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Kevin O'Leary Declares Bitcoin And Ethereum The Only Cryptos Worth Owning As Altcoins Fail To Recover

MarketDash Editorial Team
6 days ago
Shark Tank's Kevin O'Leary says altcoins are struggling to bounce back from recent market corrections because they lack real use cases. The investor argues that Bitcoin and Ethereum alone capture 97.5% of crypto's upside, making other tokens irrelevant despite some signs of shifting market dynamics.

Mr. Wonderful Has Spoken: Altcoins Are Out

Celebrity investor Kevin O'Leary, better known as "Mr. Wonderful" from Shark Tank, dropped some harsh words for altcoin enthusiasts on Monday. He says the days of smaller cryptocurrencies bouncing back after market dips are over, and investors have finally figured out that Bitcoin (BTC) and Ethereum (ETH) are all they really need.

In a post on X, O'Leary argued that these two dominant coins capture 97.5% of all the cryptocurrency market's "alpha"—basically, the good stuff that makes you money. His reasoning? Everything else is moving down harder and not recovering anymore.

"If you own those two, it doesn't matter what happens anywhere else because everything else is moving with a much higher [volume] to the downside and not recovering anymore because they have no use case," O'Leary explained.

The key difference this time around, according to O'Leary, is that altcoins aren't behaving like they did during previous market corrections. In the past, they'd typically rally back. Now? Not so much.

What The Data Actually Shows

The numbers tell an interesting story. CoinMarketCap's Altcoin Season Index stood at 23 at the time of reporting, which officially puts us in "Bitcoin Season" territory. For context, Altcoin Season only kicks in when 75% of the top 100 coins outperform Bitcoin over a 90-day period. We're clearly not there yet.

But here's where it gets curious: the total market share of altcoins actually rose from 28.2% to 29.5%. Meanwhile, Bitcoin's dominance slipped from 59.2% to 58.9%, and Ethereum's share dropped from 12.6% to 11.5%.

So while O'Leary is writing off altcoins, they're quietly gaining a bit of ground. Make of that what you will.

A Consistent Message From O'Leary

This isn't new territory for O'Leary. Back in September, he made similar comments about how owning Bitcoin and Ethereum captures most of the market's volatility and yield. His advice then, as now, was to stop chasing what he calls "irrelevant tokens."

He's also been tracking changing investment patterns among younger investors. In August, O'Leary noted that Gen Z is buying Bitcoin and Ethereum right alongside traditional stocks—something he never witnessed when he started investing decades ago.

Price Action: At the time of writing, BTC was trading at $86,961.70, up 0.94% over the previous 24 hours. ETH was down 0.50% at $2,804.71.

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Kevin O'Leary Declares Bitcoin And Ethereum The Only Cryptos Worth Owning As Altcoins Fail To Recover

MarketDash Editorial Team
6 days ago
Shark Tank's Kevin O'Leary says altcoins are struggling to bounce back from recent market corrections because they lack real use cases. The investor argues that Bitcoin and Ethereum alone capture 97.5% of crypto's upside, making other tokens irrelevant despite some signs of shifting market dynamics.

Mr. Wonderful Has Spoken: Altcoins Are Out

Celebrity investor Kevin O'Leary, better known as "Mr. Wonderful" from Shark Tank, dropped some harsh words for altcoin enthusiasts on Monday. He says the days of smaller cryptocurrencies bouncing back after market dips are over, and investors have finally figured out that Bitcoin (BTC) and Ethereum (ETH) are all they really need.

In a post on X, O'Leary argued that these two dominant coins capture 97.5% of all the cryptocurrency market's "alpha"—basically, the good stuff that makes you money. His reasoning? Everything else is moving down harder and not recovering anymore.

"If you own those two, it doesn't matter what happens anywhere else because everything else is moving with a much higher [volume] to the downside and not recovering anymore because they have no use case," O'Leary explained.

The key difference this time around, according to O'Leary, is that altcoins aren't behaving like they did during previous market corrections. In the past, they'd typically rally back. Now? Not so much.

What The Data Actually Shows

The numbers tell an interesting story. CoinMarketCap's Altcoin Season Index stood at 23 at the time of reporting, which officially puts us in "Bitcoin Season" territory. For context, Altcoin Season only kicks in when 75% of the top 100 coins outperform Bitcoin over a 90-day period. We're clearly not there yet.

But here's where it gets curious: the total market share of altcoins actually rose from 28.2% to 29.5%. Meanwhile, Bitcoin's dominance slipped from 59.2% to 58.9%, and Ethereum's share dropped from 12.6% to 11.5%.

So while O'Leary is writing off altcoins, they're quietly gaining a bit of ground. Make of that what you will.

A Consistent Message From O'Leary

This isn't new territory for O'Leary. Back in September, he made similar comments about how owning Bitcoin and Ethereum captures most of the market's volatility and yield. His advice then, as now, was to stop chasing what he calls "irrelevant tokens."

He's also been tracking changing investment patterns among younger investors. In August, O'Leary noted that Gen Z is buying Bitcoin and Ethereum right alongside traditional stocks—something he never witnessed when he started investing decades ago.

Price Action: At the time of writing, BTC was trading at $86,961.70, up 0.94% over the previous 24 hours. ETH was down 0.50% at $2,804.71.