Mr.Wonderful Shares Crypto Investing Strategy — 20% of His Portfolio Now in Crypto

Mr.Wonderful Shares Crypto Investing Strategy — 20% of His Portfolio Now in Crypto

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18/05/2022 by Koinal
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"I have millions of dollars; 20% of my portfolio is now in cryptocurrencies and blockchain." O'Leary said.
Kevin O'Leary Shares

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 “I have millions of dollars; 20% of my portfolio is now in cryptocurrencies and blockchain.” O’Leary said.

Although cryptocurrencies have grown in popularity over the years, regulators remain concerned about speculation. For example, Kevin O’Leary told CNBC that cryptocurrencies and companies working in the emerging digital asset industry account for one-fifth of his investment holdings.

Cryptocurrencies have received much attention and investment in recent years, particularly from huge organizations and high-profile individuals like hedge fund manager Paul Tudor Jones and fund manager Bill Miller. In addition, many people promote bitcoin, the world’s most valuable cryptocurrency in terms of market capitalization, as a long-term store of value.

“You have to be diversified. I own 32 different positions, including equity FTX itself.” O’Leary said, regardless of the fact that he is a paid representative for the crypto exchange, founded by 30-year-old billionaire Sam Bankman-Fried.

“The whole point is that you don’t know who will win. Is Ethereum going to win? Is Solana going to win? Is it Helium, or is it Avalanche? I own them all, ” said O’Leary, a co-host of “Shark Tank” and making other venture capital investments.

O’Leary’s remarks came two days after President Joe Biden signed an executive order to investigate the cryptocurrency industry for the US government. Mr.Wonderful stated that he invested in at least one private bitcoin mining facility. However, he said that he sold his holdings in publicly listed bitcoin mining enterprises following Biden’s executive order.

He also stated that he considers Bitcoin, Solana, and other cryptocurrencies to be software rather than tokens. 

“Bitcoin is not a coin; it’s software,” O’Leary told Insider. And the same goes for other tokens like Ethereum, Helium, and Solana. 

Mr.Wonderful expects to look for a location among other companies aligned with his vision when the time comes.

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