Get yourself a crypto tee or surprise a crypto enthusiast in your life with our festive Coin Bureau Merch!
Shark Tank Billionaire Kevin O’Leary Investment Portfolio Now 20% Crypto
3 min read

Shark Tank Billionaire Kevin O’Leary Investment Portfolio Now 20% Crypto

By News Desk

Canadian venture capitalist and star of Shark Tank Kevin O’Leary has upped his crypto investment portfolio to 20%.

Speaking with CNBC’s Squawk Box, O’Leary says he views cryptocurrencies as if they’re shares in software companies.

“Bitcoin is not a coin, it’s simply software,” he said.

“Ethereum is software. HBAR is software. If you own Microsoft, if you own Google, why don’t you own Bitcoin? It’s all software… 20% of my portfolio is now in cryptocurrencies and blockchain.”

O’Leary, a former crypto skeptic who referred to Bitcoin as “garbage” less than three years ago, before slowly changing his tune. By March of 2021, the billionaire conceded and revealed he was planning on putting 3% of his portfolio into Bitcoin.

Roughly a year later, O’Leary has expanded well beyond Bitcoin, venturing into a variety of altcoins, mining companies, and even becoming a spokesperson for FTX, one of the biggest crypto exchanges in the world.

Image via Shutterstock

“You have to be diversified.” he said, adding that he owns 32 different positions, including his equity in FTX.

“You don’t know who’s going to win. Is Ethereum going to win? Is Solana going to win? Is it Helium? Is it Avalanche? I own them all, and luckily they’re just software developer teams, you go meet these people and you find out they’re in their twenties, they’re the smartest engineers in the world. If you graduate from MIT right now, you don’t want to work at an old industrial company. You want to go to a blockchain company. So we should support this initiative…”

O’Leary has also become a vocal proponent of reaching regulatory clarity for crypto in the US, lamenting that other geographies are getting a head start on the blossoming industry with more accommodative environments. He is reportedly working with Senator Cynthia Lummis of Wyoming to create bipartisan crypto-friendly legislation.

“Right now the world is waiting,” O’Leary said.

“The Canadians had the very first crypto exchange. They have the very first ETF with Bitcoin in it. How come we don’t? The same in the United Arab Emirates. Same in Switzerland. We are so far behind in policy for this nascent industry that’s going to lead the world in financial services. We gotta get going.”

Newsletter Inline

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

Related Posts

FTX Exchange
Withdrawals not Halted at FTX: Instead Binance will Buy FTX
FTX Exchange

Withdrawals not Halted at FTX: Instead Binance will Buy FTX

November 9th, 2022 3 min read
OKX invests in WAX
OKX Blockdream Ventures Invests Millions in GameFi and NFT Development on WAX
OKX invests in WAX

OKX Blockdream Ventures Invests Millions in GameFi and NFT Development on WAX

June 3, 2022 2 min read
Binance partners with the weekend
Binance Partners with The Weekend to Provide First-Ever Web 3 Enhanced World Tour
Binance partners with the weekend

Binance Partners with The Weekend to Provide First-Ever Web 3 Enhanced World Tour

June 3, 2022 2 min read
21Shares Releases Sixth State of Crypto Report
21Shares Releases Sixth State of Crypto Report: Summary
21Shares Releases Sixth State of Crypto Report

21Shares Releases Sixth State of Crypto Report: Summary

June 2, 2022 3 min read
Algorand and MakerX Commit 1M Algo to Migrate Terra Users to Algorand
Algorand and MakerX Commit 1M Algo to Migrate Terra Users to Algorand
Algorand and MakerX Commit 1M Algo to Migrate Terra Users to Algorand

Algorand and MakerX Commit 1M Algo to Migrate Terra Users to Algorand

June 2, 2022 2 min read
Regulators are “Not Allowing” Banks to Engage with Crypto
Bank of America CEO: Regulators are “Not Allowing” Banks to Engage with Crypto
Regulators are “Not Allowing” Banks to Engage with Crypto

Bank of America CEO: Regulators are “Not Allowing” Banks to Engage with Crypto

June 1, 2022 2 min read
US Conference of Mayors Introduces Blockchain Resolution
US Conference of Mayors Introduces Blockchain Resolution
US Conference of Mayors Introduces Blockchain Resolution

US Conference of Mayors Introduces Blockchain Resolution

June 1, 2022 2 min read