Shark Tank star and investor Kevin O’Leary says his portfolio contains more cryptocurrency than gold for the first time.
In a new interview with Daniella Cambone on Stansberry Research, the business magnate says that whereas he doesn’t intend on promoting all his gold right away, star tank star Kevin O’Leary sees a lot of opportunity in the crypto space far beyond mere price speculation.
“I’ve 5% in gold so crypto for the first time is more than gold for me, and I’m going to keep my gold. I see no reason to sell it. However, in crypto, it’s not simply betting on the worth of Bitcoin (BTC) anymore. There are such a lot of different methods to take a position, notably in blockchain alternatives such as Solana and Ethereum.
There are so many totally different level ones, and naturally, the extent twos, the derivatives which are placed on prime of Ethereum and Solana and all the others. I just see loads of funding opportunity, and I’m going to be an investor in that space.”
O’Leary reveals that crypto now makes up 7% of his investment portfolio.
He additionally says that whereas the media tends to drive a wedge between Bitcoin and gold, he maintains that it’s a “good thought” to have exposure in each asset.
“Nothing is going to replace gold. It will stay an asset class in portfolios like mine and others as property. You can’t stake gold. You can’t lend gold. At the identical time, with crypto, you have the opportunity to stake it or lend it and get some kind of appreciation of value through interest.
So I think they’re two different asset lessons. It’s fun to see the press create this controversy between gold and Bitcoin, [but] it’s irrelevant. They’re completely different. From my perspective, having exposure to each is a good idea.