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Mr. Wonderful, an entrepreneur and Shark Tank star, has disclosed that he now owns more cryptocurrency than gold.
O’Leary remarked in an interview with Daniela Cambone of Stansberry Research that his investing portfolio has a higher exposure to crypto than gold, but that he still recommends holding both since they are “two different asset classes” and that comparing gold and Bitcoin is pointless: “I have 5% in gold. 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.”
“The best way to look at it, if you’re an investor, either you believe in decentralized finance and centralized finance, and you believe in Bitcoin and Ethereum and the blockchain, or you don’t. If you don’t, stay in gold as a hedge, and if you do, tip into it,” he said.
O’Leary’s crypto portfolio allocation appears to be about 6%, since he announced that he intends to achieve 7% by the end of the year, with investments split between digital assets and blockchain startups.
“I’m now going to be at 7% percent hopefully by year-end, so I’m a believer in it. I’m an investor in it. I put many bets out with different companies now they’re developing products in these areas and I’m pretty comfortable with where I sit.”
Story By: Norvisi Mawunyegah