Shark Tank star Kevin O’Leary aka Mr. Wonderful has first revealed he’s more exposed to crypto than gold. He hopes to increase his crypto allocation to 7% in the next few months, emphasizing: “I don’t see a situation where crypto’s ever going away.”
Kevin O’Leary Now Has More Crypto Than Gold
Kevin O’Leary has revealed that his wallet is now more exposed to cryptocurrency than gold for the first time. He tweeted on Saturday:
For the first time ever, my crypto exposure is greater than gold.
Her comment followed her interview with Daniela Cambone of Stansberry Research, published Friday. Emphasizing, he is “a believer” and an investor in crypto, Mr. Wonderful shared: “At the end of the year, I’m hoping to be at 7% of our operating company’s portfolio in cryptocurrencies.” Additionally, he said,“ I invest in a wide range of different crypto products as a strategy. ”
The Shark Tank star noted:
I am happy to listen to anybody but, I’m sorry, I don’t agree if the answer is you have zero exposure to crypto.
The idea that governments are making Bitcoin illegal is “far-fetched”
O’Leary also shared his take on whether governments could ban cryptocurrencies. Citing the comments by Bridgewater Associates founder Ray Dalio stating that governments can kill bitcoin if it becomes too successful, he was asked, “can bitcoin be stopped … will governments win?”
Mr. Wonderful replied, “This is a great debate. However, the productivity improvements available through cryptocurrencies and the whole decentralized finance infrastructure (challenge) are too attractive even for governments. I don’t think the U.S. government wants to fall behind in the development of new payment systems and services online that are being brought forward by the development in all kinds of centralized and decentralized finance systems.” He elaborated:
So I don’t see a situation where crypto ever goes away…The idea that governments all around the world are going to synchronize and make bitcoin illegal, I think, is far-fetched.
“Crypto no longer only bets on the price of bitcoin. There are so many other ways to invest, especially in the opportunities of blockchain, Solana, Ethereum … so many different levels and then of course level two is the derivatives that are put on Ethereum and Solana and all the others… NFT [non-fungible tokens] are [also] will grow very quickly, ”he added.
Bitcoin vs. Gold
Regarding his gold investment, he said: “I have 5% in gold … I’m going to keep my gold. I see no reason to sell it.”
O’Leary was asked if he agreed with Virgin Galactic Chairman Chamath Palihapitiya, who recently said bitcoin “has officially replaced gold.”
He replied: “No. Nothing’s going to replace gold. Gold has been tried and proven for 2,000 years. The Romans were hoarding it. I think what’s happening is 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 that space.
