‘Shark Tank’ Star Kevin O’Leary Reveals His Crypto Portfolio Allocation, Says Bitcoin is ‘Never Going to Zero’

Kevin O’Leary, a famous investor known as “Mr. Wonderful” on the ABC TV series “Shark Tank”, has revealed what percentage of his entire portfolio is allocated to the cryptocurrency space, months later explaining that he sees Bitcoin ($BTC) moving to $300,000.

During an interview with Kitco NewsO’Leary revealed that he does not see the price of the flagship cryptocurrency falling to zero in the future, as BTC is now seen as a store of value in the same way as gold. As such, he has put 5% of his portfolio into precious metal and cryptocurrency.

During the interview, O’Leary compared bitcoin to gold and admitted that he had a similar allocation for both in his portfolio after saying “Bitcoin never goes to zero.” While he noted that this is his personal opinion, he believes there are “enough people around the world who see it as a store of value, me included.”

The Canadian businessman then revealed other crypto assets he is exposed to that make up 20% of his portfolio, including Ethereum ($ETH), Solana ($SOL), $HBAR, Polygon ($MATIC), and Avalanche ($AVAX). . . In his words, investors have to diversify their holdings. He has “won 32 different jobs, including equities and FTX itself.”

O’Leary added that since it is impossible to know “who is going to win”, he has exposure to various cryptocurrency networks. The entrepreneur believes that cryptocurrency adoption in the US will take off once there is more regulatory clarity.

Once that happens, he said, allocations to the cryptocurrency space will increase. First, she said, institutions will move to BTC, before moving on to other crypto assets. The value of Bitcoin, she added, could skyrocket to $300,000 thanks to these allocations.

The celebrity investor also compared investing in cryptocurrencies like Bitcoin to holding positions at leading corporations like Microsoft and Yahoo. In the past, O’Leary has said that because it services sovereign wealth funds and pension plans that, despite the hype surrounding cryptocurrencies like BTC, most institutions do not own a single currency, nor they will be until “their compliance departments allow ESG mandates.” to be ‘check the box on that and of course comply with the asset class itself’.

Various companies, including MicroStrategy, Tesla, Block, Marathon Digital Holdings and Canada have added the flagship cryptocurrency to their balances, while some investment funds have added exposure to BTC through Grayscale’s Bitcoin Trust (GBTC).

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment, or other advice. Investing or trading crypto assets carries a risk of financial loss.

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