Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has revealed that cryptocurrencies now represent about 11% of his portfolio. He stressed that he owns crypto coins directly and would never buy spot bitcoin exchange-traded funds (ETFs). “I would never do that. Why would I pay the fees?” he emphasized, adding that he owns bitcoin and a few other cryptocurrencies.
Kevin O'Leary Reveals Crypto Now Makes up 11% of His Portfolio
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Kevin O’Leary Holds 11% in Crypto
Shark Tank star Kevin O’Leary, aka Mr. Wonderful, shared his perspective on bitcoin and spot bitcoin exchange-traded funds (ETFs) in an interview with The Street on Friday. He is the chairman of O’shares Investments and O’Leary Ventures.
Commenting on spot bitcoin ETFs, he said: “I think it’s great that finally we have a bitcoin ETF because there are many people that would own bitcoin through an ETF.” However, he reiterated his stance:
I would never do that. Why would I pay the fees? There’s no added value to an ETF. I just own the coin directly.
Sharing his crypto investing strategy, he explained: “I use it as a 5% weighting right beside gold at a 5% weighting, and I trim it every quarter based on its appreciation or decline of value because it’s liquid.”
O’Leary continued: “You don’t need to put bet the farm on bitcoin, but why not use it the same way you would for an alternative asset like gold? So gold’s 5%, bitcoin’s 5%.” He revealed that he also owns several other cryptocurrencies, including hedera (HBAR), solana ( SOL), and polygon (MATIC). Moreover, he said he owns “a lot of other different technologies” that he believes have merit in use cases.
Mr. Wonderful concluded:
So I’d say right now total crypto holdings sort of sitting around the 11% of the portfolio.
Do you agree with Kevin O’Leary about investing in spot bitcoin ETFs? What do you think about him holding 11% of his portfolio in crypto? Let us know in the comments section below.
