- Shark Tank host Kevin O’Leary is confident Bitcoin price will never collapse to zero
- The TV personality and entrepreneur has invested in Gold, Bitcoin and several other altcoins
In a Monday interview with Kitco’s Michelle Makori, TV personality Kevin O’Leary asserted that the price of Bitcoin will never reach zero. The Canadian businessman defended his take, arguing that the crypto asset, now 13 years old, has secured its place in the financial space as a store of value.
O’Leary compared Bitcoin to gold in this regard, adding that he has invested an equal fraction of his portfolio in both assets.
“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.”
The entrepreneur’s recent liking for Bitcoin hasn’t prevented him from seeking returns from other crypto tokens.
Invest in all
O’Leary has previously divulged that he has invested 20% of his portfolio in blockchain-related endeavours. In a March interview with CBNC, the Shark Tank host said he has Ethereum (ETH), Solana (SOL) and Avalanche (AVA). He also revealed he has invested in Polygon (MATIC) in the Monday interview.
Worth mentioning, O’Leary only started showing interest in crypto assets recently. He, at one point, bashed the flagship crypto as being worthless.
Regulators need to lay the foundation for investment in crypto
The Canadian also urged US regulators to ramp up their efforts and get a grip on the crypto industry. He particularly noted that the US should follow the lead of their northern neighbours, who have approved crypto exchange-traded products.
On the general crypto market, he said that more funds would start flowing into the crypto space but only if the space is regulated. O’Leary identified several advantages of regulating other digital assets. For stablecoins, the businessman observed that regulations would help the US dollar retain its hegemony status.