Shark Tank star Kevin O’Leary reveals that he took advantage of the market drop to add Bitcoin and altcoins to his portfolio. In a new interview with Stansberry Research, O’Leary stated that the crypto portfolio is experiencing a double-digit drop. But he said he sees the drop as an opportunity to buy. You can see Kevin O’Leary’s statements in the rest of the news…
Kevin O’Leary capitalized on Bitcoin and altcoin drop
O’Leary, the billionaire name known for being a bull in the crypto money field, as we have also reported as Kriptokoin.com, conducted an interview. In the interview, O’Leary explained how his portfolio was affected by the crypto crash, with the following statements:
We took a hit. We were in 20 percent of the portfolio. Then it rose to 23 percent. Then it fell to 16 percent of the portfolio. It was really variable. However, I have always said that you will encounter this volatility in an industry that is not regulated because there is no institutional offer. So we were probably at the lowest, at 15 percent. We lost 40 percent of the value and now we are back on some projects. But they did not all come back at the same speed.
O’Leary added these coins to his portfolio
The Shark Tank star spoke of “coins with large market caps such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Polygon (MATIC) and Hedera (HBAR)”, doubling in some cases. O’Leary said they benefit from extreme volatility and major cryptocurrencies such as Bitcoin and ETH. According to the venture capitalist, the “real problem” facing cryptoassets right now is the lack of institutional participation. O’Leary used the following statements:
This asset class is not associated with anything as people think. It has nothing to do with inflation yet. But the real problem is… It’s really a measure of where the corporate buyer is. And now, zero. They don’t have bitcoins. Anyone who tells you that the ruling institutions own BTC is bullshit.
O’Leary’s previous comments
Best known as the shark on the hit reality TV show Shark Tank, O’Leary is the chairman of O’Shares Investments and a strategic investor in WonderFi. Mr. O’Leary’s success story begins where most entrepreneurs begin: A big idea and zero cash. In the past weeks, O’Leary has claimed that crypto markets are in danger of a major capitulation event that will trigger further panic among investors. O’Leary argued that despite the decline in prices over the last two months, the market has not yet bottomed out.
Apart from that, O’Leary warned that the crypto markets could enter a major capitulation event in the near future, which will create even greater uncertainty for investors. However, he had warned that such an event would present a major buying opportunity. It looks like he took this opportunity, too.
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