“Bitcoin is Never Going to Zero,” Shark Tank’s Kevin O’Leary Stated
Bitcoin is Never Going to Zero, Says Shark Tank’s Kevin O’Leary
Kevin O’Leary, a well-known Canadian businessman and TV personality, claimed that the value of bitcoin will never fall to zero. Cryptocurrency, like gold, he believes, is a store of value. As a result, O’Leary has set aside 5% of his portfolio for it, as well as 5% for gold.
“Bitcoin is never going to zero. This is a personal opinion. There are enough people around the world that see it as a store of value, me included. It is a 5% weighting in my portfolio, just like gold is,” Kevin said in a recent interview for Kitco News.
He is interested in a variety of digital assets in addition to bitcoin. He announced last month that his cryptocurrency holdings account for 20% of his overall worth. Other digital currencies he owns include Ethereum (ETH), Solana (SOL), and Avalanche (AVAX).
“You have to be diversified. I won 32 different positions, including equity and FTX itself. You don’t know who’s going to win: is Ethereum going to win, is Solana, is Avalanche? I own them all,” he said.
He believes that once authorities apply full regulations to the industry, crypto adoption in the United States will truly take off. This will support bitcoin at first, and later altcoins will follow.
“What we really need is for US regulators to make policy, and then allocations will start, primarily in bitcoin.”
Stablecoins were also discussed by O’Leary. He believes that the US government should accept these assets in order to keep the US dollar as the world’s reserve currency.
Earlier this year, he stated that holding shares in major firms such as Microsoft and Yahoo is similar to having leading cryptocurrencies.
In addition, he predicted that the value of bitcoin in US dollars may reach $300,000 by 2025. When there is enough regulation, more institutions will be allowed to enter the crypto field, the price will skyrocket.
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