Bitcoin is Never Going to Zero, Says Shark Tank’s Kevin O’Leary

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The Cana­di­an busi­ness­man and a renowned TV per­son­al­i­ty – Kevin O’Leary – pre­dict­ed that bitcoin’s val­u­a­tion will nev­er go to zero. Accord­ing to him, the cryp­tocur­ren­cy is a store of val­ue, just like gold. As such, O’Leary has allo­cat­ed 5% of his port­fo­lio to it and 5% to the pre­cious metal.

Enough People See BTC as a Store of Value

In a recent inter­view for Kit­co News, the famed investor and host of the TV show Shark Tank – Kevin O’Leary – dou­bled down on his bit­coin sup­port. He pre­dict­ed that BTC “is nev­er going to zero” because it has emerged as a store of val­ue. O’Leary com­pared the lead­ing cryp­tocur­ren­cy to gold, admit­ting he had dis­trib­uted the same amount of his wealth to 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.”

Apart from bit­coin, the Cana­di­an is also keen on oth­er dig­i­tal assets. Last month, he revealed that his expo­sure to cryp­to equals 20% of his total wealth. Ethereum (ETH), Solana (SOL), and Avalanche (AVAX) are some of the oth­er dig­i­tal cur­ren­cies he holds:

“You have to be diver­si­fied. I won 32 dif­fer­ent posi­tions, includ­ing equi­ty and FTX itself. You don’t know who’s going to win: is Ethereum going to win, is Solana, is Avalanche? I own them all.”

Mr. Won­der­ful (as his nick­name is) believes that cryp­to adop­tion in the US will tru­ly take off once reg­u­la­tors apply com­pre­hen­sive rules in the indus­try. At first, this will boost bit­coin, and then the alt­coins will fol­low suit:

“What we real­ly need is for US reg­u­la­tors to make pol­i­cy, and then allo­ca­tions will start, pri­mar­i­ly in bitcoin.”

O’Leary touched upon sta­ble­coins, too. He thinks the Amer­i­can author­i­ties should open their arms to these assets to pre­serve the US dol­lar as the world’s reserve currency.

Kevin O'Leary
Kevin O’Leary, Source: CNBC

Investing in BTC is Like Investing in Microsoft

Despite his cryp­to skep­ti­cism in the past, the Cana­di­an cur­rent­ly stands as one of the strongest bit­coin advo­cates. Ear­li­er this year, he opined that hav­ing expo­sure to the pri­ma­ry cryp­tocur­ren­cy is like hold­ing posi­tions in giant cor­po­ra­tions such as Microsoft and Yahoo.

In addi­tion, he fore­cast­ed that bitcoin’s USD val­ue could tap $300,000 by 2025. The price surge will hap­pen once there’s suf­fi­cient reg­u­la­tion, which will enable numer­ous insti­tu­tions to enter the ecosystem:

“And I want to go long on bit­coin when it hap­pens. Bit­coin could go to $300,000 when insti­tu­tions can final­ly buy it.”

Fea­tured Image Cour­tesy of Toron­to Star

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