Mr Wonderful Kevin O’Leary Turns Bullish On Bitcoin, Invest 3% Of Portfolio
Last Updated on 3 March 2021 by CryptoTips.eu
I’m a big believer in climate change (currently reading Bill Gates’ How to avoid a climate disaster) but one of the things holding back the development and adoption of solutions is the debate logic of US media.
Over in the good ol’ US of A there have to be two sides to every argument shown on TV, even one as obvious as climate change. This is one of the main reasons why so many Americans are still unsure whether global warming is man-made.
Another example of this rule is shown whenever CNBC discusses Bitcoin. One of the more entertaining discussions between pro and contra has come from Anthony Pompliano (Pomp is Bitcoin’s biggest influencer) versus Mr Wonderful Kevin O’Leary (the second biggest star on Shark Tank, next to billionaire Mark Cuban) who went head to head in December.
Grown men weeping
O’Leary famously predicted, around the 4-minute mark, that:
I’m waiting for the day that one of these regulators comes down hard on Bitcoin. Grown men are going to weep when that happens.
He almost got his wish a week ago when Janet Yellen, US Treasury Secretary, disclosed her disdain for Bitcoin and drove the price down from record highs.
It was quite the quote from O’Leary who of course knows very well what to say on camera. Two months later (and Bitcoin having doubled in price) though, and Mr Wonderful is not afraid to admit that he was wrong.
One of us.
— The Wolf Of All Streets (@scottmelker) March 1, 2021
Mr. Wonderful indeed.
@APompliano has been working on this guy for years.
Smart people change their mind when presented with new information. Well done @kevinolearytv. https://t.co/0t7FsrNcue
In another interview, he admitted that the launch of an official Bitcoin ETF in Canada (Kevin is Canadian himself) was what got him to change his mind.
Is #bitcoin a currency? Property? An asset? Maybe all of the above, I’m going with a 3% portfolio allocation and am looking at investing in miners that can create coin under a mandate of 0 carbon so sustainably! https://t.co/qgAXZVZXzh
— Kevin O'Leary aka Mr. Wonderful (@kevinolearytv) March 1, 2021
He stated:
I actually think that digital currencies are here to stay. Most people that are willing to hold them, including institutions over the last 90 days, are willing to deal with the volatility.
Of course he’s still getting used to the wild swings, declaring:
I am fascinated. I’m investing. I’m holding a 3% weighting in it between ethereum and bitcoin. The volatility sickens me but I’m getting used to it.
Given that two of Shark Tank’s biggest stars (O’Leary and Cuban) are now firm crypto believers and will probably mention this on what is still the biggest rated TV-show in the US on Friday evenings, adoption is edging ever closer.
