With his appearance in Shark Tank and Mr. Billionaire investor Kevin O’Leary, known by the pseudonym Wonderful, provided a scathing analysis of the role of Bitcoin and altcoin projects in reshaping the investment landscape. He also revealed the altcoins he keeps in his own wallet. Here are the details…
Shark Tank star confident that BTC won’t go to zero
According to Kevin O’Leary, Shark Tank star and President of O’Shares, something to be sure about in the cryptocurrency space The reason is that Bitcoin (BTC), the largest cryptocurrency by market cap, will never go to zero. O’Leary, who participated in Bitcoin 2022 and gave various interviews during the sessions, used the following statements about BTC and how much he holds in his portfolio, as we have also reported as Kriptokoin.com:
Bitcoin will never go down to zero. This is my personal opinion. There are enough people around the world, myself included, who see it as a store of value. BTC weighs 5% in my portfolio, just like gold.
So, which altcoin projects are in your wallet?
O’Leary’s 5 percent allocation is just an investment in Bitcoin itself, not the entire cryptocurrency space. 20 percent of its portfolio is in decentralized finance (DeFi) and crypto, with a number of companies in the crypto space. O’Leary also announced Ethereum (ETH), Solana (SOL), Polygon (MATIC), Hedera (HBAR) and Avalanche (AVAX) as his coins. According to the famous investor, in the future, there will be billions of dollars more allocated to the crypto space, especially Bitcoin.
But O’Leary said US regulators need to clear a few things first. “What we really need is for US regulators to establish a regulatory framework. Then the allocations will start first in Bitcoin,” he said. As for other crypto assets, O’Leary pointed out that US politicians will often have to approve stablecoins based on an asset to keep the US dollar as the world’s reserve currency. The great thing about pegging stablecoins on a regulatory basis is that it creates a global currency backed by the US dollar. Thus, the US dollar is held as the reference currency globally.
13920
