Shark tank star Kevin O’Leary, aka Mr. Wonderful, has revealed that for the first time he has more crypto exposure than gold. He hopes to raise his crypto allocation to %% in the next few months: “I don’t see a situation where crypto is ever going away.”
Kevin O’Leary now has more crypto than gold
Kevin O’Leary has revealed that his portfolio now has more exposure to cryptocurrencies than gold for the first time. On Saturday, he tweeted:
For the first time, my crypto exposure is higher than gold.
Her comments came after her interview with Stanisbury Research’s Daniela Cambon, published Friday. Emphasizing, he is a “believer” and investor in crypto, Mr. Wonderful shared: “By the end of the year, I expect 7% of our operating company’s portfolio in cryptocurrency.” Moreover, he said, “I am investing in a wide range of different crypto products as a strategy.”
The Shark Tank star mentioned:
I’m glad to hear from someone but I’m sorry, I don’t agree if you have zero exposure to crypto.
Government’s idea of making Bitcoin illegal ‘far’
He also shared his views on whether the Leary government could ban cryptocurrency. Ray Dalio, founder of Bridgewater Associates, commented that if the government could make Bitcoin very successful, he was asked, “Bitcoin can be stopped … will the government win?”
Mr. Wonderful replied: “This is a great debate. However, increasing productivity through cryptocurrency and the complete infrastructure (DFI) of decentralized finance is very attractive even for the government. I don’t think the US government wants to lag behind in the development of new online payment systems and services that are being advanced through the development of all kinds of centralized and decentralized finance systems. He details:
So I don’t see a situation where crypto is ever going away … The idea that governments around the world will synchronize and make bitcoin illegal, I think, is a long way off.
“Crypto is no longer betting on the price of Bitcoin. There are many more ways to invest, especially in blockchain opportunities, Solana, Etherium … many different levels and then, of course, the second level is derivatives that are placed on top of Ethereum and Solana and everything else. … NFT [non-fungible tokens] Is [also] It will grow very fast, ”he added.
Bitcoin vs. Gold
Regarding his gold investment, he said: “I have 5% gold… I am going to keep my gold. I see no reason to sell it. ”
O’Leary was asked if he agrees with Virgin Galactic chairman Chamath Palihapitiya, who recently said Bitcoin “has officially replaced gold.”
He replied: “No. Nothing will happen instead of gold. Gold has been tried and proven for 2,000 years. The Romans were hoarding it. I think what happens is that gold will remain in the portfolio as an asset class, like me and others, as property.” .
Regarding the overall crypto industry, O’Leary concludes:
I just see a lot of investment opportunities, and I’m going to be an investor in that space.
What do you think of Kevin O’Leary’s comments? Let us know in the comments section below.
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