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Shark Tank’s Kevin O’Leary Ready to Put 5% of His Portfolio in SEC-Approved Bitcoin ETF

Shark Tank's Kevin O'Leary Ready to Put 5% of His Portfolio in SEC-Approved Bitcoin ETF

Shark Tank star Kevin O’Leary, also known as Mr.
Wonderful, is ready to put 5% of his investment portfolio in a
bitcoin exchange-traded fund (ETF) that is approved by the U.S.
Securities and Exchange Commission (SEC). Long known as a bitcoin
skeptic, O’Leary is worried about bitcoin’s volatility and
wants regulators to be comfortable with it before he jumps
in.

Kevin O’Leary Wants to Invest in Bitcoin ETF

Canadian investor and television personality Kevin O’Leary
discussed his view on bitcoin last week in a podcast hosted by
Morgan Creek Digital partner Anthony Pompliano.

O’Leary has been a bitcoin skeptic. He
told
CNBC in May last year that bitcoin was “worthless” and
“a useless currency,” stating that to him, “it’s garbage
because you can’t get in and out of it in large amounts.”

While he still has the same concerns, the Shark Tank star said
that he is not against bitcoin. “I do own a small amount of
bitcoin,” he said, adding that he bought the BTC because a class he
taught at Harvard University challenged him to get involved in
cryptocurrency.

However, he is worried about bitcoin’s volatility and the
regulators’ adverse response to it. “Every time I talk off the
record to the regulators, because I talk to them all the time for
various reasons, they’re a little squeamish on bitcoin, they are
not quite there yet,” he cautioned.

O’Leary added, “When I can get this thing regulated so that
I can put millions of dollars into it and know that I’m not off
the side in any way. I’m not breaching anything … and it would
be stable,” he affirmed:

If that was the case, if tomorrow morning we woke up and the SEC
said you can create an ETF with bitcoin and we think bitcoin is a
legitimate, you know, payment system and store of wealth, not only
would it go up but you’d have a lot of people like me investing
in it.

He elaborated that if that happens, “I’d say okay I’m
going to give it a 5% weighting so you know I don’t really want a
significant portion of my portfolio having that amount of
volatility.” He said he prefers to invest in an ETF and many of
his investments are in ETFs.

As an investor who believes in diversification, O’Leary
reiterated that it bothers him “a little bit” that “in the
crypto space you have to be very concentrated to get these returns
in one cryptocurrency, bitcoin.”

Do you agree with O’Leary? Let us know in the comments
section below.

The post
Shark Tank’s Kevin O’Leary Ready to Put 5% of His Portfolio in
SEC-Approved Bitcoin ETF
appeared first on Bitcoin News.

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Translator / 翻译者 / Traductor