Ethereum will always be silver to Bitcoin which is gold, says Kevin O’Leary

Canadian businessman, politician and the special guest on one of the episodes of popular American show Shark Tank, Kevin O’Leary believes that Ethereum will always be second to Bitcoin. In his own words, if Bitcoin is gold then Ether will always remain a silver in front of it.

Ethereum has seen a 26% weekly rise in its prices. It is currently being traded at $ 2783 with a market cap of over 320 billion dollars. It has risen enormously in the last month and is giving a stiff competition to Bitcoin in the mentioned period.

Bitcoin reached its all time high of $ 64,000 in the same period. Although the current price of BTC is hovering around $ 55,00 with a total market cap of 1015 billion dollars.

“Bitcoin will always be the gold, Ethereum will always be the silver,”  the Shark Tank star told CNBC.

O’Leary believes that Ethereum can be used as a mode of ” tracking and payment system “. However, it is too expensive at the moment for such purpose in his opinion.

He gave all the credit of Ethereum hitting its all time high to Bitcoin saying the institutional investors moving in on Bitcoin is what driving the other crypto assets, much like Ethereum itself to reach this point.

Kevin O’Leary used to be highly critical of cryptocurrency all the time before 2017. In his own terminology before that period, cryptocurrency was digital crap, bitcoin was not a real currency while the coins earned from crypto mining were blood mining because of its unethicalness.

Although post 2017, his opinion in cryptocurrency has changed. He started owning cryptocurrencies dedicating 3% of his portfolio to Bitcoin alone. It was the same period in which he campaigned to be the leader of the Conservative Party of Canada but he decided to opt out of the campaign one month prior to the election citing a lack of support.

Some weeks ago, another American businessman and billionaire, Mark Cuban had presented a completely different idea to what O’Leary has said regarding Bitcoin and Ethereum comparison. He had said that Ethereum, not Bitcoin is closest to a true currency

4 thoughts on “Ethereum will always be silver to Bitcoin which is gold, says Kevin O’Leary

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