Kevin O’Leary, also known as “Mr. Wonderful” and a Shark Tank star, recently announced that his cryptocurrency holdings are now larger than his gold assets.
O’Leary, who is also an entrepreneur, shared this new progress in his wealth in an interview hosted by Daniela Cambone from Stansberry Research.
The entrepreneur said that even with his expanded crypto investment, he made it clear that he still advocates holding both crypto and gold. He said that both of these assets are two different classes and there is no point in comparing Bitcoin and gold.
Crypto and gold
“The best way to look at it, if you’re an investor, either you believe in decentralized finance and centralized finance, and you believe in Bitcoin and Ethereum and the blockchain, or you don’t If you don’t, stay in gold as a hedge, and if you do, tip into it,” O’Leary said.
He also said that he would remain holding his gold assets and would not sell them anytime soon. According to O’Leary, he plans to increase his crypto investment from 6% to 7%. His crypto-related investments are spread across blockchain companies and digital assets.
The entrepreneur said that he is a firm believer in cryptocurrencies and that he is comfortable with where his investments are allocated right now.
So much opportunities
O’Leary said that his current crypto enthusiasm is not based on betting on Bitcoin’s price anymore, as it is now based on the clear opportunities presented by blockchain-based products and services.
He also shared his opinion about the possibility that the United States might soon ban Bitcoin and other cryptocurrencies.
He said that this scenario is unlikely because the innovations brought by crypto, both in the area of security and real-time transfer, are too big for the government to reject or ignore.
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