‘It’s a Software’: Kevin O’Leary Says Bitcoin Holdings Similar to Yahoo, Microsoft Shares

Bitcoin’s current market cap exceeds $704 billion (roughly Rs. 52,74,836 crore).

‘It’s a Software’: Kevin O’Leary Says Bitcoin Holdings Similar to Yahoo, Microsoft Shares

Photo Credit: Unsplash/ Olieman.eth

Bitcoin is currently trading at $37,156 (roughly Rs. 28 lakh)

Highlights
  • Kevin O’Leary was a Bitcoin opposer before 2021
  • Bitcoin, as per O’Leary, is like shares of software giants
  • Bitcoin hit $1 trillion valuation before Apple, Google
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Kevin O'Leary, a Canadian multi-millionaire investor, is now comparing holding Bitcoin to owning shares of software majors. O'Leary in a recent Twitter post said that holding BTC assets is similar to holding shares of companies like Microsoft and Yahoo. Between 2019 and 2021, the 67-year-old ‘Shark Tank' judge has turned from an avid opposer of Bitcoin to one of its major promotors. As per his predictions, Bitcoin values will touch $300,000 (roughly Rs. 2.25 crore) once the market attains more operational clarity.

“Bitcoin is not just a coin or currency, it's a software,” O'Leary, who also calls himself Mr. Wonderful wrote on Twitter.

O'Leary, who called Bitcoin ‘garbage' in 2019 currently has three percent of his portfolio invested in Bitcoin.

The serial investor and TV personality is, however, not the first person to compare Bitcoin to the shares of major corporations.

Recently, Jurrien Timmer, Fidelity's Director of Global Macro had compared Bitcoin's growth to Apple's coming-to-power in the 90s. Last week, Fidelity International launched its first investment product that tracks Bitcoin in Europe, as the British investment manager taps into rising demand for exposure to digital currencies.

Last year, the founder of SkyBridge Capital, Anthony Scaramucci, reportedly said Bitcoin reminds him of Facebook, Google, and Amazon.

Bitcoin is currently trading at $37,156 (roughly Rs. 28 lakh), as per CoinMarketCap.

Founded in 2009, its market cap exceeds $704 billion (roughly Rs. 52,74,836 crore). Bitcoin took just 12 years to hit the record peak of $1 trillion (roughly Rs. 74,88,050 crore) last year.

In comparison, Microsoft took about 44 years to hit the $1 trillion valuation while Apple, Amazon, and Google took 42 years, 24 years, and 21 years, respectively for the same breakthrough, said a report by CryptoParrot.


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Further reading: Kevin OLeary, BTC, Bitcoin, Microsoft
Radhika Parashar
Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More
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