Shark Tank star Kevin O’Leary, aka Mr. Wonderful, for his exposure to cryptocurrency more than gold for the first time. He hopes to increase his allocation to cryptocurrency to 7% in the next few months, emphasizing, “I don’t see a situation where cryptocurrency disappears at all.”
Kevin O’Leary now has more crypto than gold
Kevin O’Leary revealed that his portfolio now has more exposure to cryptocurrencies than gold for the first time. Saturday tweeted:
For the first time ever, cryptocurrencies are offering more than gold.
His comment came after his interview with Daniela Cambon of Stansberry Research, which was published on Friday. Wonderful confirmed that he is a “believer” and an investor in crypto: “At the end of the year, I hope to have 7% of the company’s portfolio working in the crypto space.” Furthermore, he said, “I am investing in a wide range of different crypto products as a strategy.”
The Shark Tank star noted:
I’m happy to hear from anyone, but, I’m sorry, I don’t agree if the answer is to not be exposed to cryptocurrency.
The idea of governments making Bitcoin illegal is ‘far-fetched’
O’Leary also shared his view on whether governments can ban cryptocurrencies. Quoting comments from Bridgewater Associates founder Ray Dalio, which states that governments can kill bitcoin if it becomes too successful, he was asked, “Can bitcoin be stopped…will governments win?”
Mr. Wonderfull replied: “It is a great discussion. However, the productivity improvements available through cryptocurrencies and the entire (challenge) decentralized finance infrastructure are very interesting even for governments. I don’t think the US government wants to be late in developing new payment systems and services. Online that is offered through development in all types of centralized and decentralized finance systems.” He explained:
So I don’t see a situation where the encryption disappears… The idea that governments around the world are going to sync and make bitcoin illegal is, I think, a far-fetched one.
“Crypto is not betting on the price of bitcoin anymore. There are many other ways to invest, particularly in blockchain opportunities, Solana and Ethereum… many different levels and then, of course, the second level is derivatives that are placed on top of Ethereum and Solana. And all the others… NFTs [non-fungible tokens] be [also] It will grow very quickly.”
Bitcoin vs gold
Regarding his investment in gold, he said, “I have 5% in gold… I will keep my gold. I see no reason to sell it.”
O’Leary was asked if he agreed with Virgin Galactic chief Chamath Palihapitiya, who recently said that bitcoin has “officially replaced gold.”
he said no. Nothing will replace gold. Gold has been tried and proven for 2,000 years. The Romans kept it. I think what happens is that gold will remain an asset class in portfolios, like mine and others, as property.”
Regarding the overall crypto industry, O’Leary concluded:
I just see a lot of investment opportunities, and I’m going to be an investor in this area.
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