“Shark Tank” fame Kevin O’Leary in an interview with CNBC on Friday said, one-fifth of his investment holdings are in the burgeoning cryptocurrency and blockchain industry, with major investments diversified mainly in crypto tokens, currencies, and companies.
Moreover, he believes President Joe Biden’s crypto executive order lacks much detail. Also, he expressed concerns about the way Biden’s directive includes an emphasis on climate risks associated with cryptocurrency.
Kevin O’Leary Has 20% of Investment Portfolio in Crypto
In a recent interview on “Squawk Box” for CNBC, investor Kevin O’Leary revealed his exposure to digital assets equals 20% of his total investment portfolio. He said:
“I have millions of dollars, 20% of my portfolio is now in cryptocurrencies and blockchain.”
“I have millions of dollars–20% of my portfolio is now in #cryptocurrencies and blockchains,” says @kevinolearytv. “If you own $MSFT, if you own $GOOGL. Why don’t you own #bitcoin?” pic.twitter.com/gGVnCQARMz
— Squawk Box (@SquawkCNBC) March 11, 2022
He thinks investors are pouring money into technology companies like Google and Microsoft, so why not invest in innovative technologies like Bitcoin and blockchain.
O’Leary also reveals his diversified investments in Ethereum, Solana, Helium, and Avalanche, along with other crypto companies.
“You have to be diversified, I own 32 different positions including equity in FTX. The whole point is you don’t know who’s going to win. I own them all.”
He expressed concerns about the way Biden’s directive includes an emphasis on climate risks associated with cryptocurrency. O’Leary said he’s invested in at least one private bitcoin mining facility. However, he said he sold his positions in publicly traded bitcoin mining firms after Biden’s executive order.
“The future of public Bitcoin companies is uncertain. After reading POTUS Crypto executive order, I sold all my RIOT, MARA, HIVE, & HUT because they use Carbon credits. This won’t survive audit. Institutional capital will only invest in 100% hydro powered miners!”
The U.S. Needs To Catch Up Fast In Crypto Policy
Moreover, he warned that the U.S. is far behind in crypto policy, and needs to catch up to countries like Canada and Switzerland.
“The Canadians are more advanced. They have the very first crypto exchange, the first ETF with bitcoin in it. How come we don’t?”
“We are so far behind in policy for this nascent industry that is going to lead financial services.”
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