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Kevin O’Leary Reveals Crypto Strategy, Why He Prefers Ethereum, Says NFTs Will Be Bigger Than Bitcoin – Featured Bitcoin News

Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has shared his cryptocurrency funding technique and which coins he owns. He additionally mentioned crypto market bubbles, diversification, regulation, and why he thinks non-fungible tokens (NFTs) might be greater than bitcoin.

Kevin O’Leary Discusses His Crypto Investments, Market Bubbles, and NFTs

Shark Tank star Kevin O’Leary mentioned cryptocurrency, his funding portfolio, diversification, market bubbles, meme coins, and non-fungible tokens (NFTs) in a latest interview with Forbes, printed Friday.

He defined that he views “the entire crypto industry as software development teams,” including that he’s betting on “really strong creative software engineers.” While speaking about his cryptocurrency holdings, he revealed:

Ether is my largest place, greater than bitcoin.

“It’s because so many of the financial services and transactions are occurring on it,” the Shark Tank star described. “Even new software is being developed like Polygon that consolidates transactions and reduces the overall cost in terms of gas fees on Ethereum.”

O’Leary then talked about among the cryptocurrencies he owns, stating:

I personal hedera, polygon, bitcoin, ethereum, solana, serum — these are bets on software program improvement groups and there are various, many use instances for them.

Moreover, Mr. Wonderful added that he holds “a significant and material position in USDC,” noting that he’s “starting to pay for assets and get paid in the stablecoin.”

“At the end of the day, what determines the platform’s success and value is the speed and level of adoption. That occurs when the team has developed a platform that solves an economic problem,” he opined.

O’Leary proceeded to supply his opinion about meme cryptocurrencies. Noting that “long term coins that have no economic value are that because they don’t solve anything or create any value,” he cautioned:

I’m very skeptical of meme coins long run.

The Shark Tank star was additionally requested whether or not he thinks bitcoin or different cryptocurrencies are in a bubble. He replied: “The thing to realize is, the market is the market. No one person can manipulate it, even though people claim they can … It’s millions of decisions being made every second in terms of what something is worth. And it applies to every market, whether it’s tulips, watches, bitcoin, real estate or gold.”

Noting that “Over the long run, it’s a fool’s game and you can’t win,” he burdened:

You can’t know when it’s a bubble, you merely can’t. And when you assume you do, you’re completely flawed.

O’Leary believes in portfolio diversification. The cryptocurrency portion of his portfolio has been rising. He detailed that in some unspecified time in the future cryptocurrency “might get to 20% of my operating company — but right now, it’s about 10.5%.” He clarified:

Within that portfolio, there’s nobody token coin or chain that’s greater than 5% of that portfolio. So sure, I’m actively including and trimming based mostly on volatility.

In addition, he stated that he’s doing a number of staking. “Most of my positions are now being staked,” he confirmed, noting that he’s utilizing the crypto alternate FTX for staking. Mr. Wonderful introduced in October that he’s taking an fairness stake within the crypto alternate and might be “paid in crypto to serve as an ambassador and spokesperson for FTX.”

When requested whether or not there’s a probability that the U.S. Securities and Exchange Commission (SEC) may decide among the cryptocurrencies he owns to be securities and what he’ll do if that occurs, O’Leary promptly replied:

The minute that data will get out, I’ll need nothing to do with them. If I had a place I might promote it. I’ve little interest in going into battle with regulators over my crypto portfolio. I need to be 100% compliant.

He stated the identical about XRP in November. XRP is the topic of an SEC lawsuit towards Ripple Labs and its executives, Brad Garlinghouse and Chris Larsen. “I have zero interest in investing in litigation against the SEC. That is a very bad idea,” he burdened.

O’Leary additionally mentioned non-fungible tokens (NFTs). “They offer so much value around authentication, inventory management, and all kinds of use cases in different asset classes,” he described, including:

I feel non-fungible tokens are going to be greater than bitcoin.

He proceeded to attract consideration to his NFT venture. “I prefer NFTs tied to hard assets, physical assets; the one that I’m working on developing a white paper for is the watch industry,” he stated. “I made a material investment in Jordan Fried’s company, Immutable Holdings, which owns nft.com, which he’s launching in January, as well as Wonderfi.”

Tags on this story
bitcoin bubble, bitcoin bubbles, cryptocurrency bubbles, Diversification, kevin o’leary, kevin o’leary bitcoin, kevin o’leary crypto, kevin o’leary cryptocurrency, Kevin O’Leary cryptocurrency Holdings, Meme Coins, meme cryptocurrencies, nft, Non-fungible tokens, portfolio Holdings, Shark Tank

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Kevin Helms

A scholar of Austrian Economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His pursuits lie in Bitcoin safety, open-source techniques, community results and the intersection between economics and cryptography.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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