Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has revealed that cryptocurrencies now represent about 11% of his portfolio. He stressed that he owns crypto coins directly and would never buy spot bitcoin exchange-traded funds (ETFs). “I would never do that. Why would I pay the fees?” he emphasized, adding that he owns bitcoin and a few other cryptocurrencies.
Kevin O’Leary Holds 11% in Crypto
Shark Tank star Kevin O’Leary, aka Mr. Wonderful, shared his perspective on bitcoin and spot bitcoin exchange-traded funds (ETFs) in an interview with The Street on Friday. He is the chairman of O’shares Investments and O’Leary Ventures.
Commenting on spot bitcoin ETFs, he said: “I think it’s great that finally we have a bitcoin ETF because there are many people that would own bitcoin through an ETF.” However, he reiterated his stance:
I would never do that. Why would I pay the fees? There’s no added value to an ETF. I just own the coin directly.
Sharing his crypto investing strategy, he explained: “I use it as a 5% weighting right beside gold at a 5% weighting, and I trim it every quarter based on its appreciation or decline of value because it’s liquid.”
O’Leary continued: “You don’t need to put bet the farm on bitcoin, but why not use it the same way you would for an alternative asset like gold? So gold’s 5%, bitcoin’s 5%.” He revealed that he also owns several other cryptocurrencies, including hedera (HBAR), solana (SOL), and polygon (MATIC). Moreover, he said he owns “a lot of other different technologies” that he believes have merit in use cases.
Mr. Wonderful concluded:
So I’d say right now total crypto holdings sort of sitting around the 11% of the portfolio.
Do you agree with Kevin O’Leary about investing in spot bitcoin ETFs? What do you think about him holding 11% of his portfolio in crypto? Let us know in the comments section below.
Source: Bitcoin
