Kevin O’Leary Shares Cryptocurrency Investment Strategy – 20% of His Portfolio Now in Cryptocurrencies and Blockchain – Bitcoin News

Shark Tank star Kevin O’Leary aka Mr. Wonderful shared his cryptocurrency investment strategy. He revealed that 20% of his portfolio is now in cryptocurrencies and blockchain. “The thing is, you don’t know who’s going to win.”

Kevin O’Leary’s Cryptocurrency Investment Strategy

Chairman of O’Shares ETFs and Shark Tank star Kevin O’Leary shared his cryptocurrency investment strategy in an interview with CNBC on Friday.

Firstly, he said that a fifth of his investments are tied to cryptocurrencies or companies operating in the crypto space. Mr. Wonderful said:

I have millions of dollars, 20% of my portfolio is now in cryptocurrencies and blockchain.

In November last year, he said that cryptocurrencies accounted for 10% of his portfolio. His cryptocurrency investments exceeded his gold investments for the first time in October of last year.

O’Leary was asked if any cryptocurrencies will be around in a decade. Noting that he considered this risk in his strategy, the Shark Tank star emphasized:

You have to be diverse. I own 32 different positions, including the FTX equity itself.

O’Leary became a paid ambassador and spokesperson for FTX, the cryptocurrency exchange founded by 30-year-old billionaire Sam Bankman-Fried, in August of last year.

The Shark Tank star elaborated:

The thing is, you don’t know who’s going to win. Will Ethereum win? Will Solana win? Is it Helium or is it Avalanche? I own them all.

Commenting on the executive order on cryptocurrency regulation signed by President Joe Biden on Wednesday, Wonderful said, “It wasn’t an outright ban, so this is good news.”

Many people in the cryptocurrency industry welcome Biden’s executive order. Some say it provides the cryptocurrency with legitimacy, while others are pleased that it does not contain the extremely restrictive measures they anticipated.

However, O’Leary expressed concern about how Biden’s directive includes an emphasis on climate risks associated with cryptocurrency. He said he sold his positions in publicly traded bitcoin mining companies following Biden’s executive order.

Last week, the celebrity investor revealed that he had a meeting with a group of US senators about cryptocurrency regulations, particularly as they apply to institutional investors. He has been saying for some time that the price of bitcoin will “appreciate dramatically” when institutions are able to invest in cryptocurrency. He expects this to take two to three years.

What do you think of Kevin O’Leary’s comments? Let us know in the comments section below.

Kevin Helms

Austrian economics student Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects, and the intersection of economics and cryptography.

image credits: Shutterstock, Pixabay, Wiki Commons

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