Benzinga - Gary Vaynerchuk, popularly known as Gary Vee, in 2021, compared Bitcoin (CRYPTO: BTC) with non-fungible token (NFT) projects.
What Happened: In one tweet made on Feb.28, 2021, Vaynerchuk said “Bitcoin has a limit – ‘NFT projects don’t.'”
Bitcoin has a limit – "nft projects don't "Nft as a whole is amazing and many amazing things and projects will happen .. there's just going to be trillions of them .. just like influencers .. many do soooo well, some do well … many don't pic.twitter.com/gRzqYljIVr
— Gary Vaynerchuk (@garyvee) February 28, 2021
Vaynerchuk said that while Bitcoin may have limitations, the NFT sector has endless possibilities. "Nft as a whole is amazing and many amazing things and projects will happen .. there's just going to be trillions of them," he tweeted.
Addressing the broader state of the crypto and NFT markets in 2022, Vaynerchuk admitted, “We’re in an economic correction.” Drawing parallels to the early days of the internet, he referred to how websites like Friendster paved the way for the Reddit and Instagram platforms we know today. He predicted that, in the next 36 months, meaningful projects would emerge.
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Why It Matters: Taking a closer look at the potential gains for early BTC investors, let’s consider an investment of $100 in Bitcoin today and it reaches levels when Vaynerchuk voiced the notion of BTC’s limitation.
At that time, Bitcoin was trading at $43,733. The investment would have grown to $144, representing a 44% increase in value.
Price Action: At the time of writing, BTC was trading at $30,287, up 0.21 % in the last 24 hours, data from Benzinga Pro shows.
Image Credits – Shutterstock
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