"Shark Tank" investor Kevin O’Leary says that his portfolio now has more exposure to crypto than gold.
What Happened: In a recent interview with Daniella Cambone on Stansberry Research, O’Leary said he had 7% of his portfolio in crypto, 2% more than his allocation toward gold.
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“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,” said O'Leary.
“But in crypto, it’s not just betting on the price of Bitcoin (CRYPTO: BTC) anymore,” he added.
O’Leary went on to explain that he sees many other ways of investing in blockchain opportunities, naming Solana (CRYPTO: SOL) and Ethereum (CRYPTO: ETH) in particular.
“There are so many different level ones, and of course, the level twos, the derivatives that are put on top of Ethereum and Solana and all the others … I just see a lot of investment opportunity, and I’m going to be an investor in that space.”
O’Leary has become increasingly involved in the crypto space over the course of this year. Last month, the investor said he planned to double his crypto holdings and he was expecting an influx of money into the space.
“I figure there would be another trillion dollars worth of buying into Bitcoin. I think at the end of the day, over the next couple of years, that could happen. That’s why there’s so much interest,” he said.
Photo: Aleksi Räisä on Unsplash.