Shark Tank star Kevin O’Leary (Kevin O’Leary), also known as Mr. Wonderful, is going to invest 5% of his portfolio in the Bitcoin Exchange Traded Fund (ETF) approved by the US Securities and Exchange Commission (SEC) )in. O’Leary, who has long been skeptical of Bitcoin, is worried about the volatility of Bitcoin and hopes that regulators will be satisfied with it before jumping into it.
Kevin O’Leary wants to invest in Bitcoin ETF
Canadian investor and TV personality Kevin O’Leary discussed his views on Bitcoin in a podcast hosted by Morgan Creek Digital partner Anthony Pompliano last week.
O’Leary has always been a skeptic of Bitcoin. He told CNBC in May last year that Bitcoin is “worthless” and “useless currency,” and told him, “This is rubbish because you can’t get in and out of Bitcoin in large quantities.”
The Shark Tank star stated that although he still has the same concerns, he is not opposed to Bitcoin. He said: “I do own a small amount of Bitcoin.” He bought Bitcoin because a course he taught at Harvard University required him to participate in cryptocurrency.
However, he is worried about the volatility of Bitcoin and the adverse reaction of regulators to it. He warned: “Every time I discuss records with regulators, it is for various reasons. I have been talking to regulators. They are a little reluctant to Bitcoin, but it is not in place.”
O’Leary added: “When I can regulate this product, I can invest millions of dollars and know that I will not get out of it in any way. I have not violated any regulations…it will remain stable,” he confirm:
If this is the case, if we wake up tomorrow morning and the SEC says you can create an ETF with Bitcoin, we think Bitcoin is a legal (you know) payment system and wealth reserve. Not only will Bitcoin rise, but you There will be many people like me investing.
He explained that if this happens, “I will say, I will give it a 5% weight, so you know I really don’t want a large part of my portfolio to have that volatility.” He said He prefers to invest in ETFs, and many of his investments are ETFs.
As an investor who believes in diversification, O’Leary reiterated that he was “a bit” troubled, “In the field of cryptocurrency, you must be very concentrated to get these returns in one cryptocurrency (Bitcoin).”
Do you agree with O’Leary? Let us know in the comments section below.
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