Kevin O’Leary thinks investing in XRP amid the Ripple vs. SEC lawsuit is a very bad idea

Kevin O’Leary, Shark Tank star, aka Mr. Wonderful, spoke in an interview published on Friday (November 26th) with CNBC about cryptocurrencies, Bitcoin, XRP, Ripple’s lawsuit with the US Securities and Exchange Commission and crypto regulation.

Kevin O’Leary – Chairman of the O’shares ETF

O’Leary said he wanted to consult with crypto regulators to find out “what is possible and what is not.”

Regarding the SEC’s lawsuit against Ripple over the XRP sale, O’Leary insisted:

“I’m not interested in investing in the middle of a legal battle with the SEC. It was a very bad idea. “

The SEC sued Ripple, CEO Brad Garlinghouse and co-founder Chris Larsen over the $ 1.3 billion XRP token sale, claiming it was an unregistered security offering. Ripple and its executives have argued that XRP is not a security.

Garlinghouse recently said the lawsuit is progressing reasonably well and is likely to close next year. Even Coinbase CEO Brian Armstrong believes the lawsuit is going better than expected.

O’Leary prefers to stick to the rules, “because that’s where the real capital is”.

“I’m not interested in being a crypto cowboy and making someone unhappy with me because … I have a lot of real assets that I’ve invested in so I have to stick to them.”

O’Leary doesn’t care about the coin meme either. In July, he said he would not invest in Dogecoin (DOGE).

“I don’t see why anyone should invest in it.”

However, cryptocurrencies currently make up around 10% of O’Leary’s portfolio. Its crypto exposure outperformed gold for the first time in early October. In September, O’Leary said he expected another trillion dollars to pour into Bitcoin.

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Mr. Teacher

According to News.Bitcoin

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