Kevin O’Leary: 20% of my portfolio is in Crypto, Blockchain firms

Published on

numen cyber focuses on Web3 Security and Threat Detection and Response. They provide industry-leading Web3 Security Solutions, which
can completely cover cybersecurity requirements of all kinds.

Investor Kevin O’Leary told CNBC’s Squawk Box that one-fifth of his investment holdings are in cryptocurrencies and blockchain.


“I have millions of dollars, 20% of my portfolio is now in cryptocurrencies and blockchain,” O’Leary said.

While cryptocurrencies are gaining mainstream attention, the asset continues to be volatile, and U.S. regulators including the Securities and Exchange Commission Chairman Gary Gensler have cautioned about its “highly speculative” landscape and the need of investor protection. The outgoing chair of the U.K.’s financial regulator also has cautioned about pump-and-dump plots in some crypto projects.

CNBC’s Andrew Ross Sorkin asked whether some cryptocurrencies will be around in a decade. O’Leary commented he’s taken that possibility into consideration.

“You have to be diversified. I own 32 different positions, including equity FTX itself,” O’Leary said while divulging he’s a paid spokesperson for the cryptocurrency exchange, founded by 30-year-old billionaire Sam Bankman-Fried.

“The whole point is, you don’t know who is going to win. Is Ethereum going to win? Is solana going to win? Is it Helium or is it Avalanche? I own them all.”

O’Leary’s comments Friday come two days after President Joe Biden signed an executive order that directs the U.S. government to analyze the cryptocurrency industry.

The administration says the order’s goal is to both address risks while “harnessing the potential benefits of digital assets and their underlying technology.”

“It wasn’t an all out ban, so that’s good news,” O’Leary said. However, he expressed concerns about the way Biden’s directive includes an emphasis on climate risks associated with cryptocurrency.

The act of mining bitcoin — which, in practice means running computers to verify transactions across the blockchain network — requires a lot of power. As a result, critics have lamented the carbon footprint of bitcoin mining.

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.


Donate BTC: 1DSt9Wsbx1hFY9Gsz3vk12ByKvBfJFry77 (Click for QR)


Latest articles

SEC Takes First Enforcement Measure Against NFTs Regulatory Body Concludes Impact Theory’s NFTs Were Marketed as Unregistered Securities

U.S. regulatory authorities have mandated a Los Angeles company, which had previously issued non-fungible tokens (NFTs), to provide compensation to investors who had procured the aforementioned NFTs.

Binance Cuts Ties with Sanctioned Russian Banks Amid Regulatory Compliance Efforts

Binance has severed its affiliations with five Russian banks that were under sanctions, having been previously featured on the exchange's peer-to-peer platform for ruble fund transfers, the native currency of Russia.

Former OpenSea Employee Receives Three-Month Sentence in First NFT Insider Trading Lawsuit

A former employee of the NFT marketplace OpenSea has been sentenced to three months in prison on Tuesday in what federal prosecutors have characterized as the first case of insider trading involving digital tokens.

Crypto Market Takes a Dive, Bitcoin Slumps to Two-Month Low Amid Rate-Hike Concerns

In a dramatic turn of events on Thursday's early afternoon trading session, the cryptocurrency market witnessed a substantial downturn, plunging to its lowest point in two months.

More like this

Non-Zero Bitcoin Addresses Hit All-Time High Amidst Consolidation

Bitcoin's public addresses have surged to an unprecedented pinnacle, synchronously aligning with its price...

UBS Terminates Multi-Billion Agreements with Credit Suisse Following Comprehensive Review

UBS announced on Friday the conclusion of a substantial financial arrangement, involving a 9 billion Swiss franc ($10.27 billion) loss protection agreement and a 100 billion Swiss franc public liquidity backstop.

Esteemed Analyst Anticipates Bitcoin to Reach $70,000, Expects Further Gains

A prominent cryptocurrency analyst has shared an ambitious price projection for Bitcoin ($BTC), the leading digital currency, indicating the potential for a substantial surge of more than 130%, propelling it to the $70,000 milestone by year-end.