Kevin O’Leary Says He Now Holds 20% of His Wealth in Cryptocurrencies

Canadian businessman and television presenter, Kevin O’Leary, also known as “Mr. Wonderful,” has confirmed he has 20% of his total investments tied up in crypto assets. He made the revelation during an interview with CNBC on Friday.

“I have millions of dollars, 20% of my portfolio is now in cryptocurrencies and blockchain,” he said.

Asked by one interviewer if any cryptocurrency will stop existing in the next 10 years.

“You have to be diversified. I own 32 different positions, including equity FTX itself. The whole point is, you don’t know who is going to win. Is Ethereum going to win? Is Solana going to win? Is it Helium or is it Avalanche? I own them all,” he replied.

O’Leary’s latest reveal comes in the same week that United States President Joe Biden signed an executive order requesting the government to assess the impact of cryptocurrency on financial stability and national security.

O’Leary revealed during the interview that he had acquired a stake in at least one private Bitcoin mining facility. He added that he had sold his shares in publicly traded Bitcoin mining firms after the executive order.

It is worth noting that O’Leary used to be a crypto skeptic not until recently when he became a strong believer. Back in 2019, he called Bitcoin a “worthless” and “useless” currency.

Crypto Winning Over Skeptics

It’s not just O’Leary. There is a long list of other individuals who have also been skeptical over crypto in the past. However,  some have eventually turned to believers. Individuals including Don Tapscott, Niall Ferguson, Joe Weisenthal and Kevin Roose are all former crypto skeptics now turned believers.

At the same time, billionaires and large firms have been picking up so much interest in crypto in recent times.

In late 2020, Mexican businessman Ricardo Salinas revealed that he had 10% of his liquid portfolio in Bitcoin. He also recommended that prospective investors read “The Bitcoin Standard,” the award-winning book by Bitcoin educator Saifedean Ammous.

Last August, Billionaire Simon Nixon’s family office, Seek Capital, revealed plans to increase its crypto exposure, saying that it is an essential part of the future. Just recently, fund manager Bill Miller said Bitcoin and other cryptocurrencies represent around 50% of his personal assets.