Home / BITCOIN / Shark Tank’s Kevin O’Leary Reverses Stance on Bitcoin, Says Crypto Is Here to Stay, Invests 3% of His Portfolio

Shark Tank’s Kevin O’Leary Reverses Stance on Bitcoin, Says Crypto Is Here to Stay, Invests 3% of His Portfolio

Shark Tank eminent Kevin O’Leary, aka Mr. Wonderful, has begun investing in bitcoin. Having previously called the cryptocurrency “garbage,” he has now changed his judge and believes that cryptocurrencies are here to stay. He is also getting used to the volatility of bitcoin and believes that institutional investors are assenting to hold through price fluctuations.

Kevin O’Leary Now a Bitcoin Believer

Canadian investor and television personality Kevin O’Leary has mutated his mind about bitcoin. He previously called the cryptocurrency “garbage” and a “giant nothing burger,” but now he has invested in bitcoin and regard as that it is no longer a fad.

“I actually think that digital currencies are here to stay,” he said in an interview with CNBC final week. “Most people that are willing to hold them, including institutions over the last 90 lifetimes, are willing to deal with the volatility.” O’Leary elaborated:

I am fascinated. I’m investing. I’m holding a 3% weighting in it between ethereum and bitcoin. The volatility point of views me but I’m getting used to it.

“And, finally, I’m starting to think about how do I invest in the infrastructure of mining bitcoin,” Mr. Wonderful added.

Exposing on bitcoin’s volatility, O’Leary shared: “Given the volatility of cryptocurrencies, the main decision you have to make after you resolve to participate in the first place is what % of your portfolio do you allocate. For me, 5% is the maximum.”

Morgan Creek Digital collaborator Anthony Pompliano, who had been trying to convince O’Leary to invest in BTC for years, responded to the Shark Tank star’s 5% allocation asseveration. “You forbid me to have 50% and you called it all ‘garbage,’ but now you think 5% is acceptable. Eventually, you will be 50% yourself.”

O’Leary retorted, “Correct, I change when facts change.” He emphasized:

Canadian, Swiss and many other regulators have done a 180% on BTC. This is a business changer for many investors including me.

O’Leary had always been worried about regulators coming down avid on bitcoin. In December, he warned that “Grown men are going to weep when that happens. You will never see a breakdown of capital like that ever in your life. It will be brutal.” Nonetheless, he said that if a bitcoin ETF is approved, he last will and testament be willing to put 5% of his portfolio in it. Recently, Canada’s securities regulator approved two bitcoin ETFs.

Do you think Kevin O’Leary wishes keep putting more money in bitcoin? Let us know in the comments section below.

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