Kevin O’Leary On Bitcoin and Ethereum

Kevin O’Leary On Bitcoin and Ethereum

I don’t think Bitcoin is a coin – it’s software. I think Ethereum software, Polygon software, H-bar software, any of these projects from Helium, Avalanche – all software. The only reason they’ll survive long term is they bring some kind of economic value to the table. So, give me a polygon which I just took an investment in on Sandeep’s last deal, basically, says look, let’s aggregate transactions and push them through Ethereum in one transaction, cutting gas fees by a huge amount which works in India. Well, why wouldn’t I invest in that? That’s a great idea.

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 I mean there’s real economic value there, same with Helium. If it’s going to change Telco. I like the idea that Solana is going to speed up the blockchain. Well, Sam Bankman Freed says: ‘Yes, why not put a 5 allocation into that?’ I don’t know who’s going to win. I got 32 positions and only need two of them to work. I’ve made a shitload of money, so it doesn’t. I look at it in the inaudible days of the internet in the 90s. Some of these are going to be pets.com, but others are going to bring tremendous value and be the Google`s and the Microsoft’s of their generation.

The whole idea that crypto is worthless – that’s stupid. It’s here to stay and the only reason is. I just a couple of weeks ago told an International Speaking Agency that wanted to hire me in a country. I’ll leave nameless – they wanted to ach me the foreign currency transferred in U.S. dollars. It was going to take three weeks. I said never going to do it just pay me in USDC. If you can do that I’ll do the deal and I was able to pay the agents. Every expense, everything, in one second, so why wouldn’t Stablecoin be a long-term great payment system for everybody. If I’m using it now and I have to push back on people, saying: ‘I can’t do that’. I said well. I can’t come and speak if you pay me USDC or give me another stablecoin. I don’t care which one that way. 

I can just put it through my account and pay everybody in two seconds. So, that’s why I know that’s going to stay plus you’ve got bills coming from senators and yada look there’s value in these protocols. They’re just software. How do you manage timing as an investor and are you just saying: ‘Look! I’m gonna be comfortable holding this for the next 10-15 years and I’m not going to even try to time markets. I’m going to invest mostly in private companies.’ The issue with crypto is you can have liquid tokens and so it’s difficult to maybe stake volatility for some people. But how do you do it? You can’t manage time, you can’t time the SP, and you can’t time crypto investments. You got to go long and you got to be diversified.

I mean I have so many positions. I don’t know what’s going to work and you can’t know. You either believe in the metric and the protocol of productivity around financial services. You don’t I’m a believer but I also own some very speculative stuff like Potherium. Potherium is cats and why would I invest in that because I’m big in cat DNA development and Potherium gives back to shelters for animals. I mean that’s like where’s that going – who knows. But I own a bunch of it because I want to be supportive of animal shelters. 

It’s a way I can do it on a very democratized way, but that’s not exactly economic. You know, productivity enhancement that’s just a cause and a movement which also can be accommodated by tokens and coins. Then I’m very big in watch collecting.

I’m on a very big protocol to write the white paper for watch NFTS for authentication and insurance not even trading the NFTS just providing authentication. So, you can ensure the portion of your watch portfolio that you’re wearing and the rest are in a safe. You don’t have to insure you can do that with the NFT and the watch industry. The secondary market is 12x, the primary market – it’s billions. You need the NFT. All of these are protocols that I’m invested in because I live them daily. I think a lot of people have become very interested in them. They might not even care about crypto but people love collecting, people love differentiating. I think NFTS is this idea to create a digital identity. I’m curious to get your thoughts on NFTS. If you like them, if you collect them, what you think that is doing to the overall crypto market? I do like NFTS. I’m a little worried about the regulator because if NFT has utility. In other words, it pays a free ticket to the formula one race or it pays interest or a royalty back to its mentor that smells like a security to me. It really does like a stock that pays a dividend and I. don’t think i want to get involved in that. While the regulator decides what they’re going to do. 

If NFT is a piece of art and it’s not going to pay anybody anything. It’s just something you’re collecting. I feel much more comfortable with that if it’s a digital authentication certificate. I’m very comfortable with that there’s many different iterations, but I agree with you. I think the NFT market in the long run will be bigger than cryptocurrencies because it will authenticate physical assets which is a massive multi-trillion dollar market, whether it be real estate or jewelry or watches or cars or whatever or con insurance contract. The blockchain is too valuable for a transparent way of keeping track of what occurs. H-bar is really being contemplated by Boeing and supply chain management why won’t you want to own a piece of that. I mean that’s a really interesting idea to keep a ledger of what’s going on in the supply chain. So, there’s all of these ideas that involve tokens NFTS and digitization but we’re not even in the first inning yet. We do need regulation to bring the spigot of institutional capital into the game which isn’t here yet. So that kind of matters and I think you got to keep your eye on all this stuff as it moves forward. Not knowing what’s going to work. There are a lot of investors kind of, maybe, older school traditional capital markets investors who, when they hear about crypto, they get excited about things like tokenizing real estate or attaching NFT to a piece of art. If you know attaching digital utility to physical things or is it all about digitally native things are bored APEs. 

The most exciting thing about NFTS is it all about attaching NFTS to physical artwork. Does that make sense? I think you have all the use cases. I don’t find board APEs – is a good investment because you can have unlimited board APEs. But if you’re fractionalizing alien stein which is happening right now as we speak on start engine it’s controversial in the art world but it’s very successful. Nobody can afford a full Liechtenstein, but if you can get a fraction of it and appreciate some value 12 a year, you’ll get your fractional increase. That’s what’s going on and I have to disclose, I’m a shareholder in a start engine and a paid spokesperson. I remember when Howard Marks, the founder, called me and said – we’re going to fractionalize Andy Warhol and then we’re going to do a leisure sign and said: “Wow! That’s just that’s different!”. I wonder how their art world is going to take that one on and it got a lot of press, I’ll tell you that. But it was very successful, so I think new ideas of digitization using NFTs and fractionalized ownership. I mean the market decides. It doesn’t matter what any of us think – it’s the market decides. I may agree – I may not agree, but the market decides. That’s what matters. 

This article is a transcription of a video made by Jamie TreeOriginal video: https://youtu.be/Ka8kPI9BTe0