O’Leary claims that he was never a skeptic of cryptocurrencies in the first place, but was instead pressured by his compliance department to “stay away” from them.
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In a live on the subreddit r / CryptoCurrency on Thursday, the Shark Tank celebrity, Kevin O’Leary, discussed how cryptocurrencies now make up 10% of his investment portfolio:
“At the beginning of the year, I had an allocation of 3%; the goal was to reach 7% by the end of the year. However, due to the revaluation of many of the assets that I have now, today we are almost at 10%. who think that the game is over, and that Ethereum is, but I do not agree. There are many other alternatives, be it Solana or anything else. If you are an investor like me, you want diversification. That is the key. “
O’Leary was previously known as a cryptocurrency skeptic, calling Bitcoin (BTC) “junk” in an interview with CNBC two years earlier. Explaining his change of mind regarding cryptocurrencies, Kevin made the following comment:
“I’ve never been able to live with it, I was on CNBC, and I called him [Bitcoin] trash. And so, let me explain my position at the time. I actually bought my first Bitcoin in 2017. At the time, the regulator was not endorsing cryptocurrencies or tokens or monetization in any way through digital vehicles. Particularly at that time, a token was being contemplated to list a hotel in New York through tokenization. Now, I am involved in many companies that are in financial services, I am an investor in them, I use their services, and all of them are complying with the regulator. And so my own compliance departments put extreme pressure on me to put cryptocurrencies aside because they were so worried that we would end up being criticized. “
Since then, O’leary has publicly supported cryptocurrencies, becoming a spokesperson for crypto exchange FTX in August, and praising Ethereum (ETH) as an asset that will soon be deflationary. Last month, “Mister Wonderful” cryptocurrency allotment surpassed his gold holdings.
– Kevin O’Leary aka Mr. Wonderful (@kevinolearytv) October 2, 2021
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