Renowned investor Kevin O’Leary, also known as Mr Wonderful, said he will soon reveal his crypto investments.
— Kevin O'Leary aka Mr. Wonderful (@kevinolearytv) September 16, 2021
He did so yesterday during an interview with Yahoo Finance, in which he also said that he wants to get to an allocation of about 7% of his capital invested in cryptocurrencies, and not only in Bitcoin. He also revealed that he has an ongoing partnership with crypto exchange FTX.
The interview had all the appearance of a propaganda ad for his partnership, but that’s not all that was discussed.
O’Leary is a well-known investor and television star, thanks in particular to the programme Shark Tank.
Kevin O’Leary wants to be paid in crypto
During the interview, he stated that he does not currently want to be paid in dollars, but that he wants cryptocurrencies, not just bitcoin.
He also stated that he wants to make this portfolio transparent because since he has millions of followers he wants them to know what cryptocurrencies he is exposed to.
In particular, he doesn’t want to be taken for a cryptocurrency promoter, but he does want to reveal the reasons why he buys them. One of these, he revealed, is the possible success of alternative platforms to Ethereum, which he believes is currently too slow and expensive.
He also explicitly stated that he is interested in DeFi, partly because it goes beyond Bitcoin and Ethereum.
He currently has about 3% of his investment portfolio allocated to cryptocurrencies, so he effectively wants to more than double it. A few days ago, in an earlier interview with CNBC, he had said that the crypto market could receive trillions of dollars of new investment in the future if it continues to consolidate as an asset class.
He added that US regulators should make decisions regarding cryptocurrency laws, because he believes that the crypto sector can no longer afford to be non-compliant. On the other hand, he believes the SEC should not get in the way of this fast-growing sector.
He also reiterated that he is in favour of issuing a Bitcoin ETF on the US market.