Shark Tank star Kevin O’Leary has shed light on his crypto portfolio in an interview with Trader TV, revealing that his crypto portfolio includes Bitcoin and four other altcoins. He also revealed his allocation to each crypto, with Ethereum currently being his largest allocation.
A Diversified Portfolio
In the interview with Trader TV, O’Leary revealed that he has invested in Ethereum and Solana, both leading smart contract platforms. He also has a considerable investment in blockchain scaling solution Polygon (previously Matic) and Hedera Hashgraph (HBAR), which is a leading peer-to-peer payments network.
He stated in the interview,
“I think Bitcoin is software. I think Ethereum is software. I think HBAR is software. Polygon is software. I invest in all of it.”
Revealing The Crypto Allocation
O’Leary also revealed that his largest investment at present is in Ethereum. However, he also stated that he owns a considerable amount of Solana (SOL) and revealed a meeting with the Polygon team, which left him thoroughly impressed.
“My largest right now is Ethereum, but I also own a lot of Solana, a lot of Polygon. Polygon guys I met in Dubai, I was so impressed with their whole technology of aggregating transactions on top of Ethereum and then reducing gas fees or costs dramatically. And any time you can add efficiency, you can reduce friction, reduce costs, be more productive; you want to invest in teams that do that, so I invested in them as well.”
Increasing Exposure To The Crypto Market
O’Leary also outlined his plans for 2022, stating that he has significantly increased his allocation in the crypto market and will continue to do so 9n 2022. He said that he currently spends a considerable amount of time every day looking at new projects and deals in the crypto space.
He also stated that his exposure in the crypto space was around 3% during the first quarter of last year, but currently, his exposure stands at over 10% as a result of his work with FTX and Circle.
“I remember talking to you guys at the beginning of last year, and I was saying I was thrilled at my crypto exposure in February and March – the end of Q1 – was 3%. Well, through more investment [in 2021] in companies like WonderFi and Immutable Holdings… my exposure now across crypto, including my work with FTX and with Circle in USDC (USD Coin), I’m past 10%.”
Regulatory Hurdles To Continue In 2022
As for his prediction for the crypto space in 2022, O’Leary said that he believes that the regulatory stalemate will continue into 2022 and that nothing spectacular will happen in the US market.
“In 2022, nothing’s going to happen in the US market. I don’t think they’ll even deal with stablecoins. That geography is going to go through a very long process before it institutionalizes crypto.”
Two Types Of Bitcoin To Emerge
According to O’Leary, the world will be seeing the emergence of two types of Bitcoin in the near future. One type is mined sustainably, which he refers to as a “clean coin,” and another type mined from China through unsustainable means, which he refers to as a “blood coin.” Chinese miners have been utilizing non-renewable sources to power their mining operations, which O’Leary believes has a huge negative impact on the environment.
Regulation For Crypto A Priority
O’Leary also urged regulators to actively regulate the crypto space, stating that people do not want to be “cowboys” in the sector. According to O’Leary, if regulators would classify Bitcoin as an asset, it would create a surge of interest in Bitcoin, with potentially a trillion dollars entering the BTC market.
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.
