Kevin O’Leary of Shark Tank said that he was „not against Bitcoin,“ but that he would invest much more in cryptoactives if they were backed by regulators.
Canadian entrepreneur Kevin O’Leary, who appears on the reality show, Shark Tank, has apparently softened his stance on Bitcoin after speaking with Anthony „Pomp“ Pompliano.
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In an episode of the Pomp Podcast released today, Kevin O’Leary seemed to be leaving behind his statements from last year when he said that Bitcoin (BTC) „was not a real currency,“ although he still expressed his concern about the volatility of cryptoactive.
The businessman said he already owned some BTCs and might consider investing „a little more“ of his $400 million net worth in crypto currency.
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„I’m not against Bitcoin, I’m not against it,“ O’Leary said. „But when you talk about putting millions of dollars to work, you really want to understand that you can think long-term about it and I have a feeling that there will be other alternative ideas.
O’Leary said his main concern about investing between 1% and 2.5% of his portfolio, half of which he has in gold, in Bitcoin is that the cryptoactive is not yet supported by regulators:
„Maybe I’ll put a little more [in Bitcoin] just for the sake of it. I have a little bit just to be able to see the price, but it bothers me when I can’t have the regulator on board“.
However, if governments were to back digital assets, the entrepreneur said he would consider investing a larger percentage of his portfolio in cryptosystems. „The world needs a digital currency,“ he said.
„If you told me that the Swiss and European governments, the American and Canadian governments and the Australian government would agree to anything, I would put up to 20% of my portfolio into it.
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Comments from the Shark Tank star apparently show a greater acceptance of cryptoactives given what he said last year. In a CNBC interview in 2019, O’Leary referred to crypto coins as „fraudulent coins“ because they could not be taxed and were largely unregulated:
„I have no interest in doing anything with this crypto junk because it doesn’t comply with the law.