In his latest interview, famed billionaire Kevin O’Leary shared his cryptocurrency purchases and comments on the current bearish market. Shark Tank star and venture capitalist Kevin O’Leary talked about his recent altcoin portfolio allocations. He also weighed the state of the crypto bear market. Here are the details…
O’Leary has added these cryptocurrencies to his portfolio
In a new interview with Crypto Banter, O’Leary revealed that his investment firm is investing in two cryptocurrencies in particular. He said his fund is working on adding more crypto positions to Helium (HNT) and Pollen (PCN), both of which are related to decentralized telecommunications use cases. He stated that they made such a move as their operating procedure. On the other hand, he states that he will not invest more than 5 percent of his operating fund in Bitcoin. That’s why he talks about focusing on other altcoins like Ethereum (ETH) and Solana (SOL). O’Leary uses the following expressions:
We’re just trying to add a position to Pollen and Helium, which are really important projects in telecommunications deployment. But the point is, you don’t know when these asset classes will move.
Billionaire name talked about regulations
O’Leary talked about the Stablecoin Transparency Act, a bill that aims to provide regulatory clarity for stablecoins. He thinks this indicates that the entire industry is on the verge of legitimation. He also believes that new capital will flow into the field with the regulations and the sense of legitimacy that will come with it. He cites that most of the major wealth funds he works with are not cryptocurrencies of any kind. He says the reason behind this is the attitude of compliance departments towards cryptos.
O’Leary states that wealth funds around the world cannot afford to have problems with the US Securities and Exchange Commission (SEC). Because he said the US market is critical to his other investments. According to venture capitalists, major international players will flock to the crypto markets when clarity comes from the US authorities. O’Leary states that asset and pension funds will be heavily buying, which will mean an upward move for the crypto space. For this reason, he states that he views the regulation positively.
He thinks that if such funds transfer a trillion dollars to Bitcoin, the largest cryptocurrency will settle in the $ 60,000-100,000 range. Therefore, he conveys that he is optimistic for BTC. At the time of writing, BTC is changing hands at $19,281. In recent weeks, it has been struggling with the $20,000 level. As we reported on Kriptokoin.com, BTC recorded its all-time high in November of 2021. At that time, the coin was changing hands at $ 69,000. It has dropped 70 percent since then.
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