venture capitalist Kevin O’Learyannounced that Bitcoin and other cryptocurrencies make up 20% of its investment portfolio.
Speaking during an interview on CNBC, O’Leary talked about owning Bitcoin. Google and Microsoft He likened it to using the products of big technology companies such as He also acknowledged that he has softened his stance on digital currencies and is an advocate for the industry.
In advocating for cryptocurrencies, O’Leary has called on the US to support the industry in a bid to catch up with countries like Canada. In particular, he noted that relevant policies should be enacted.
“I have millions of dollars. 20% of my portfolio is now in cryptocurrencies and blockchain. <…> So we must support this initiative and be a leader in politics. Because right now the world is waiting. We are far behind in politics for this sector that will lead the world in financial services. We need to move forward.”
Shark Tank celebrity doubles crypto holdings
Kevin O’Leary, known for “Shark Tank”, announced in December 2021 that his portfolio was in crypto before announcing his intention to double his stake. 10% declared that. Earlier, O’Leary had claimed that the lack of a clear regulatory perspective kept him from fully embarking on crypto.
When the environment is favourable, they can handle large cash positions. stablecoinHe said he would convert them to
The US is increasingly moving towards crypto regulation
O’Leary’s concerns about regulations came after President Joe Biden signed an Executive Order on cryptocurrencies. The order aims to clarify the government’s direction regarding digital currencies.
The executive order will focus on elements such as consumer protection, financial stability, illegal activity, US competitiveness, financial inclusion and responsible innovation. At the same time, senator Cynthia Lummisis working on a bill that will outline how cryptocurrencies can integrate with the traditional financial industry. Although the crypto advocate did not offer any timeline, he stated that the legislation is almost ready.
Interestingly, CEO of global investment management firm VanEck Jan van Eckwarned that the involvement of lawmakers in crypto regulation could upset the industry by creating unnecessary barriers.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.