Shark Tank star Kevin O’Leary, also known as Wonderful, shared his cryptocurrency investment strategy. He revealed that 20% of his portfolio is currently in cryptocurrencies and blockchain. “The point is that you don’t know who will win.”
Kevin O’Leary’s Cryptocurrency Investment Strategy
Kevin O’Leary, chairman of O’Shares ETF and star of Shark Tank, shared his crypto investment strategy in an interview with CNBC on Friday.
First, he said that one-fifth of his investment holdings are tied to companies operating in cryptocurrencies or crypto spaces. Wonderful said:
I have millions of dollars, 20% of my portfolio is currently in cryptocurrencies and blockchain.
Last November, he said cryptocurrencies make up 10% of his portfolio. His investment in cryptocurrencies surpassed his gold investment for the first time in October last year.
O’Leary was asked if some cryptocurrencies exist within 10 years. Noting that he factored that risk into his strategy, Shark Tank stars emphasized:
You need to diversify. I own 32 different positions, including the Equity FTX itself.
O’Leary became a paid ambassador and spokesperson for FTX, a cryptocurrency exchange founded by 30-year-old billionaire Sam Bankman-Fried in August last year.
Shark Tank Star elaborated:
The point is that you don’t know who will win. Will Ethereum win? Will Solana win? Is it helium or avalanche? I own them all.
Regarding the presidential directive on cryptocurrency regulation signed by President Joe Biden on Wednesday, Wonderful said: “That’s good news because it wasn’t a total ban.”
Many in the crypto industry welcome Biden’s presidential directive. Some say it provides legitimacy to cryptography, while others are happy that it does not include the extremely restrictive measures they expected.
However, O’Leary expressed concern about how Biden’s directives included an emphasis on cryptocurrency-related climate risks and said he had sold his position at a listed Bitcoin mining company after Biden’s presidential order. I did.
Last week, celebrity investors revealed that they had a meeting with a group of US Senators on cryptocurrency regulations, especially how they apply to institutional investors. He has long said that institutional investors “dramatically raise” the price of Bitcoin, and he can invest in cryptocurrencies. He expects it to take a couple of years.
What do you think of Kevin O’Leary’s comments? Let us know in the comments section below.
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