Kevin O’Leary: Ethereum is valuable but ‘it’s always going to be No. 2’ to bitcoin

Ether, the second largest cryptocurrency by market value after bitcoin, hit a record high on Wednesday – but despite its rally, "it's always going to be No. 2" next to bitcoin, investor Kevin O'Leary tells CNBC Make It."I just believe that to be the case. Bitcoin will always be the 'gold.' Ethereum will always be the 'silver." And "that's not a bad thing necessarily," says O'Leary, who is chairman of O'Shares ETFs. (Ethereum is the blockchain that powers cryptocurrency ether.)As O'Leary mentions, bulls view bitcoin as digital gold and a hedge against inflation that will appreciate over time.In March, O'Leary announced that he allocated 3% of his portfolio to bitcoin, though he has owned the cryptocurrency, along with ether and a few other digital coins, since 2017. He made this move after Canada and a few other countries' regulators eased restrictions on institutional buying of the cryptocurrency, he says."Now, bitcoin…

Read the original article here