Investment guru and Shark Tank’s reality TV star Kevin O’Leary has gotten further into the crypto sector. According to O’Leary, crypto is now around 10% of his entire portfolio, up from around roughly 6% he said he had previously just weeks ago. This means that for O’Leary, the crypto sector is making more and more sense now.
O’Leary is self-styled Mr Wonderful on the Shark Tank which is a popular reality TV show in which businesses come and display their workings for a chance of investment from one of 4/5 elite investors in the panel aka sharks. O’Leary is one of the sharks and he was part of the original panel back when the show was founded. According to the show, he made his fortune selling a children’s education company for billions and is known to be a shrewd investor. O’Leary has successfully invested in some hit products and services on the show itself. and has reaped rewards as well. He is known to have a knack for spotting a good investment despite being often chided for his cold blooded business ethics and dealings.
O’Leary became interested in the crypto sector a year or so ago. Prior to that, he was a crypto skeptic and didn’t think the sector could survive in the long-run. He has since done a complete 180 degree turn on the matter and has invested more and more of his worth into it. Just a few weeks ago, O’Leary revealed that he had around 6% but now, it makes up more than 10% of his entire worth.
In a live recording in subreddit r/Cryptocurrency, O’Leary said:
“At the beginning of the year, I was at 3% weighting; the target was to get 7% by year-end. However, because of the appreciation of so many of the assets I have now, we’re almost at 10% today. Some people think the game is over, and Ethereum is it, but I don’t agree. There are many other alternatives, whether it be Solana or anything else. If you’re an investor like I am, you want diversification. That’s the key.”
He even tweeted:
— Kevin O’Leary aka Mr. Wonderful (@kevinolearytv) October 2, 2021
So, his net allocation to crypto has increased but not because of more investment but rather the appreciation of his already invested assets. This is quite a turnaround for someone who called Bitcoin garbage just a few years back and likened it to a fraud.
Don’t worry, we hate spam too
one weekly digest, just the important stuff.