According to Kevin O’Leary, Ethereum will never overtake Bitcoin and will remain in second place.
Despite Ethereum’s price hike, Canadian TV personality and well-known investor Kevin O’Leary predicted that ETH “will always be N.2” for Bitcoin. O’Leary also said that BTC will serve as gold, while ETH will be silver.
Ethereum vs. Rally O’Leary forecast
The second largest cryptocurrency has blossomed recently. Its price reached an ATH today and traded at around $ 2,800.
Regarding bitcoin, ETH significantly increased its market capitalization, reaching 15.3%. On the contrary, the dominance of BTC decreased to 48.3%.
However, Kevin O’Leary opined that Bitcoin will always be number 1 and Ethereum will follow in the second position. O’Leary told CNBC that investors will continue to look at primary cryptocurrency as digital gold and as an alternative against inflation:
“I simply believe that to be the case. Bitcoin will always be “gold”. Ethereum will be “silver”. There is something about being the first that really keeps you ahead in a horse race like this. “
ETH is known for its complex smart contract features, making it unique compared to BTC. Its supporters believe that blockchain is capable of more and will escalate to new peaks in the future. For O’Leary, this is not the case, as he predicted that the cryptocurrency “will be used only as a form of tracking and payment system”.
Kevin O’Leary joined the BTC Club
Kevin O’Leary had a love-hate relationship with cryptocurrencies and, more specifically, with Bitcoin. In 2019, he had a predominantly negative opinion. In addition, he used strong words like “useless” and “rubbish” to describe it.
However, in early March 2021, O’Leary changed his mind and allocated 3% of his portfolio to assets.
In addition, the Canadian businessman raised the issue of Bitcoin’s clean mining. In early April 2021, he called the cryptocurrency mined in China a “blood coin”. O’Leary said he would only buy BTC extracted with clean energy and urged other investors to follow his example.