Octopuses are highly intelligent animals. They are somewhat solitary, therefore, more suitable for captivity than most other pets.
That being said, octopuses would not be suitable for most people as pets. They are master escape artists and require a higher degree of attention / intelligent stimulation because of their high degree of intelligence.
In the following clip, a professor explains how and why he brought home an octopus for a pet. He also shows us how he and his daughter have bonded with their pet octopus.
You can watch this clip below.
I can say that I am neither for or against having octopuses or any other animal as a pet. However, truthfully, nothing can be better than their natural environment.
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