Kevin O’Leary of Shark Tank explains that he would invest a lot more in the crypto asset if he was supported by the regulators
Canadian entrepreneur Kevin O’Leary, famous for his participation in the reality show Shark Tank, seems to have softened his position on Bitcoin after talking to Anthony ‚Pomp‘ Pompliano.
During a recent episode of the Pomp Podcast, O’Leary left behind last year’s statements that Bitcoin (BTC) „is not a real currency,“ while still expressing concerns about the volatility of the crypto asset.
The well-known businessman has revealed that he already owns some BTCs, and that he could invest „a little more“ of his $400 million net worth in crypto currency.
„I’m not against Bitcoin, I’m not against it,“ O’Leary pointed out. „But when it comes to putting millions of dollars at stake, it’s really crucial to understand that it’s an asset you can rely on in the long term, and I have a feeling there will be other alternative ideas.
O’Leary said that his biggest concern about investing between 1% and 25% of his portfolio (half his gold position) in Bitcoin is the fact that the crypto asset does not yet have the regulatory green light:
„Maybe I will invest a little more in Bitcoin just for the sake of it. I have some just to be able to follow the price but it bothers me when I can’t convince the regulators“.
However, if governments were to support digital assets, the entrepreneur said he would consider investing a larger percentage of his portfolio in crypto. „The world needs digital currency,“ he added.
„If you told me that governments in Switzerland, Europe, the United States, Canada and Australia have agreed on one, I would invest up to 20% of my portfolio in it.
The Shark Tank star’s comments seem to show a greater interest in crypto assets, given his opinion until a year ago. In a 2019 interview with CNBC, O’Leary called the crypto „rogue currencies“ because they could not be used to pay taxes and were largely unregulated:
„I have no interest in this crypto crap because it’s not compliant.“