Kevin O'Leary Says 20% of His Portfolio is in Crypto and Blockchain
Appearing in an interview with CNBC’s Squawk Box on Friday, celebrity investor Kevin O’Leary stated that one-fifth of his investment holdings comprise cryptocurrencies and companies tied up in the blockchain industry.
“I have millions of dollars. 20% of my portfolio is now in cryptocurrencies and blockchain.. O’Leary said in his interview.. “So we should support this initiative and be the leader in the policy. Because right now, the world is waiting. We are so far behind in policy for this industry that will lead the world in financial services. We need to get going.”
On being asked by CNBC’s host, Andrew Ross Sorkin, whether some cryptocurrencies will even make it in the next 10 years, the venture capitalist replied that he’s already considered the risk factors by diversifying his holdings into 32 different positions including having equity in FTX crypto exchange.
“The whole point is, you don’t know who is going to win. Is Ethereum going to win? Is solana going to win? Is it Helium or is it Avalanche? I own them all,” O’Leary added.
Has O'Leary Softened Towards Bitcoin?
Back in 2019, the co-host of “Shark Tank” who is also the founder and chairman of O’Shares ETFs was among the biggest critics of the crypto industry. At the time, he called bitcoin a “worthless,” “useless currency,” and a “garbage because you can’t get in and out of it in large amounts.”
However, he started softening his stance last year, saying he’s not completely against the flagship cryptocurrency. Shortly after, he allocated upto 3% of his money towards crypto investments.