Kevin O’Leary Compares Investing in Bitcoin to Large Corporation—Has Millions in Crypto

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Shark Tank star Kevin O’Leary recently announced that he has millions of dollars in cryptocurrency. O’Leary, a former critic of Bitcoin and the crypto industry, now compares investing in cryptocurrency to investing in giant corporations like Google and Microsoft.

In 2019, the Canadian TV star described Bitcoin as “worthless,” “useless currency,” and called it “garbage because you can’t get in and out of it in large amounts.”

That said O’Leary began to soften his stance towards Bitcoin in early 2021 following the market boom, claiming that he was not against BTC adding that he even respects the crypto-asset. Shortly afterward, the businessman announced that he had entered the industry by allocating 3% of his total portfolio to it.

Fast-forward to an interview with CNBC last week, and he revealed that he now has about 20% of his total wealth invested in the crypto and blockchain spaces, noting:

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

Commenting on the benchmark cryptocurrency, O’Leary argued that investing in the asset was the same as buying shares of multinational corporations like Microsoft, Google, and others. Meanwhile, the Shark Tank star noted that he also held Ethereum, Solana, and Avalanche, noting:

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

Shark Kevin OLeary Reveals More Cryptocurrency Investments Than Gold
Kevin O’Leary

Kevin O’Leary Sees a Bright Future for NFTs

The Canadian businessman also mentioned that he sees significant potential in the non-fungible token (NFT) space too. In January, O’Leary predicted that NFTs could become a “much bigger, more fluid market” than BTC. He added then:

“You’re going to see a lot of movement in terms of doing authentication and insurance policies and real estate transfer taxes all online over the next few years, making NFTs a much bigger, more fluid market potentially than just bitcoin alone.”

 

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.