Kevin O’Leary Reveals Crypto Strategy, Claims NFT Will Be Bigger Than Bitcoin

In one interview Recently with Forbes, Shark Tank star Kevin O’Leary, aka Mr. Wunderbar, shared his investment strategy and the coins he owns. He also talks about the crypto market bubble, diversification, regulation and why he thinks NFT will be bigger than Bitcoin.

Shark Tank star Kevin O’Leary

Kevin O’Leary talks about crypto investing, market bubbles, and NFTs

Kevin O’Leary stated that “the entire crypto industry is made up of software development teams” and that he relies on “really strong innovative software engineers.” When talking about his crypto holdings, he revealed:

“ETH is my biggest position, bigger than Bitcoin.

That’s because there are many financial services and transactions out there. Even new software like Polygon is being developed to consolidate transactions and lower the overall cost of gas fees on Ethereum. “

Then O’Leary mentioned some of the cryptocurrencies he owns.

“I own Hedera, Polygon, Bitcoin, Ethereum, Solana, Serum – these are bets for software development teams and there are many use cases for them.”

In addition, Mr. Wonderful also “took a prominent position in USDC and began paying for assets and receiving payments in stablecoins”.

“Ultimately, speed and acceptance determine the success and value of the platform. That happens when the team developing the platform solves the economic problem. “

Next, O’Leary commented on the crypto meme. Note that “coins that have no economic value in the long run because they do not solve anything or create no value”. He warned:

“I am very skeptical of the coin meme in the long term.”

The Shark Tank star also answered a question about whether Bitcoin or other cryptocurrencies are in a bubble:

“You have to recognize that markets are markets. No one can manipulate it, no matter how people say they can … Millions of decisions are made every second about the value of something. And that applies to every market, regardless of whether it is tulips, watches, Bitcoin, real estate or gold. “

In the long run it’s a stupid game and you can’t win. You never know when it’s a bubble. And if you think you know, you are dead wrong. “

O’Leary believes in portfolio diversification. The crypto portion of his portfolio is growing. At one point, crypto made up “20% of my operating company – but right now it’s about 10.5%”.

“In this portfolio, not a single token or chain makes up more than 5%. So I actively add and reduce based on the volatility. “

He also brings in a lot of stocks. “Most of my positions are in stocks,” he affirmed, noting that he used the FTX exchange for this. Mister. Wonderful announced in October that it had a stake in the exchange and “paid in crypto to serve as an ambassador and spokesperson for FTX”.

When asked if the US Securities and Exchange Commission (SEC) was able to identify some of its cryptocurrencies as securities and what it would do if they did, O’Leary was quick to respond:

“As soon as this information is known and I have a position, I will sell it. I don’t want to conflict with regulators about my crypto portfolio. I want 100 percent compliance. “

He said the same thing about XRP in November, with XRP being the subject of an SEC lawsuit against Ripple Labs and its executives Brad Garlinghouse and Chris Larsen.

“I’m not interested in investing in SEC litigation. It was a very bad idea. “

O’Leary also spoke about NFT.

“They offer a high level of added value in terms of authenticity, inventory management and all possible use cases for many different asset classes. I think non-fungible tokens will be bigger than Bitcoin. “

He continued to draw attention to his NFT project.

“I like NFT, which is tied to hard assets, physical assets. The industry I’m working in on developing a whitepaper is the watch industry. I made a significant investment in Jordan Frieds Immutable Holdings, which owns nft.com and will be launching in January, and Wonderfi. “

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