Shark Tank star Kevin O’Leary, aka Mr. The wonderful has some tips on how you can get in to bitcoin or any other cryptocurrency. “It’s a wonderful universe. It’s a fantastic asset. It’s a must-own if you’re an investor,” O’Leary said. His crypto exposure now stands at about 10%, he said.
Kevin O’Leary Has Some Advice for New Crypto Investors
Shark Tank star Kevin O’Leary, chairman of O’Shares ETFs, gave some advice for new investors wanting to get into bitcoin or the crypto space for the first time during an interview with Bitcoin Magazine, published early this month.
O’Leary was asked, “Do you have any advice for people curious about bitcoin or just getting into the space?” He replied:
They should explore the asset. The best way is to begin small and learn about the various platforms. Is it going to be bought through a central wallet? Do you plan to decentralize your money? You can try all of the possibilities, and you will learn through experience.
He added: “The thing about bitcoin is you need to learn how to work with it … There’s many different ways to approach it. There’s many different ways to own it.”
The Shark Tank star then shared that “his 25-year-old son is completely adept now at all of the ways to own bitcoin — all the ways to trade it, all the ways to own it, all the ways to stake it. This is his next generation. It was all he did. He’s never been in a bank branch. He never goes into a bank, doesn’t know why he would.”
O’Leary continued: “Gen Z and millennials, and now baby boomers, are all learning. These people make mistakes. People have made mistakes, I’m sure. And they don’t make that mistake again. They create awareness of how to do it.”
It’s a wonderful universe. It’s a fantastic asset. It’s a must-own if you’re an investor, and then it’s about how you do it. But it’s all about education.
O’Leary noted that the good news is there is a “community that provides a tremendous resource online. You can spend just three or four hours and you will become … quite knowledgeable on what Bitcoin is, how it works, and how to own it.”
Reddit Talk participant, He explained that his crypto holdings comprise a range of cryptocurrency as well companies and products within the space. For example, firms developing decentralized wallets. “So, we’re going to end up at the end of the year with a very significant holding in crypto assets, and it’s not just bitcoin,” he shared.
Shark Tank’s star didn’t reveal all of his crypto assets, but he did confirm that he has bitcoin, USD and ether. He admitted that he owns “a lot of ethereum.” He bought his first coin in 2017.
Mr. Wonderful revealed:
I’ve grown the portfolio remarkably. In the first year of this, the portfolio had a 3% weight. To achieve 7% at the year’s end, that was our goal. However, because of the appreciation of so many of the assets I have now, we’re almost at 10% today.
He stated that crypto was his first exposure to more than gold in October. In September, he said he expects a “trillion dollars” to flow into BTC.
Bitcoin.com News featured Mark Cuban’s Shark Tank character, who is also the owner and head of the NBA Dallas Mavericks. He gave his advice to crypto investors last month.
What do you think about Kevin O’Leary’s advice on how to get into bitcoin and crypto? Leave your comments below.
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