Celebrity investor Kevin O’Leary (aka “Mr. Wonderful” on ABC TV series “Shark Tank“) recently revealed that his investment portfolio h⁷olds more weight in cryptoassets than gold.
Speaking in an interview with Daniella Cambone of Stansberry Research, O’Leary said that for the first time he has more exposure to crypto than gold. He added that he had no intention of selling his gold, but predicted digital assets would continue to provide investment incentives.
As reported by The Daily Hodl, he said
I have 5% in gold so crypto for the first time is more than gold for me, and I’m going to keep my gold. I see no reason to sell it. But in crypto, it’s not just betting on the price of Bitcoin (BTC) anymore. There are so many other ways to invest, particularly in blockchain opportunities [such as] Solana and Ethereum.
O’Leary said he saw a lot of “investment opportunity” in the crypto space beyond price speculation, and mentioned that he would continue to be an active investor in the space. Apparently, 7% of Shark Tank star’s portfolio is currently in crypto.
O’Leary commented on the interplay between gold and its digital counterpart Bitcoin, saying the media was largely responsible for creating derision.
The legendary investor recommended having exposure in both assets, saying that it was a “good idea” to invest in both gold and crypto:
Nothing is going to replace gold… [It] will remain an asset class in portfolios like mine and others as a property. You can’t stake gold. You can’t lend gold… At the same time, with crypto, you have the opportunity to stake it or lend it and get some kind of appreciation of value through interest.
O’Leary called gold and crypto “two different asset classes,” and said the controversy between the two was fun, but ultimately irrelevant.
Disclaimer
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
