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March 12, 2022

20% of Kevin O’Leary Is In Cryptocurrency

Kevin O’Leary, a Canadian businessman and television host known as “Mr. Wonderful,” has disclosed that crypto assets account for 20% of his entire interests. He revealed this in an interview with CNBC on Friday.

“I have millions of dollars, and cryptocurrencies and blockchain now account for 20% of my portfolio,” he stated.

One interviewer inquired whether any cryptocurrency would cease to exist within the next ten years.

“You must be versatile. I am the owner of 32 different positions, including equity FTX. The whole point is that you have no idea who will win. Is Ethereum going to triumph? Is Solana going to be victorious? Is it Avalanche or Helium? I own them all,” he said.

O’Leary’s recent revelation comes the same week that US President Joe Biden signed an executive order demanding that the government study the impact of bitcoin on financial stability and national security.

During the conversation, O’Leary claimed that he had purchased a stake in at least one private Bitcoin mining plant. He further stated that following the executive order, he sold his investments in publicly traded Bitcoin mining firms.

It’s worth mentioning that O’Leary was once a crypto skeptic before lately becoming a firm believer. In 2019, he referred to Bitcoin as a valueless money.

It’s not only O’Leary’s. There is a large list of other people who have previously expressed skepticism about cryptocurrency. Some, though, have eventually become believers. Don Tapscott, Niall Ferguson, Joe Weisenthal, and Kevin Roose are all previous crypto skeptics who have since become believers.

At the same time, billionaires and huge corporations have shown a strong interest in cryptocurrency in recent years.

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In late 2020, Mexican billionaire Ricardo Salinas claimed that Bitcoin accounted for 10% of his liquid assets. He also advised prospective investors to study “The Bitcoin Standard,” an award-winning book written by Bitcoin educator Saifedean Ammous.

Seek Capital, the family office of billionaire Simon Nixon, declared plans to raise its crypto exposure last August, claiming that it is a crucial component of the future. Recently, fund manager Bill Miller stated that Bitcoin and other cryptocurrencies account for around half of his personal holdings.