Shark Tank star Kevin O’Leary, aka Mr. He shared his strategy for investing in cryptocurrency. He shared that 20% of his current portfolio was invested in cryptocurrency and blockchain. “The whole point is you don’t know who is going to win.”
Kevin O’Leary’s Cryptocurrency Investment Strategy
O’Shares ETFs chairman and Shark Tank star Kevin O’Leary has shared his crypto investment strategy in an interview with CNBC Friday.
He stated that one-fifth his investments are held in cryptos or in companies in the space. Mr. Wonderful words:
I am worth millions, and 20% of my assets are in crypto-currencies.
He stated that cryptocurrency accounted for 10% in his portfolio last November. For the first time, his investments in crypto exceeded his gold investments.
O’Leary was asked whether some cryptocurrencies will be around in a decade. Shark Tank Star O’Leary explained that his strategy included that risk.
Diversification is key. There are 32 positions I have, which includes equity FTX.
O’Leary became a paid ambassador and spokesperson for FTX, the crypto exchange founded by 30-year-old billionaire Sam Bankman-Fried, in August last year.
Shark Tank’s star was created:
The whole point is you don’t know who is going to win. What is the likelihood of Ethereum winning? Are Solana and Ethereum going to win? It’s Helium or Avalanche. They all belong to me.
M. Wonderful commented on Wednesday’s President Joe Biden’s executive order on cryptocurrency regulation. Wonderful said: “It wasn’t an all-out ban, so that’s good news.”
Many people in the crypto industry welcome Biden’s executive order. While some say that the executive order gives legitimacy to crypto, others feel it doesn’t contain any restrictive measures.
However, O’Leary expressed concerns about the way Biden’s directive includes an emphasis on climate risks associated with cryptocurrency. He said he sold his positions in publicly traded bitcoin mining firms after Biden’s executive order.
The celebrity investor disclosed that last week he attended a meeting of U.S. senators about cryptocurrency regulations. This included how these apply to institutional investors. He has been saying for quite some time that the price of bitcoin will “appreciate dramatically” when institutions are able to invest in cryptocurrency. It would likely take between two and three years, he said.
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