Shark Tank host Kevin O’Leary has declared he had no interest in investing in anything with litigation from the U.S. Securities and Exchange Commission (SEC). Anything, in this case, includes digital currencies.
O’Leary, famously referred to as Mr. Wonderful, is a huge celebrity investor. However, when it comes to crypto, celebrity investor Kevin O’Leary is choosing to tread carefully.
TV Personality Kevin O’Leary Chooses Not to be a Crypto Cowboy
Speaking on an interview with CNBC’s “Capital Connection”, Shark Tank host Kevin O’Leary said he prefers consulting with regulators first, before investing in cryptocurrencies. According to TV personality Kevin O’Leary, the crypto industry lacks clarity. Regulators on the space will help shed light on what is possible and what is not.
The litigation going on in the industry especially fuels celebrity investor Kevin O’Leary’s stand. Speaking about the lawsuit brought by SEC against Ripple, O’Leary emphasized he is not willing to invest in litigation against SEC. To him, investing in these digital coins with blurry regulatory frameworks is investing in lawsuits against SEC.
O’Leary aims for compliance and not being a crypto cowboy. Shark Tank TV host Kevin O’Leary continues that the real capital is where he accommodates and complies with regulators. He already has invested in so many assets in the “real world” that requires he sticks to compliance.
While he is hesitant about investing, O’Leary revealed that he is keen on the progress of blockchain projects such as Solana (SOL), Polygon (MATIC), and Hedera (HBAR). The celebrity investor sees the potential of these projects and predicts they could win in the long term.
Kevin O’Leary’s Love-Hate Relationship with Crypto
Celebrity investor Kevin O’Leary has had a love-hate relationship with cryptocurrencies. In 2016, the celebrity investor dismissed Bitcoin as worthless. The inability to get in and out of Bitcoin in large amounts rendered it garbage according to O’Leary.
Year later at the beginning of 2021, TV personality Kevin O’Leary went back on his words. He declared that he is not against Bitcoin and respects it. O’Leary went ahead and invested 3% of his portfolio in Bitcoin. Now, regulators will be the ones deciding the future of O’Leary’s investment in cryptocurrencies.
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