May 21, 2022

Here’s How Much of Multi-Millionaire Kevin O’Leary’s Portfolio remains in Crypto

2 min read

Kevin O’Leary stated he has allocated millions of dollars in crypto. The former critic of Bitcoin now stated investing in it is like buying huge corporations such as Google and Microsoft.

20% of His Portfolio in Crypto

Back in 2019, the Canadian businessman and television personality was among the most significant critics of the crypto industry. At the time, he explained bitcoin as “worthless,” “ineffective currency,” and even “trash because you can’t get in and out of it in large amounts.”

He began softening his stance at the beginning of 2021, saying he’s not versus BTC and that he even appreciates the property. Quickly after, he got in the community by designating 3% of his portfolio to it.

In a current interview for CNBC, Mr. Wonderful exposed his direct exposure to digital properties equals 20% of his overall wealth:

“I have millions of dollars in crypto. 20% of my portfolio remains in cryptocurrencies and blockchain.”

Speaking of the main cryptocurrency, he argued that purchasing it resembles purchasing shares of leading tech business like Microsoft, Google, and lots of others. Apart from Bitcoin (BTC), he admitted holding Ethereum (ETH), Solana (SOL), and Avalanche (AVAX):

“You need to be diversified. I own 32 different positions, including equity and FTX itself: I’m backing their efforts. You do not know who’s going to win: is Ethereum going to win, is Solana, is Avalanche? I own them all.”

Consequently, the Canadian said he sees potential in non-fungible tokens, too. Previously this year, O’Leary pictured that NFTs could emerge as a “much larger, more fluid market” than bitcoin.

“You’re visiting a lot of movement in terms of doing authentication and insurance coverage and realty transfer taxes all online over the next few years, making NFTs a much larger, more fluid market possibly than just bitcoin alone,” he mentioned back then.

Kevin O'Leary

Kevin O’Leary, Source: CNBC Dogecoin Is The One He Doesn’t Like O’Leary might be keen on various digital properties, however Dogecoin is certainly not among those. Last summertime, he said investing in the memecoin is the exact same as wagering your money on red or black in a casino. He went further, arguing that DOGE has no fundamental worth and should be classified as pure speculation:

“When you speculate on something like Dogecoin– that’s no various than going to Las Vegas and putting your money on red or black– it’s a pure speculation.”