Kevin O’Leary Says Altcoins Not ‘Bouncing Back’ As Investors Realize Bitcoin And Ethereum Are All You Need In Crypto: ‘They Have No Use Case’

Renowned investor and media personality Kevin O’Leary said Monday that altcoins are no longer bouncing back after market corrections, as investor attention is now solely on Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH).

O’Leary Says Altcoins Have No Use Cases

O’Leary said in an X post that investors have realized owning only the two coins is enough to capture 97.5% of all the cryptocurrency market’s “alpha.”

“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, also known as “Mr Wonderful,” argued.

He added that, unlike previous corrections, altcoins in the current market haven’t bounced back as expected.