The first cryptocurrency can be very successful, but it can also fail, so it is risky to bet on it alone. This view was expressed by veteran bitcoin industry and billionaire Brock Pierce in an interview with Fox Business.

#ICYMI you can watch my full interview now @LizClaman over #Clamancountdown through @FoxBusiness here:https://t.co/cypoOgmmNs#futurist #foxbusiness #bitcoins #EOS https://t.co/10bA3k9Sf6 pic.twitter.com/xi3nAdvzR5

— Brock Pierce (@brockpierce) May 6, 2022

“Bitcoin could drop to zero. Here is the binary result. It will either be $1 million per BTC or zero. You should not invest everything in either the first or the second, that is, the first cryptocurrency,” he said.

Pierce believes the current “cryptocurrency landscape” is very similar to the history of the tech stocks bubble at the end of the 20th century.

“The situation is very similar to 1999. The market is currently at the same stage. What happened then? After the dot-com bubble, eBay, Amazon, and other interesting companies emerged, but many businesses went bankrupt. However, this does not mean that digital assets are unrealistic and will not play a significant role in our collective future,” he said.

Pierce admitted that he diversified his portfolio primarily through Ethereum. He also placed a nine-nine bet on EOS and converted all Block.one shares into cryptocurrency.

“Among other things, I am very interested in what is happening in the market for non-tradable tokens. I participated in the acquisition and launch of NFT.com,” the businessman added.

Recall that in 2020 Pierce tried to run for the Presidency of the United States as an independent candidate. At one of the campaign rallies, documents were presented in the case of securities fraud.

In June 2021, the billionaire claimed to lead an “official delegation of bitcoin ambassadors” to El Salvador, where he was criticized by the community.