December 7, 2021

Kevin O'Leary comments on his crypto investment

Shark Tank investor and star Kevin O'Leary holds nearly 10% of his capital in cryptocurrencies. He spoke about this during an audio conference on Reddit Talk.

“I have expanded my portfolio significantly.At the beginning of the year, my share [in cryptocurrencies] was 3%. The target was to reach 7% by the end of the year. However, due to the growth in the value of many assets that I now own, we have practically reached 10%, ”he said.

O'Leary says his portfolio includes more than justdigital assets, but also companies associated with the industry. He stressed that by the end of the year he will have "a very significant stake in crypto assets, and it's not just about bitcoin."

The investor refused to disclose his assets, butsaid that he owns digital gold, Ethereum and USD Coin (USDC) stablecoin. Despite his commitment to the second largest cryptocurrency in terms of capitalization, he also believes in the success of its direct competitors.

“Some people think that for Ethereum, the gameis already over, but I disagree with that. There are many alternatives, be it Solana or other [projects]. If you are an investor like me, then you need diversification. This is a key point, ”he said.

O'Leary explained that before choosing digitalAs an asset for investment, it analyzes the software behind it and the benefits that the project can bring. According to him, cryptocurrencies come with a certain risk, so portfolio diversification is extremely important.

“I ask myself if I can single out the bestcommands? Who are the best developers? How can I invest in their projects? What blockchain are they built on? Should I own some of this? This is how I look at investments, ”he added.

Earlier, O'Leary stated that Ethereum "will always be number two" after Bitcoin.

In September, the investor urged the US authorities to develop a regulatory framework for the cryptocurrency market as soon as possible.

</p></p>
Facebook Notice for EU! You need to login to view and post FB Comments!