The crypto markets are doing their best to recover following recent price corrections. At the moment of writing this article, the most important coins are trading in the green and the crypto space is filled with optimistic predictions about the prices of the digital assets.
Shark Tank investor Kevin O’Leary said just recently that he sees cryptos as a viable investment class despite the recent selloffs that have shaken the markets.
BTC and ETH compared to tech companies
In a new interview with Yahoo Finance Live, O’Leary compares Bitcoin (BTC) and Ethereum (ETH) investing to the early days of some of the world’s leading tech companies – just in case you don’t know, these have experienced violent price movements before becoming industry leaders.
When he was asked what he thinks the biggest opportunity for investors is in 2022, the Shark Tank star said the following:
“The one that I really found interesting over the last 24 months has been crypto and blockchain technologies and tokens and NFTs [non-fungible tokens]. You have to make a binary decision about this stuff, and this is very difficult for many institutions… and many of them have not even started their journey into cryptocurrencies…”
He continued and explained this:
“This is how I wrap my head around it and I think it would help investors to think this way. If you invest in Microsoft and Google and Amazon and so many of these other platforms, what is the core you’re investing in? Google is software. Bitcoin is not a coin. It’s actually software. The blockchain is software…”
He also told people that the real decision lays in the willingness to invest in software – he said that if people are willing to invest in an equity such as Google why they would not invest in ETH which is a service that is used at a global scale.