Shark Tank star Kevin O’Leary, aka Mr. Wonderful, said he didn’t sell any cryptocurrencies despite the cryptocurrency market downturn. “In the long run, you just have to live with it. You have to understand that you’re going to get volatility,” he stressed.
Kevin O’Leary: I don’t sell anything
Shark Tank star Kevin O’Leary spoke about Bitcoin and other cryptocurrencies in an Insider interview published Saturday.
Commenting on the turmoil in crypto markets, O’Leary said:
I’m not selling anything…you just have to live with it in the long run. You have to understand that you’re going to get volatility, and some items just won’t work.
The publication stated that O’Leary currently holds 32 positions in the digital asset space. He is also a strategic investor in Wonderfi Technologies. The crypto platform received conditional approval to list on the Toronto Stock Exchange (TSX) last week.
In an interview with Bankless published last week, O’Leary stated that his current largest assets are ethereum and bitcoin.However, he added, “I also have a large position in USDC [and] A significant position in FTX as a stock. He also mentioned polygons and nightshade. In emphasizing the importance of diversification, he said about eight weeks ago he held about 21% of his portfolio in cryptocurrencies. That has now dropped to about 21%, he said. 18%, and details:
There is a big correction in the market, but you have to be vigilant and get used to the volatility.
The Shark Tank star explained that recent crypto debacles, such as the implosion of crypto terra (LUNA) and algorithmic stablecoin terrausd (UST), offer valuable lessons for investors.
The demise of the UST, he said, “educates everyone that this is not the way to build stablecoins,” stressing that “this is important for education and the maturity of the market.”
O’Leary added that the collapse of crypto tokens will not have a major impact on global financial markets. he thinks:
It’s nothing, it’s a rounding error in the context of sovereign wealth. This is bad for investors, but they have educated the market what not to do. This is a good thing.
Mr. Wonderful has been saying that trillions of dollars will influx of cryptocurrencies “When we get policy and regulators regulate.” He also believes that cryptocurrencies will be the 12th sector of the U.S. economy within 10 years.
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