Investor and TV personality Kevin O’Leary announced that he is getting warmer to Bitcoin and is currently holding 3% of his portfolio in marketplace BTC and ETH. In a CNBC interview, the Shark Tank panelist stated that he was “mesmerized” by cryptocurrencies.
Predicting that “digital currencies will be permanent”, O’Leary is considering going beyond buying and holding crypto assets.
“I started thinking about how to invest in bitcoin mining infrastructure.”
“I’m getting used to the fluctuations”
The Shark Tank star admits that the volatility of cryptocurrencies remains an issue, but is hopeful that institutional investors are prone to wild fluctuations.
“Ripple annoys me, but I’m used to it. Most people willing to hold cryptocurrencies over the past 90 days, including institutions, are ready to deal with the volatility.
In a subsequent tweet, O’Leary suggested that the best way to deal with the frenzy of crypto volatility is to limit exposure.
“Given the volatility of cryptocurrencies, the main decision you have to make after you decide to join in the first place is what percentage of your portfolio you have allocated. Maximum 5% for me! ”
He was against cryptocurrencies before
O’Leary’s transformation in cryptocurrencies took place within a few months. In late December, he described Bitcoin as “an unrelated noburger.”
But last month, the Shark Tank star stated that the changing regulatory waves towards Bitcoin and the crypto space are a “game changer” for him and other investors.
“Canadians, Swiss and many other regulators made 180% in BTC. This is a game changer for many investors, including me. ”
Last month, Canada’s Ontario Securities Commission approved a Bitcoin exchange-traded fund (ETF). In Switzerland, the law that allows securities to be tokenized while providing legal protections similar to traditional assets entered into force on 1 February.