In December 2020, Kevin O’Leary cautioned that investors would feel hugely disappointed when regulators come down hard on Bitcoin. He cited that this unfortunate scenario is worrying and that people would never witness such a considerable capital loss. The “Shark Tank” star added that it would also be “brutal.”
Nevertheless, according to the report posted online by Bitcoin-focused website Bitcoin News, O’Leary is now a Bitcoin believer. The popular TV personality, also known as “Mr. Wonderful,” has reportedly commenced investing in Bitcoin. O’Leary said that he thinks investing in the world’s popular cryptocurrency is not merely a fad anymore. This welcoming news is truly fantastic, and we reckon that it is worth sharing with our readers.
We believe that Mr. O’Leary has made the correct decision to change his mind. The well-known TV personality and Canadian investor garnered fame in “Shark Tank,” a business-themed reality TV program. We can recall that Mr. O’Leary previously referred to Bitcoin as a “giant nothing burger” and a piece of rubbish. Last week, however, O’Leary made an appearance on CNBC. In the interview, he affirmed that he has officially changed his stance about Bitcoin.
O’Leary also cited that he actually believes cryptocurrencies are here to remain. He confirmed that he feels fascinated with his decision to become a Bitcoin investor. O’Leary pointed out that most retail and institutional investors today are willing to hold digital currencies over the last 90 days and are eager to deal with the volatility.
O’Leary relayed that he is holding a 3-percent weighting in it between Bitcoin and Ethereum. He remarked that Bitcoin’s known volatility has made him feel sick, but he said that he is getting accustomed to this situation. The “Shark Tank” star also added that he is finally beginning to consider investing in Bitcoin mining infrastructure.
O’Leary said that the percentage of investor’s portfolio allocated is the primary decision they need to make following their choice to invest in the first place. He was commenting on Bitcoin’s volatility and shared that, for him, the percentage of his portfolio he has allocated is a maximum of five percent.
We are quite pleased to learn about Mr. O’Leary changing his mind. As avid supporters of Bitcoin and other cryptocurrencies, we saw this much-awaited event coming. We believe that more and more people from all walks of life would see the light regarding digital currency investment.
Bitcoin and other virtual currencies are the financial markets’ future. We understand that skeptics may abound at first, but the tide will turn eventually. We respect Mr. O’Leary’s initial vacillating stance. Nonetheless, again, we anticipated that he would later get convinced with Bitcoin and other cryptocurrencies’ significance today and in the future. We are surely looking forward to more popular personalities modifying their views and are truly delighted and looking forward to this auspicious possibility.