Canadian businessman and investor Kevin O’Leary has admitted that he invests in cryptocurrencies, and while he is remaining tight-lipped on the exact cryptocurrencies he has invested in, he admitted that he is particularly interested in stablecoins.
“Shark Tank” investor Kevin O’Leary revealed to CNBC that after sitting on a “large amount of cash,” following the sales of various commercial property investments, he is looking to invest in what he refers to as “software development”.
O’Leary may be interested in investing in cryptocurrency, however he added during the segment on CNBC’s Capital Connection, that he has no interest in being a “crypto cowboy” and prefers to consult with regulators.
“I have no interest in being a crypto cowboy and getting anybody unhappy with me because … I have so many assets in the real world that I’ve invested in already that I have to be compliant”, he added.
In a conversation about the SEC and their ongoing case against Ripple, he noted that he has “zero interest in investing in litigation against the SEC, that is a very bad idea,”. Instead, O’Leary believes a US-backed stablecoin is the biggest investment opportunity.
“That’s why I came here, I wanna hear from the regulator what the plan is so that I can be involved in this because I am going to every jurisdiction that is forward thinking about decentralized finance,”
He also brought up the problem of inflation, noting that speaking as an investor, and not as a politician, he is worried about inflation and possible hyperinflation. O’Leary revealed that the sales of his commercial property investments would lose buying power in an inflationary scenario, and that he is allocating some of this into cryptocurrency.
O’Leary named several platforms that he would potentially invest in, including Solana and Polygon, viewing his investment into a number of platforms as a way to avoid missing out. He said: “I need to invest in all of those, not just one of them because I don’t know who the winner’s going to be”.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
