Shark Tank star Kevin O’Leary (Kevin O’Leary), also known as Mr. Wonder, has started investing in Bitcoin. He previously called cryptocurrency “junk”, but now he has changed his mind and believes that cryptocurrency will continue to exist. He is also used to the volatility of Bitcoin and believes that institutional investors are willing to tolerate price fluctuations.
Kevin O’Leary is now a believer in Bitcoin
Canadian investor and TV personality Kevin O’Leary has changed his mind about Bitcoin. He used to call cryptocurrency “junk” and “inaction burger”, but now he has invested in Bitcoin and believes it is no longer a fashion.
In an interview with CNBC last week, he said: “I actually think digital currencies will continue to exist.” “Most people who are willing to hold these stocks, including institutions in the past 90 days, are willing to deal with this turmoil.” O’ Leary elaborated:
I am fascinated. I am investing. I hold a 3% weight between Ethereum and Bitcoin. The volatility makes me feel sick, but I am used to it.
Mr. Wonderful added: “Finally, I started to think about how to invest in the infrastructure for mining Bitcoin.”
Commenting on the volatility of Bitcoin, O’Leary said: “Given the volatility of cryptocurrencies, the main decision you have to make after deciding to participate in the first place is to allocate the percentage of your portfolio. For me, the maximum is 5 %.”
Anthony Pompliano, a partner at Morgan Creek Digital, who has been trying to persuade O’Leary to invest in BTC for years, responded to the Shark Tank star’s 5% distribution statement. “You forbid me to own 50% of the goods and call them “junk”, but now you think 5% is acceptable. In the end, you will become 50% of yourself.”
O’Leary replied: “Correct, I will change when the facts change.” He emphasized:
Canada, Switzerland and many other regulatory agencies have processed 180% of BTC. For many investors, including me, this is a way to change the rules of the game.
O’Leary has always worried that regulators will severely devalue Bitcoin. In December, he warned: “Adult men will cry. You will never see such a capital loss. It will be cruel.” Nevertheless, he said that if the Bitcoin ETF is approved, he will be willing to 5% of its investment portfolio is invested in it. Recently, Canadian securities regulators approved two Bitcoin ETFs.
Do you think Kevin O’Leary will continue to invest more money in Bitcoin? Let us know in the comments section below.
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