In a recent interview, businessman and entrepreneur Kevin O’Leary revealed his altcoin positions. He described his choice of crypto assets other than the biggest ones to add to his crypto portfolio. Here are the details…
Kevin O’Leary’s altcoin basket has these
Kevin O’Leary explained his cryptocurrency preferences in a recent interview. It has positions in major altcoins including Etheruem (ETH), Solana (SOL), Helium (HNT), Polygon (MATIC), Algorand (ALGO), and even Polymath (POLY). The Shark Tank investor went on to say that he has it all when it comes to crypto assets. He stated that although he has 32 positions, he does not know which will work or not.
He reiterated the general view in the market, saying that not all of his investments even need to yield results. He said that, among other investments, POLY is the newest addition to his choices. Ethereum-based Polymath (POLY); It focuses on providing benefits such as token creation, issuance, and digital securities management. These digital securities hold representations of stocks or real estate, such as asset ownership.
Their investments aren’t just limited to crypto
O’Leary also talked about his investment in Circle, the company behind USDC. Referring to the clarity of the regulator, he said that the USDC stablecoin has the potential to cause complete disruption in the currency industry. Additionally, the digital asset is also moving to streamline the fund transfer process. The venture capitalist announced that he, along with BlackRock and Fidelity, invested during Circle’s Series F funding round. Also, the famous investor thinks of crypto as a thriving industry that will stand next to assets like the S&P 500 index. He cited the fact that giant companies stepped into the crypto space as the prominent reason in this regard.
NFTs will be bigger than Bitcoin
On the other hand, Kevin O’Leary said on Twitter, “NFTs will be bigger than Bitcoin.” The “Shark Tank” investor cited “NFTs’ ability to register ownership” as the reason behind this. With an estimated market cap of around $40 billion, the non-fungiable token market will need to grow by over 1,000 percent to surpass Bitcoin’s market cap.
Still, this estimate is actually quite reasonable, given the wide applications for NFTs. While Bitcoin is primarily used as a store of value and in some cases currency, NFTs can be used for intellectual property, art, gaming, identity and more. The investor and crypto bull has long supported cryptocurrency, DeFi, and NFTs. O’Leary pointed out that amid the market downturn, there are many opportunities in the bear market. As we have also reported as Kriptokoin.com, it has announced that it has doubled its investments for this reason.
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