread and interoperable in such a way that they can work on any blockchain, adding that he hopes 2022 will be a great year for NFTs.

He also that he was investing in crypto that he considered had better software development teams.

"I own Hedera, Polygon, Bitcoin, Ethereum, Solana, Serum, these are bets on software development teams and there are many, many use cases for them."

O'Leary revealed that cryptocurrencies made up about 10% of his portfolio, and he is actively looking to increase his holdings to 20% in the coming months. Due to the multiplicity of use cases and projects on the network, he revealed that he had more exposure to Ethereum than any other cryptocurrency.

In his view, the current actions of the SEC and the lack of regulatory clarity were stifling this growth, as well as the desire of him and other corporate investors to comply. However, he believed that regulatory recognition of the asset class would see an increase in capital inflows from institutions. In the fourth quarter of 2021, O'Leary's crypto holdings in his portfolio have skyrocketed and show little sign of falling as it indicates his intention to increase his sizes.