Famous billionaire Kevin O’Leary also announced his new altcoin project, which he just added to his portfolio, among his major allocations in Ethereum, Solana and Polygon.
A new altcoin entered the famous billionaire’s basket: POLY
cryptocoin.comAs you follow, the crypto money market is trying to heal its wounds after the collapse. In this environment, investors are also returning to the market. Shark Tank investor Kevin O’Leary has announced that he has added a new altcoin to his crypto asset portfolio. In a new interview, O’Leary says he has invested in Polymath (POLY), alongside ‘giant’ positions in Ethereum (ETH), Solana (SOL), Polygon (MATIC) and Helium (HNT).
POLY is an Ethereum token that aims to facilitate the issuance, creation and management of digital securities representing ownership of assets such as stocks or real estate. Kevin O’Leary explains his portfolio:
I have everything. I have 32 positions. I don’t know which ones will work. I don’t need them all to work. I need several large positions in Ethereum. I have a very large position in Bitcoin, Solana, Polygon, Helium and the new position I just took POLY.
“I think this is a milestone for crypto”
Kevin O’Leary says he’s also enthusiastic about his allocation at USDC issuer Circle. The venture capitalist notes that with regulatory clarity, Circle’s USDC has the potential to completely disrupt the currency industry. He also notes that there is potential to reduce friction for international money transfers. Shark Tank investor has this to say on the subject:
I now have a Circle piece in the F round alongside Fidelity and BlackRock. I did this because I saw them get into it. I would never have done this without the endorsement of such compliant, SEC-regulated entities that are betting on stablecoins in the middle of a lousy storm. I think this is a turning point for crypto.
“Crypto is on track to become the next sector of the S&P 500 index”
Ultimately, O’Leary states that crypto is on its way to becoming the next sector of the S&P 500 index. He says evidence of this is the massive movement of tech professionals migrating to the industry. Kevin O’Leary explains his views as follows:
There are all kinds of projects. The thought for me is that you are currently teaching an MIT graduate in engineering. I give guest lectures there. A third of the class are entrepreneurs. Where do they want to go? They are not interested in working in any of the 11 sectors of the economy. They want to work on the blockchain. They want to be in crypto. You can’t pour that much intellectual capital into something and get great results one day. It’s like being at the beginning of the internet. I’m talking about the smartest, brightest men and women from all over the world saying, “Never mind, I want to work on crypto.”
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