Shark Tank star Kevin O’Leary, aka Mr. Wonderful, on his cryptocurrency investment strategy. He revealed that 20% of his portfolio is now in cryptocurrency and blockchain. “The bottom line is that you don’t know who will win.”
Kevin O’Leary’s Cryptocurrency Investment Strategy
O’Shares ETFs head and Shark Tank star Kevin O’Leary shared his crypto investment strategy in an interview with CNBC Friday.
First, he said that one-fifth of his investment holdings are linked to cryptocurrencies or companies working in the crypto space. Mr Wonderful said:
I have millions of dollars, 20% of my business is now in cryptocurrency and blockchain.
In November last year, he said that cryptocurrency is responsible 10% of his wallet. His investments in cryptocurrency exceeded His investments in gold for the first time in October last year.
O’Leary was asked if some cryptocurrency would be around in a decade. Noting that he took this risk into account in his strategy, the Shark Tank star emphasized:
You must be diverse. I own 32 different positions, including FTX itself.
O’Leary became a paid ambassador and official speaker For FTX, the cryptocurrency exchange founded by 30-year-old billionaire Sam Bankman-Fried, in August last year.
Star Shark Tank explained:
The bottom line is that you never know who will win. Will Ethereum win? Will Solana win? Is it helium or is it an avalanche? I own them all.
Commenting on executive order Regarding the cryptocurrency regulation that President Joe Biden signed on Wednesday, Mr. Wonderfall said, “It wasn’t a blanket ban, so that’s good news.”
Many people in the crypto industry welcome Biden’s executive order. Some say it provides legitimization to the encryption while others are happy that it doesn’t contain the very restrictive measures they were expecting.
However, O’Leary expressed concerns about the way in which Biden’s directive includes a focus on climate risks associated with cryptocurrency. He said he sold his positions in publicly traded bitcoin mining companies following Biden’s executive order.
The famous investor revealed last week that he had Meeting With a host of US senators regarding cryptocurrency regulations, particularly how they apply to institutional investors. He’s been saying for some time that the price of Bitcoin willGreatly appreciate“When the institutions able to invest in cryptocurrency. It is expected that it will take two to three years.
What do you think of Kevin O’Leary’s comments? Let us know in the comments section below.
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