Renowned investor Kevin O’Leary expressed his belief on Wednesday that owning only Bitcoin BTC/USD and Ethereum ETH/USD can capture the majority of the cryptocurrency market’s volatility and yield.
Don’t Chase ‘Irrelevant Tokens,’ Says O’Leary
O’Leary took to X, sharing a clip from his recent interview with Al Arabiya English, in which he said that instead of chasing the hordes of “irrelevant” tokens in the market, one should focus on Bitcoin and Ethereum to “capture the promise” of cryptocurrency.
“You could own Bitcoin and Ethereum, and you would capture more than 90% of the alpha or price volatility of the entire crypto market,” O’Leary, also known as “Mr Wonderful,” stated.
Focus On Bitcoin, Ethereum
He further noted that as Wall Street moves on-chain, through the adoption of tokenized securities, digital payment systems, and stablecoins, the best way to gain exposure to these developments is by owning ETH, something he described as the “number one blockchain product.”
“One is basically digital gold, if you want to call that Bitcoin, and the other is Wall Street going on chain, which is Ethereum,” O’Leary said.
Mr. Wonderful’s Crypto Infrastructure Play
O’Leary has been one of the most vocal advocates of cryptocurrency. He previously revealed investments in companies such as Circle Internet Group Inc. CRL, cryptocurrency exchange Coinbase Global Inc. COIN and tokenized stock provider Robinhood Markets Inc. HOOD to bet on the infrastructure side of cryptocurrency.
He said last month that the younger generation, specifically the GenZs, are investing in Bitcoin and Ethereum alongside traditional stocks, a chance he did not get early in his investment journey.
Price Action: At the time of writing, BTC was exchanging hands at $117,067, down 0.14% in the last 24 hours, according to data from Benzinga Pro. ETH traded up 0.55% at $4,576 at last check.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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